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Malaysia’s total palm oil stocks rise 7.48% to 2.82 million tonnes in August — MPOB
CPO prices seen at RM4,400-RM4,600 on tighter supply
Palm retreats from 21-month high on stock outlook, weak exports
Palm slips over 1% on weaker soyoil, bearish MPOB data
Korean and Indonesian NGOs launch OECD complaint against palm oil company Posco for environmental and social abuses
Washington - December 16, 2019 (Investorideas.com Newswire) A network of NGOs from Korea and Indonesia filed a complaint against Posco International, a Korean multinational, at the Organization of Economic Cooperation and Development (OECD) last week. The complaint alleges that environmental and social abuses linked to Posco and two of its Korean financiers, the Korean National Pension Service (NPS) and the Export-Import Bank of Korea (KEXIM), violate the OECD Guidelines for Multinational Enterprises.
Import of edible oil drops 50% in two months on 5% safeguard duty
The safeguard duty was imposed on August 26 on RBD palmolein, primarily imported from Malaysia India’s import of refined edible oil has declined by a little over 50 per cent in the past two months, after the Union government imposed a 5 per cent “safeguard duty†in response to pleas from the processing industry.
Planters to start paying windfall profit tax
Industry players said the WPT seemed applicable given that the crude palm oil (CPO) spot prices would likely exceed RM2,500 per tonne this month, while the CPO futures prices have rallied to trade above the RM2,800-per-tonne level.
Asean paves path towards better FTAs
Thailand looks poised to improve free trade agreements (FTAs) under the Asean framework next year, aiming to extend tariff cuts to cover more products, particularly sensitive items
Major commodities ride through obstacles in 2019
The trade spat between the US and China turned out to be a double-edged sword for the commodities in 2019 be it palm oil, rubber, tin or gold as it catalyses the ‘yin and yang’ in the sector.
Palm oil imports drop to 17-month low in November
India’s palm oil imports fell 3 per cent in November from a year ago to the lowest level in 17-months, a leading trade body said on Friday, as refiners curtailed purchases of refined palm oil from Malaysia fearing a hike in import tax.
Malaysia to Publish Oil-Palm Concession Maps in Traceability Bid
Malaysia, the world’s second-largest grower of palm oil, plans to publish concession maps and make them accessible to the public, according to the Malaysian Palm Oil Certification Council.
Malaysia raises export tax for crude palm oil for first time in over a year
Malaysia has raised its export tax for crude palm oil for January, for the first time in one-and-a-half years, the Malaysian Palm Oil Board’s website said on Friday, citing the national customs department.
Indonesia and India seek new strategy to reach trade target
Indonesia and India are working to find a new strategy to achieve a bilateral trade target of US$50bil within the next five years, Foreign Minister Retno Marsudi on Sunday (Dec 15) said as she sought to strengthen Indonesia’s palm oil exports to India.
