News
Palm oil industry facing collapse
Labour shortage is a perennial problem besetting the industry, because locals generally shun jobs in the industry forcing refineries, oil palm estates and smallholders to depend heavily on foreign workers. — Bernama file photo KUCHING (July 11): Sarawak’s palm oil industry is teetering on the brink ...
Frenzy in plantation deals on back of palm oil rally
KUALA LUMPUR: A blistering palm oil rally is stoking a flurry of plantation deals as growers brace for stiffer challenges from environmental and labour risks. Higher prices of the tropical oil over the past year created a profit windfall for the industry, making the time ripe for cash-rich planters ...
TSH Resources’ Sabah oil palm asset sale a good deal — analysts
KUALA LUMPUR (July 7): Analysts have called TSH Resources Bhd’s proposed disposal of two oil palm estates and one palm oil mill in Sabah for RM248 million a good deal as the price is higher than IOI Corp Bhd’s planned acquisition of palm oil estates there. They also view the asset sale —...
Malaysia’s end-June palm oil stocks seen rising to nine-month high
KUALA LUMPUR (July 5): Malaysia’s palm oil inventories at the end of June likely hit a nine-month high as production jumped, although a rebound in exports kept supply tight, a Reuters survey showed today. The stockpile in the world’s second-largest producer was seen rising...
India cuts crude palm oil import tax, potentially boosting imports
MUMBAI (June 29): India on Tuesday cut the base import tax on crude palm oil to 10% from 15% for three months, the government said in a statement, as the world’s biggest vegetable oil buyer tries to dampen near record high prices. The tax cut could make palm oil more attractive than rival soyo...
Higher CPO prices drive plantation’s strong 1Q performance
PLANTATION companies on Bursa Malaysia posted stronger financial performance in the first quarter of 2021 (1Q21) driven by favourable prices of crude palm oil (CPO). The industry is also set to enjoy strong prices due to labour shortages and strong demand albeit at lower prices, according to MIDF Am...
