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Malaysia raises palm oil export duty for April
CPO Futures Close Lower Amid Weaker Crude Oil, Soybean Oil Prices
Middle East conflict boosts demand for alternative fuels
Palm falls on weak rival oils, crude oil prices, April demand concerns
Tighter restrictions on palm oil exports
10/03/2022 (The Star Online), Jakarta - Indonesia will expand its mandatory domestic sales of palm oil to 30% of planned exports by companies from 20% currently starting from today as part of efforts by authorities to contain cooking oil prices, according to Trade Minister Muhammad Lutfi.
Govt prepared to work with Papua New Guinea on allegation of wrongdoing by Malaysian palm oil company
10/03/2022 (Borneo Post Online), Kuala Lumpur - Malaysia is ready to work with Papua New Guinea to investigate allegations of wrongdoing by a Malaysian palm oil company operating there, said Deputy Minister of Plantation Industries and Commodities Datuk Willie Mongin.
In West and Central Africa, palm oil investors buckle under community pressure
10/03/2022 (Mongabay) - When commodity prices spiked in the late 2000s, multinational agribusiness giants smelled profits. Eager to branch out of crowded Southeast Asian rainforests, some palm oil companies set their sights on Africa, where governments in countries like Sierra Leone, Liberia, Cameroon, and Côte d’Ivoire assured them that they had land to spare. In just a few years, deal after deal was inked, with companies from across the world suddenly holding the rights to huge tracts of West and Central African land. For the palm oil industry, an exciting new frontier was opening up at a breakneck pace.
Govt studying targeted fuel and cooking oil subsidy mechanism to assist vulnerable groups, says Tengku Zafrul
10/03/2022 (The Edge Markets), Kuala Lumpur - The government will review the fuel and cooking oil subsidy mechanism, so that it will be more targeted towards aiding and subsidising the vulnerable groups and those who really need help, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.
Indonesia Cuts CPO Exports for at Least Six Months to Tame Domestic Cooking Oil Crisis
10/03/2022 (Jakarta Globe) - Indonesia, the largest producer of crude palm oil, has decided to stifle its palm oil export over the next six months in a move designed for taming the cooking oil scarcity within its border, sending the commodity price to a new all-time high.
Andhra Pradesh: False scarcity pushes up prices of edible oil
10/03/2022 (Times of India) - VIJAYAWADA: Oil traders across the state are looting the public in the name of Russia-Ukraine war. Price of cooking oils increased by 30% in the last ten days putting a huge burden on common man. Raids conducted by vigilance and enforcement authorities and the food safety department have failed to curb the mafia from continuing their malpractices.
Cooking oils in ‘perfect storm’ as war slashes Black Sea exports
09/03/2022 (The Edge Markets) - Cooking oils are facing “a perfect stormâ€, with as much as 60% of sunflower oil exports from the Black Sea region being delayed in the current marketing year because of Russia’s invasion of Ukraine, according to James Fry, a veteran analyst and chairman of LMC International, a consultancy.
Sime Darby’s palm oil still not welcome, US agency clarifies
09/03/2022 (Free Malaysia Today), Petaling Jaya - Sime Darby Plantation’s (SDP) palm oil and related products are still banned from entering the US over claims of forced labour practices.
Ministry probing whether seized palm oil is from Malaysia
09/03/2022 (Free Malaysia Today), Putrajaya - The plantation industries and commodities ministry is investigating whether local companies were involved in the production of palm oil products that were recently seized by the United States Customs and Border Protection (CBP).
