MEDIA & RESOURCE CENTER

Malaysia could curb French purchases if palm oil use restricted

24-Jan-2019
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.

Malaysian palm oil price hits over 4-month high on bullish price forecasts

23-Jan-2019
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.

'Irresponsible for WHO Bulletin to compare palm oil with tobacco and alchohol'

23-Jan-2019
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.

MAHB, AirAsia, Malaysia Airlines, Malindo to boost Malaysia's 'Love MY Palm Oil' campaign

23-Jan-2019
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.

Palm oil prices to rise to RM2,400/T by end-March — analyst Mistry

22-Jan-2019
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.
 
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