News
Indonesia to review palm oil export quota
JAKARTA: Indonesia will review the ratio of its palm oil export quota amid rising prices of domestic cooking oil, according to the Coordinating Ministry of Maritime and Investment Affairs. Indonesia imposes a so-called “domestic market obligation” (DMO) on palm oil, whereby companies are allowed to ...
CGS-CIMB Securities expects higher palm oil stocks for Jan
KUALA LUMPUR, Feb 7 — CGS-CIMB Securities Sdn Bhd expects Malaysia’s palm oil stock to rise 3.0 per cent month-on-month (m-o-m) to 2.26 million tonnes at end-January 2023 as production and imports exceeded exports and local usage. In a note, the securities firm said findings from a survey of planter...
Indonesia to suspend some palm oil export permits – officials
JAKARTA, Feb 6 (Reuters) – Indonesia will suspend some palm oil export permits to secure domestic supply amid rising cooking oil prices ahead of upcoming Islamic festivals, senior cabinet minister Luhut Pandjaitan said on his official Instagram account on Monday. Palm oil exporters had accumul...
US finds Sime Darby no longer using forced labour for palm oil
(Feb 3): Sime Darby Plantation Bhd, the world’s largest oil palm grower, was found to no longer be using forced labour, clearing a path for US Customs to lift a ban on the Malaysian firm’s products. The planter’s palm oil and derivative products “are no longer mined, produced, or manufactured in any...
U.S. says Sime Darby Plantation products no longer produced with forced labour
KUALA LUMPUR, Feb 3 (Reuters) – U.S. customs authorities said palm oil products made by Sime Darby Plantation <SIPL.KL> were no longer produced with forced labour, in a sign that a two-year import ban on the Malaysian firm will soon be lifted. Goods made by Sime Darby Plantation, the wor...
Malaysia, Indonesia to continue collaboration to counter palm oil criticism, says DPM Fadillah
BANGI, Jan 31 — Malaysia will continue to collaborate with Indonesia to counter the European Union’s (EU) criticism against palm oil, said Deputy Prime Minister and Plantation and Commodities Minister Datuk Seri Fadillah Yusof. He said Malaysia and Indonesia will talk about the laws which banned the...
