NEWS FEED
  • 24 January, 2019
    Malaysia could curb French purchases if palm oil use restricted
    Malaysia will consider laws to restrict imports of French products if Paris does not withdraw plans to curb the use of palm oil in biofuels, Prime Minister Mahathir Mohamad said in a letter to French President Emmanuel Macron. French lawmakers last month voted to remove palm oil from the country's biofuel scheme as of 2020, following longstanding concerns about the environmental impact of the crop that is mainly produced in Indonesia and Malaysia.
  • 23 January, 2019
    Malaysian palm oil price hits over 4-month high on bullish price forecasts
    Malaysian palm oil futures extended gains to a more than four-month high on Tuesday evening, supported by bullish price forecasts at an industry conference over the weekend and strength in U.S. soyoil. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose as much as 1.9 percent to 2,269 ringgit ($549.39) a tonne, its strongest since Sept. 7.
  • 23 January, 2019
    'Irresponsible for WHO Bulletin to compare palm oil with tobacco and alchohol'
    The World Health Organisation’s (WHO) recent bulletin is peppered with errors, omissions, assumptions and totally biased, according to theoilpalm.org latest posting. On January 8, 2019, a study published by the WHO claimed the palm oil industry was deploying tactics similar to those of the alcohol and tobacco industries to influence nutrition research. The portal said the study titled “The palm oil industry and non-communicable diseases” had dishonestly claimed the relationship between the palm oil and processed food industries, and the tactics they employed resemble practices adopted by the tobacco and alcohol industries.
  • 23 January, 2019
    MAHB, AirAsia, Malaysia Airlines, Malindo to boost Malaysia's 'Love MY Palm Oil' campaign
    Malaysia Airports Holdings Bhd (MAHB), together with three major airlines — Malaysia Airlines Bhd, AirAsia Group Bhd and Malindo Airways Sdn Bhd, have pledged their support to promote Malaysian palm oil, according to the Ministry of Primary Industries. The four aviation players expressed their support to further boost the ministry's 'Love MY Palm Oil' campaign during meetings with the Minister of Primary Industries Teresa Kok, when she informed them about her aspirations and plans to promote palm oil, the ministry said in a statement.
  • 22 January, 2019
    Palm oil prices to rise to RM2,400/T by end-March — analyst Mistry
    Benchmark palm oil prices are expected to rise to RM2,400 a tonne by end-March, according to forecasts by industry analyst Dorab Mistry, as the market has "bottomed out". The price forecast by Mistry, who is also the director of Indian consumer goods company Godrej International, assumes a Brent crude oil price of US$70-US$90 per barrel, he said. "The market is hoping to see combined Malaysian and Indonesian stocks decline to about 6 million tonnes by April-May 2019," according to a presentation for an industry conference in Karachi that was viewed by Reuters.
  • 22 January, 2019
    Don’t ignore palm oil’s power to alleviate poverty and improve health
    The World Health Organization’s (WHO) recent bulletin contained an article focused on the palm oil sector. The article was full of errors, omissions, assumptions and other evidence of bias. The fact that those biases exist is a major problem, but the wider problem is the following: The WHO article’s stated concern was that the palm oil industry focuses on “lobbying”, to the detriment of scientific evidence. And yet, here is an article from the WHO focused exclusively on regurgitating the talking points of anti-palm oil lobbyists, while ignoring voluminous scientific evidence that highlights the benefits of palm oil.
  • 18 January, 2019
    Palm edges lower, on track for second day of declines
    Malaysian palm oil futures edged lower in a range-bound trading on Thursday ahead of likely price forecasts at an industry event and as crude oil prices fell. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange eased 0.1% to RM2,174 a tonne at noon, heading for a second straight session of losses. Trading volumes stood at 10,288 lots of 25 tonnes each at the midday break.
  • 18 January, 2019
    Palm oil may fall to RM2,150
    Palm oil may fall to RM2,150 per tonne, to fill a gap forming on between Jan 15 and Jan 16. The gap was basically due to a switch of the contracts between the front month and the second month. It looks like a common gap which will be filled. The gap is not powerful enough to alter the bearish readings. An uptrend from RM1,940 is still believed to have peaked around RM2,198, the 176.4% projection level of an uptrend from RM1,979.
  • 18 January, 2019
    Malaysia urges WHO to retract, rectify discriminatory palm oil report
    The Primary Industries Ministry said today it will utilise all available channels to urge the World Health Organisation (WHO) to retract or rectify its report that drew a parallel between lobbying tactics used by the palm oil industry and those in the alcohol and tobacco sectors. According to news reports, WHO had in a study published last week claimed that the tactics were used to influence public and political discussion on health and environmental effects of palm oil products.
  • 17 January, 2019
    Palm falls on weaker US soyoil, crude oil prices
    Malaysian palm oil futures edged down on Wednesday, though remained range-bound, tracking weakness in soyoil overnight on the U.S. Chicago Board of Trade and crude oil prices. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was down 0.4 percent at 2,175 ringgit ($529.45) a tonne at the close of trade.