News
Malaysia welcomes India’s move to remove 5pc duty on palm oil imports
KUALA LUMPUR, March 25 — Malaysia welcomes India’s decision not to renew the imposition of the five per cent bilateral safeguard duty on refined palm oil from the country, Plantations Industries and Commodities Minister Datuk Mohd Khairuddin Aman Razali said. The safeguard duty was imposed by India ...
Palm plantations exempted from virus closures
KUALA LUMPUR/SINGAPORE (Reuters) – Malaysia has directed palm plantations to continue operations even as the country shuts businesses to prevent the spread of the coronavirus, a producer group said on Wednesday, ensuring steady supplies of the tropical oil to global markets. Malaysia is the wo...
India halts key policy plans as revenues shrink, palm oil spat with Malaysia affects import taxes
NEW DELHI, March 17 — India has dropped at least three crucial policy initiatives, including lowering import taxes on vegetable oils, as the outbreak of the coronavirus hits government revenue collection, two sources said on Tuesday. India’s income tax revenues contracted 3.5 per cent in the first 1...
Malaysia aims to resolve palm oil spat with India within a month
KUALA LUMPUR (March 11): Malaysia has set itself a target of a month within which to resolve its trade dispute with India over palm oil, the southeast Asian nation’s new commodities minister said on Wednesday. The deadline follows this week’s swearing-in of a new Malaysian cabinet after ...
Malaysia’s palm oil stocks fall 4.2% in February
KUALA LUMPUR (March 10): Malaysia’s total palm oil stocks fell 4.2% to 1.68 million tonnes in February from 1.76 million tonnes in January. In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stock dropped 0.23% to 842,965 tonnes from 844,930 tonnes previously. ...
Local palm oil players to keep an eye on new ministry’s policy move
KUALA LUMPUR (March 9): Local palm oil market players will keep an eye on the Plantation Industries and Commodities Ministry’s move on key policies that have been supporting the industry following the appointment of Datuk Dr Khairuddin Aman Razali as the minister today. Singapore-based Palm Oi...
