NEWS FEED
  • 22 March, 2019
    Palm oil extends gains as output concerns fade, better export outlook
    Malaysian palm oil futures hit a more than two week high on Thursday, as easing concerns about high output and expectations of better export demand buoyed investor sentiment. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange was up 0.4% at 2,172 ringgit (US$534.98) a tonne, locking in a fifth straight session of gains, after earlier hitting its highest level since March 4.
  • 22 March, 2019
    Palm oil firms take part in 'Love My Palm Oil' campaign
    Thirty-one producers of palm oil-based products have agreed to put the "Sayangi Sawitku” labels on their products in support of the Government’s “Love My Palm Oil” campaign. Primary Industries Minister Teresa Kok Suh Sim said the move was agreed to at a meeting with representatives of the companies here today. The companies, which are involved in, among others, food, beverages, health care, cosmetics and fertilisers, will become ambassadors promoting the advantages of palm oil.
  • 21 March, 2019
    Stop palm oil discrimination
    If the European Union (EU) continues to discriminate against palm oil, Malaysia will retaliate by boycotting certain Euro­pean products, says Prime Minister Tun Dr Mahathir Mohamad. “Yes, we think we will stop buying some European products. That is one thing that we can do,” he told reporters during a press conference at Parliament lobby yesterday. On Tuesday, Dr Mahathir said the government had written to all the heads of EU governments saying that Malaysia would retaliate if they continued with this unfair discrimination against palm oil.
  • 21 March, 2019
    Palm oil up on slowing production growth, better exports
    Malaysian palm oil futures rose on Wednesday to a two-week high, buoyed by expectations of slowing production growth and improved exports, charting a fourth straight session of gains. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange climbed 1.6% to 2,164 ringgit (US$532.35) a tonne, reversing last week's losses. "The futures seem to be riding on expectations of slower growth in production," a Kuala Lumpur-based trader said, citing updates from plantations that a heat wave was affecting output.
  • 20 March, 2019
    French leaders admit negative campaign on Malaysian palm oil baseless
    Several French Parliamentarians and political leaders have admitted the negative campaign of the European Union on Malaysian palm oil is unfounded, says Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail. The views were expressed by members of Parliament and politicians of France in a meeting with Dr Wan Azizah at a hotel here. “The members of Parliament said they have gone to Malaysia and felt that Malaysia has a good environment and admitted that our palm oil has received negative publicity.”
  • 20 March, 2019
    Dr M: EU told Malaysia will retaliate if discrimination against palm oil continues
    Malaysia has told the European Union (EU) that it will retaliate if the EU continues to discriminate palm oil, says Tun Dr Mahathir Mohamad. The Prime Minister said aside from France, the government had written to all the heads of government of the EU regarding the matter. “We have pointed out to them that we will need to retaliate if they continue with this unfair discrimination against palm oil,” he said.
  • 20 March, 2019
    Malaysia to retaliate if EU discriminates against palm oil
    Malaysia will consider retaliating against the European Union (EU) if it goes ahead with its unfair measures against palm oil, said Tun Dr Mahathir Mohamad. The Prime Minister said the government had agreed that Malaysia should be more aggressive on the matter.
  • 19 March, 2019
    Be more aggressive over EU phase-out of palm oil
    Putrajaya needs to take a more aggressive approach to tackle the European Union’s (EU) decision to phase out palm oil from transport fuel used in that trading bloc, says the Federal Land Development Authority (Felda). Felda director-general Datuk Dr Othman Omar said this is a purely business strategy for some EU member nations. “In the past they said the cultivation of palm oil here caused deforestation, but we have stopped planting in new areas. Next they said palm oil is not green. I think as far as the lobby is concerned, they look at oil palm as more efficient and more people are attracted to produce more, so they need to kill it before it becomes their biggest competitor.
  • 18 March, 2019
    Crude palm oil prices forecast to be higher this year
    THE oil palm industry has played an important role in the economy. The planted area expanded from 55,000ha in 1960 to 5.849 million hectares last year. In tandem with the area expansion, the production of palm oil also grew from less than 100,000 tonnes in 1960 to 19.516 million tonnes last year. This expansion, especially in the 1960s, was encouraged by the diversification strategy of the government, which recognised palm oil as a complementary crop to rubber.
  • 15 March, 2019
    Malaysian palm oil price drops for 7th session on demand woes, rising supplies
    Malaysian palm oil futures fell for a seventh consecutive session on Thursday to a three-month low, as concerns over slowing demand and rising production dragged down the market. There was further pressure on prices as Europeans reduce consumption amid environmental concerns associated with the tropical product. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange closed down 1.4 percent at 2,062 ringgit ($504.28) a tonne.