News
Malaysian palm oil up for second day
Malaysian palm oil futures gained for a second straight session on Monday, underpinned by bargain buying and data indicating a slower rate of decline in February exports amid hopes that Chinese demand will recover from the effects of coronavirus. The benchmark palm oil contract for May delivery on t...
Teresa Kok denies Malaysia scrapping plans of suing EU over palm oil restrictions
KUALA LUMPUR: Teresa Kok has denied informing the media that Malaysia will back off from its plans to file the WTO complaint against the European Union (EU) and its Delegated Regulation. Referring to a news report by Reuters today, the Primary Industries Minister said on the contrary, Malaysia has n...
India’s curbs on Malaysian palm oil imports stir up edible oil trade
KUALA LUMPUR/MUMBAI (Feb 14): India’s halt on Malaysian palm oil imports has disrupted global edible oil trade flows, with Indonesia diverting supplies to feed India, Malaysia rushing to tap markets left behind by Jakarta, and India substituting palm with other oils. India, the top global palm...
Indonesia exports over 36 million tonnes of palm oil in 2019
Jakarta (VNA) – Indonesia exported a record 36.18 million tonnes of crude palm oil (CPO) and its products last year, from 34.71 million tonnes in 2018, according to data from the Indonesia Palm Oil Association (GAPKI). Rising demand from China, the Middle East and African markets offset decline...
Oil price rises over 3% as demand worries ease amid fewer new coronavirus cases
NEW YORK: Oil prices rose over 3% on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover. Brent futures gained $1.78, or 3.3%, to settle at $55.7...
GDP growth at 10-year low in 2019
KUALA LUMPUR: While Malaysia’s 2019 gross domestic product (GDP) growth skidded to a 10-year low, Bank Negara Malaysia (BNM) governor Datuk Nor Shamsiah Mohd Yunus said the country has “that policy space” for another rate cut to support the economy. In the event of any challenges to economic growth ...
