Berita Arkib

21/06/2022 (Business Times) - MALAYSIA will abolish subsidies for certain cooking oil products from Jul 1, its government announced on Tuesday (Jun 21), in what it said was a move to ensure domestic supply and stabilise prices.

22/06/2022 (Business Recorder) - ISLAMABAD: The Federal Board of Revenue (FBR) has abolished 2 per cent additional customs duty on the import of edible palm oil for shipments originating from all sources except Indonesia from June 10, 2022, and June 30, 2022. The FBR has issued SRO 805(I)/2022 here on Tuesday to amend the SRO 845(1)/2021 pertaining to the imposition of the regulatory duty.

(June 20): Palm oil fell deeper into bear market territory on concern that surging Indonesian exports will challenge cargoes from Malaysia, with the most active contract sliding below RM5,000 for the first time since January.

Exports of Malaysian palm oil products for June 1 – 20 fell 10.5 percent to 738,368 tonnes from 824,589 tonnes shipped during May 1 – 20, cargo surveyor Intertek Testing Services said on Monday.

Packaged consumer goods makers said they will not slash prices despite the correction in two crucial commodities - crude and palm oil - but will instead slow the pace of price increases.

JAKARTA, June 21 (Reuters) - Indonesia, the world's top palm oil exporter, has issued permits to export 867,682 tonnes palm oil products under its Domestic Market Obligation (DMO) scheme as of Monday, Trade Ministry official Oke Nurwan said.

SINGAPORE: Palm oil may test a support at 5,086 ringgit per tonne, a break below which could open the way towards 4,896 ringgit.

PARIS, June 20 (Reuters) - Euronext wheat edged lower on Monday, pressured by a pre-weekend slide in Chicago as traders await further clues on harvest and export prospects for the upcoming season.

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended last week’s downtrend to closed lower on Monday (June 20), the lowest since Jan 17, weighed by weak market fundamentals.

One of India’s top FMCG companies, Adani Wilmar reduced the prices of one of the priciest of groceries in recent times – cooking oil.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is forecast to trade with a downside bias as the market continues to be plagued with expectations of higher output next week.

PETALING JAYA: Local palm oil producers should wean off reliance on Indonesian and Bangladeshi foreign workers amidst the “severe” shortage of about 120,000 workers, says Datuk Zuraida Kamaruddin (pic).