Berita Arkib

Sabah Chief Minister, Tan Sri Musa Aman, has urged the European Union (EU) member countries to stop its ongoing campaign against the oil palm industry.

THERE is no official boycott of Southeast Asian palm oil by the European Union, EU head in Malaysia Maria Costello Fernandez said.

Sarawak Oil Palms Bhd’s net profit grew by 45% to RM54.36 million or 9.52 sen per share for the third quarter ended Sept 30, 2017 (3QFY17), from RM37.49 million or 8.48 sen per share last year due to improved Fresh Fruit Bunches (FFB) production coupled with palm products transacted volume and price.

Chief Minister Tan Sri Musa Aman has called on the European Union (EU) to stop its ongoing campaign against the palm oil industry.

Malaysian palm oil futures fell to a four-month low on Wednesday evening, a third consecutive session of losses as the ringgit strengthened against the dollar, making the tropical oil more expensive for holders of foreign currencies.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Nov 29.

Malaysian palm oil futures charted a second consecutive day of losses on Tuesday evening despite seeing gains earlier in the day, as a stronger ringgit , which makes the tropical oil more expensive for foreign buyers and aids demand, weighed on prices.

Ahead of the listings of Sime Darby Plantation Berhad (SD Plantation) and Sime Darby Property Berhad on 30 November 2017, Fitch Ratings has assigned ratings for the two Sime Darby companies it assesses, namely Sime Darby Berhad (SD Berhad) and SD Plantation.

Japan's Fuji Oil Holdings group is teaming up with a Malaysian company to make palm oil products that comply with international standards in order to allay consumer concerns over environmental and social problems rampant in the industry.

The palm oil third month contract may fall into a range of 2,519-2,555 ringgit per tonne, as suggested by its wave pattern, a projection analysis and a trendline.

Earlier in October, Punjab Food Authority announced that it would ban the production and sales of banaspati ghee by FY20 in the province owing to the adverse effects of trans-fat and its contribution to cardiovascular diseases. At the same time, we have been witnessing a strong upward trend of imported palm oil which is often a component in the production of ghee

Palm oil is in for a rough time, with the industry set to experience a bearish 2018. This, according to experts, comes on the back of a number of factors such as labour shortages, improved palm oil yields amid lower short-term demand from Malaysia’s traditional export markets, poor weather conditions and, in the longer term, fallout from the European Union’s ratification of an import ban on palm oil-based biofuels.