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MPOC: Malaysia palm oil prices seen trading above RM6,000 in 2022
KUALA LUMPUR (June 1): State agency the Malaysian Palm Oil Council (MPOC) on Wednesday lowered its production outlook for the world’s second largest producer and pegged prices to remain above RM6,000 a tonne this year. MPOC forecast Malaysia’s 2022 production at 18.6 million tonnes, up f...
Indonesia cancels plan to send workers to Malaysia’s palm plantations
KUALA LUMPUR: Indonesia cancelled a plan to send its citizens to work in palm oil plantations in neighbouring Malaysia, which has faced a labour shortage, its envoy to Kuala Lumpur said on Tuesday. Malaysia, the world’s second-largest palm oil producer, was set to welcome the first m...
MPOB: Malaysia worried about continual changes in benchmark standards for sustainable palm oil
KUALA LUMPUR (May 17): Malaysia is worried that the benchmark standards keep on changing and are difficult to comply with, especially for smallholders, as it continues to address sustainability aspects and corrects the negative perception and allegations towards its palm oil, the Malaysian...
Indonesia stuns markets as it widens ban to include CPO, refined palm oil
JAKARTA/MUMBAI (April 27): Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal. The announcement flipped the minister’s stat...
Palm oil rallies 10% as market prepares for Indonesia export ban
(April 27): Palm oil jumped 10% while rival soybean oil hit a fresh record high as traders prepare for the start of Indonesia’s export halt. Malaysia, the world’s second-biggest producer, is set to see a surge in demand for its products after top grower Indonesia said it will ban exports of RBD palm...
Malaysia says can meet global demand after Indonesia bans palm oil exports
KUALA LUMPUR (April 24): Malaysia is confident it can meet global demand for palm oil after Indonesia’s announcement that it has banned exports of the commodity, said Plantation Industry and Commodities Minister Datuk Zuraida Kamaruddin. “I am confident that Malaysia is ready and able to suppl...
