NEWS FEED
  • 20 February, 2019
    Malaysia, France to hold dialogues for better understanding of palm oil
    Malaysia and France will hold joint dialogues and strengthen engagements to promote better understanding of the palm oil industry, said the Primary Industries Ministry. Its minister, Teresa Kok said this followed a courtesy call on her from French Ambassador to Malaysia Frederic Laplanche here yesterday where they discussed ways to enhance bilateral cooperation and dialogues on palm oil, as well as encouraging engagements between lawmakers from both countries. This was prompted by the French National Assembly’s decision to exclude the use of palm oil as a biodiesel feedstock and to end tax incentives for palm oil as of 2020.
  • 19 February, 2019
    Malaysian palm oil price gains on stronger related oils, weaker output
    Malaysian palm oil futures edged higher during Monday trade, charting a second session of gains in three days, bolstered by strength in related edible oils and expected weaker output. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange rose 0.6 percent to 2,286 ringgit ($559.88) a tonne by the close.
  • 19 February, 2019
    Malaysian palm oil prices seen steady in 2019 — MPOC
    Malaysian palm oil prices are set to hold steady in 2019 at an average of RM2,303 (US$565) a tonne, according to estimates by the Malaysian Palm Oil Council (MPOC), while global output of the tropical oil is expected to rise by 3 million tonnes. "Global palm oil production is projected to be 72 million tonnes, with Malaysia and Indonesia as leading producers," the MPOC said in an online conference presentation on Monday.
  • 19 February, 2019
    Govt taking various initiatives to ensure palm oil prices rise
    The Government is taking various initiatives to ensure that palm oil prices keep rising and reach the RM2,400 a tonne level. Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin said the initiatives included opening new markets in countries with high palm oil consumption such as Iran, Turkey and Pakistan. “We hope to create higher demand as Malaysia has only a 30 percent market share in these countries. We will be able to increase the use of palm oil if we are able to expand our market share.
  • 18 February, 2019
    French government boycott unfair to indigenous farmers
    The Dayak Oil Palm Planters Association (Doppa) is urging the French government to reconsider its decision to exclude palm oil from raw materials approved for use in biofuel. Its vice-president Rita Insol said French lawmakers had voted to remove palm oil from the country’s biofuel scheme as of 2020, following longstanding controversy about the environmental impact of the crop that is mainly produced in Asia.
  • 18 February, 2019
    Palm oil seen hitting RM2,400 per tonne
    The price of palm oil is expected to increase gradually to reach RM2,400 per tonne this year, said Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin. Citing a Reuters study, he said the rise may be attributed to several factors, including surging demand from the chocolate and fuel industries, domestically and globally.
  • 18 February, 2019
    Estate owners demand WHO journal retract article against palm oil or apologise
    The Malaysian Estate Owners Association (MEOA) has demanded that the World Health Organisation’s (WHO) Bulletin retract an article published last month which had painted the palm oil industry in a bad light. MEOA vice-president Gan Tee Jin demanded in an open letter to the bulletin’s editor in Chief Laragh Gollogly, that the organisation remove the article titled, “The palm oil industry and noncommunicable disease Sowmya Kadandale, Robert Marten and Richard Smith.”
  • 15 February, 2019
    Malaysian palm oil price snaps four days of losses on likely lower Feb output
    Malaysian palm oil futures jumped more than 1 percent in the second half of trade on Thursday, ending the day higher on expectations of slowing February output in line with seasonal trend and improving exports. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was up 1 percent at 2,272 ringgit ($557.68) a tonne at the close of trade, snapping four days of losses.
  • 14 February, 2019
    Palm in line to snap 3-day losing streak on strong crude oil
    Malaysian palm oil futures rose on Wednesday, in line to snap three sessions of declines, supported by strength in crude oil prices. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 0.6% to RM2,267 (US$557.96) a tonne at the midday break.
  • 14 February, 2019
    Indonesia defends palm oil after EU targets 2030 phase-out in road fuel
    Indonesia, the world's biggest producer of palm oil, will not accept an EU plan to curb the use of crops that cause deforestation, and argued that its higher production yield made it better placed to meet global demand, a senior Indonesian official said. A European Union draft due to come into effect after four weeks of public consultation, concluded palm oil cultivation results in deforestation and its usage in transportation fuel should be phased out by 2030.