News
Fears of weaker China demand for palm oil products temporary: Affin Hwang
PETALING JAYA: Affin Hwang Capital said fears that China could potentially buy less palm oil products due to the novel coronavirus outbreak are temporary. Malaysian CPO prices have remained above RM2,900/metric ton (MT) for most of January 2020, but it plunged to RM2,640/MT on Jan 28, mainly du...
KLK, Sarawak Oil Palms lead share climb as palm oil stockpiles seen falling
KUALA LUMPUR (Feb 5): Shares of palm oil-related companies — led by Kuala Lumpur Kepong Bhd (KLK) and Sarawak Oil Palms Bhd (SOP) — climbed as palm oil inventories were seen to fall 12% to 1.76 million tonnes in January, the lowest in two and a half years. KLK closed up 56 sen or 2.45% […]
Malaysian palm oil bosses urge action against ‘toxic’ environment groups
KUALA LUMPUR (Feb 4): Malaysian palm oil industry officials on Tuesday urged the government to take action against environmental groups critical of the commodity, with one executive calling them “toxic entities”. The cultivation of palm oil, which is used in everything from ice cream to ...
Pakistan ready to import more M’sian palm oil, says Dr M
PUTRAJAYA: Pakistan is ready to import more palm oil from Malaysia, which is seeking other markets following controls imposed by India on refined palm oil imports. Prime Minister Tun Dr Mahathir Mohamad (pic) said the sale of palm oil was discussed by him and Pakistan Prime Minister Imran Khan durin...
Indonesia’ palm oil exports hit record in 2019
JAKARTA (Feb 3): The world’s top palm oil producer Indonesia exported a record 36.18 million tonnes of palm oil and its products, including biodiesel and oleochemical last year, data from the Indonesia Palm Oil Association (GAPKI) showed on Monday. Exports rose by 4.2% from 34.71 million tonne...
India’s import tax on crude palm oil from Asean unchanged: Sources
NEW DELHI: India’s Finance Ministry has issued a notification that says the import tax on crude palm oil (CPO) will be 44%, but trade sources point out there is no change in the existing duty structure on cargoes from Asean. “In the (Indian federal) budget notification, import duty is mentioned...
