Latest News

MARKET DEVELOPMENT
20-08-2021

MPOB develops technology to help plantation workers

The Malaysian Palm Oil Board (MPOB) has invented a technology which can assist oil palm plantation workers to load fresh fruit bunches (FFB) in their plantations.

MARKET DEVELOPMENT
19-08-2021

CPOâ€™s duty surges 5-fold on higher prices

CRUDE palm oilâ€™s (CPO) export duty collected for the first five months of this year surged five times or RM111 million to RM564.82 million compared to similar periods last year following the increase in the commodity price.

MARKET DEVELOPMENT
19-08-2021

Palm oil slides nearly 3pc

KUALA LUMPUR: Malaysian palm oil futures slumped nearly 3% on Wednesday, hitting a one-week closing low on fears of lower export demand and anticipation of an increase in production.

MARKET DEVELOPMENT
19-08-2021

Palm oil may fall to 4,261 ringgit

SINGAPORE: Palm oil may fall to 4,261 ringgit per tonne, as suggested by a triple-top.

MARKET DEVELOPMENT
19-08-2021

Palm oil falls over 2% on expectations of weak export demand

KUALA LUMPUR: Malaysian palm oil futures slumped as much as 2.8% on Wednesday, hitting a one-week low, amid anticipation of an increase in production and bleak demand outlook.

MARKET DEVELOPMENT
19-08-2021

Indonesia July trade surplus widens as export, import growth slows

JAKARTA, Aug 18 (Reuters) - Indonesiaâ€™s trade surplus widened slightly more than expected in July as growth in exports and imports slowed, data from the statistics bureau showed on Wednesday, as the country imposed mobility restrictions to control a spike in COVID-19 cases.

MARKET DEVELOPMENT
19-08-2021

India allocates $1.5 billion to raise palm oil output

MUMBAI (Reuters) - India has allocated 110 billion rupees ($1.48 billion) to boost domestic palm oil production to 2.8 million tonnes by 2029-30, Agriculture & Farmers Welfare Minister Narendra Singh Tomar said on Wednesday.

MARKET DEVELOPMENT
19-08-2021

Malaysia's Sime Darby Plantation posts Q2 profit, sees firm palm prices

KUALA LUMPUR, Aug 18 (Reuters) - Malaysiaâ€™s Sime Darby Plantation reported a second consecutive quarterly net profit on Wednesday, on higher palm oil prices, and said that it expects prices â€” which have scaled record highs in recent weeks â€” to remain firm.

MARKET DEVELOPMENT
19-08-2021

Reduce import duty on oil palm seeds: Niranjan to Nirmala

HYDERABAD: Urging Union Minister for Finance and Commerce Nirmala Sitharaman not to levy 30 per cent import duty on oil palm seedlings by including it under â€˜palm nutsâ€™ code, Agriculture Minister S Niranjan Reddy suggested that it be kept under the earlier code of â€˜fruit seeds for planting and sowingâ€™ as been the case till 2019 when import duty was five per cent. Niranjan Reddy wrote a letter the Union Minister on Tuesday, stating that the farmers could be encouraged to shift to oil palm cultivation, for which the State government has set a target of 20 lakh acre cultivable area in the next three years, if input costs, especially to procure seedlings, were kept low.

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