Latest News

MARKET DEVELOPMENT
22-12-2021

Union Govt cuts import duty on refined palm oil till March 2022

The Union Government on Monday, December 20, reduced the basic customs duty on refined palm oil from 17.5% to 12.5% till March 2022, with effect from Tuesday, December 21 as part of the measures it is taking to bring down the prices of edible oil in the Indian markets.

MARKET DEVELOPMENT
22-12-2021

Sime Darby Plantation looks to maintain stable income growth in 2022

AFTER a stellar financial performance in the first nine months of its financial year ending Dec 31, 2021 (9MFY2021), thanks to higher crude palm oil (CPO) prices, Sime Darby Plantation Bhd (SDP) is looking to ensure consistent, stable income growth in FY2022 and beyond.

MARKET DEVELOPMENT
21-12-2021

Palm oil production expected to rise next year

KUALA LUMPUR: The production of crude palm oil is expected to return in earnest next year in both Malaysia and Indonesia, OCBC Treasury Research says.

MARKET DEVELOPMENT
21-12-2021

India extends free import policy on refined palm oil products till end-2022

India, the world's top buyer of vegetable oils, extended its relaxation on refined palm oil and olein imports to Dec. 31, 2022, from its earlier deadline of Dec. 31, 2021, according to a notification by the country's foreign trade regulator.

MARKET DEVELOPMENT
21-12-2021

Palm ends at 3-month low

JAKARTA: Malaysian palm oil futures closed on Monday at their lowest in three months, as crude and rival vegetable oil prices weakened on concerns that surging Omicron cases globally would hurt demand amid projections of soft December exports.

MARKET DEVELOPMENT
21-12-2021

India suspends futures trading of CPO, soybean oil, other agricultural commodities

The Securities and Exchange Board of India has directed local stock exchanges to suspend trading of seven agricultural commodities, including crude palm oil and soybean oil, with immediate effect for one year, according to a release on the markets regulatorâ€™s website on Dec. 20.

MARKET DEVELOPMENT
21-12-2021

CPO futures end lower tracking weaker soybean oil prices

KUALA LUMPUR (Dec 20): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Monday, tracking weaker Chicago Board of Trade (CBOT) soybean oil prices, said palm oil trader David Ng.

MARKET DEVELOPMENT
21-12-2021

Prices for sunoil in Ukraine fall to a 3-month low at $1,288/mt

Sunflower prices across the Ukrainian market have fallen to a three-month low as falling crude oil prices pressure the vegetable oil complex while the resurgence of a Covid-19 variant brings fears of stricter curbs on movement across Europe.

MARKET DEVELOPMENT
21-12-2021

Govt cuts import duty on refined palm oil to 12.5%

The government on Monday cut the basic customs duty on refined palm oil to 12.5 per cent from 17.5 per cent as part of efforts to increase domestic supplies and bring down the retail prices of the cooking oil.

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