NEWS FEED
  • 14 August, 2018
    Govt to promote palm oil in more international markets
    The Primary Industries Ministry will venture into more international markets to promote Malaysia’s palm oil. Deputy Primary Industries Minister Shamsul Iskandar Mohd Akin said the ministry would approach Ethiopia and other North African countries to expand the palm oil market. “North African and Egypt markets are very important for us to increase potential market for Malaysian palm oil, thus developing the palm oil industry,” he said during a press conference after the launching of the 38th Palm Oil Familiarisation Programme (POFP 2018).
  • 14 August, 2018
    Palm drops for third straight day tracking weak soyoil
    Malaysian palm oil futures declined in the first half of trade on Monday, and were in line for a third straight day of losses, tracking weakness in soyoil on the Chicago Board of Trade. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.8% at RM2,225 (US$544.01) a tonne at noon. It earlier fell as much as 1.6% to RM2,206, its lowest levels since Aug 7.
  • 14 August, 2018
    Sabah govt to ensure sufficient POIC infrastructure for downstream industries
    The state government will ensure there is sufficient infrastructure at the Palm Oil Industrial Cluster (POIC) in Lahad Datu and Sandakan to develop downstream industries. Deputy Chief Minister Datuk Seri Madius Tangau said this would reduce business costs and attract more investors to both areas. He was responding to a question from Datuk James Ratib (Independent-Sugut) on efforts to maximise the POIC’s potential. He said the state government would also allow Lahad Datu POIC port to operate round the clock through “legal landing place’” status, while the Sandakan facility would add palm oil product bulking capacities to accomodate demand.
  • 14 August, 2018
    Malaysian palm oil price in sharpest drop in a month on trade war
    Malaysian palm oil futures registered its sharpest daily decline in a month on Monday evening, falling for a third straight day on weakness in soyoil on the Chicago Board of Trade. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 1.7 percent at 2,204 ringgit ($538.88) a tonne at the end of the trading day for its sharpest daily decline since July 13. It had dropped earlier by as much as 1.9 percent to 2,200 ringgit, its lowest since Aug. 7. Trading volumes stood at 35,352 lots of 25 tonnes each at the end of the trading day.
  • 13 August, 2018
    CPO prices under pressure on lacklustre demand
    PublicInvest Research expects to see a weaker outlook on crude palm oil (CPO) in the second half of this year unless there is a significant pick-up in demand. The research house said in its Monday report that CPO price has been continuously under pressure due to the heightening inventory outlook amid lacklustre demand from most major consuming countries. This comes on reports that Malaysian palm oil inventories showed marginal growth of 1.2% month-on-month in July as production rebounded 12.8% after falling for three straight months.
  • 13 August, 2018
    Malaysian palm oil/Vegoils: Market factors to watch Monday Aug 13
    Malaysian palm oil futures were down on Friday evening after official data release showed a rise in production, though losses were capped as the gain in stockpiles was below market expectations. U.S. soybean futures tumbled nearly 5 percent on Friday in the steepest single-day percentage drop in three years after the government projected larger-than-expected U.S. crop yields and said stocks of the oilseed would swell to record highs.
  • 10 August, 2018
    Go for mechanisation to mitigate impact of shortage of workers
    Given the lack of interest among locals to work in the plantation sector and the difficulty in employing foreign workers in the near future, the way forward for the plantation sector is to accelerate efforts in adoption of mechanisation. “We cannot afford to see the industry evolve itself to resolve these issues. We need to have a strong determination and resolve to overcome these challenges in the interest of all stakeholders,” said Deputy Chief Minister and Minister of Modernisation of Agriculture, Native Land and Regional Development Datuk Amar Douglas Uggah Embas. He thus urged industry players to constantly adopt new innovations, improve current practices, formulate new strategies and implement the necessary actions to remain globally competitive.
  • 10 August, 2018
    Sarawak to enforce MSPO certification for oil palm industry
    Deputy Chief Minister Datuk Amar Douglas Uggah Embas said the introduction of Malaysian Sustainable Palm Oil (MSPO)certification scheme which entails compliance with international standards and environmental requirements by the government is therefore timely in addressing the industry’s sustainability. “The government has made MSPO certification scheme mandatory for plantations and smallholders and has set the deadline for the two sectors to be certified by Dec 31, 2018 and Dec 31 2019 respectively.
  • 10 August, 2018
    Malaysian palm oil price snaps winning streak on CBOT soyoil fall
    Malaysian palm oil futures ended down on Thursday, snapping a four-session winning streak, on losses overnight in soyoil on the Chicago Board of Trade (CBOT) and as traders turned cautious ahead of a slew of data releases. Official July data for Malaysia's palm oil inventories, production and exports is scheduled for release by the Malaysian Palm Oil Board (MPOB) after 0400 GMT on Friday. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.5 percent at 2,246 ringgit ($551.30) a tonne at the end of the trading day. The market climbed to a one-month high in its previous trading session and is up 2.3 percent for the week so far, its sharpest weekly gain since mid May.
  • 10 August, 2018
    Palm oil players encouraged to diversify into downstream sectors
    Local palm oil players are strongly encouraged to diversify into further downstream sectors such as oleo derivatives and specialty oleochemical-related ventures like the production of high-value oleochemical derivatives, second-generation bio-fuels for power generation, and food and health products as a way forward. “The waste to wealth to health pathway is the way forward in promoting our clean environment. The industry should therefore move forward in maximising its potential to generate wealth and contribute towards promoting the environment-friendly image of the industry.