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India’s move to cut CPO import duty a positive sign for agribusiness sector, says CGS-CIMB

KUALA LUMPUR (Oct 14): India’s decision to cut its import duty on edible oils will boost demand for crude palm oil (CPO) in India, which is a positive sign for Malaysian upstream plantation companies and integrated palm oil players, said CGS-CIMB. In a note, the research house maintains its &#...

India slashes import taxes on palm oil as retail cooking oil prices remain high

NEW DELHI (Oct 13): India on Wednesday slashed import taxes on palm oil and other edible oils as local consumer prices remain at high levels. It removed the basic import duty and slashed an agriculture development cess on crude palm oil (CPO) to 7.5% from 20%. The effective import duty, which includ...

Palm oil stocks fall more than expected

KUALA LUMPUR: Malaysia’s end-September palm oil stocks fell more sharply than expected as export demand surged while production stayed flat, according to data by the palm oil board yesterday, supporting prices that are already trading near all-time highs. Inventories at the world’s second-largest pr...

Lifting of foreign labour ban on oil palm plantations offers sector slight relief

WHILE Putrajaya’s lifting of its foreign labour freeze on the plantation sector marks a silver lining for players, there is still some way to go before the strained industry sees any meaningful impact. Putrajaya’s special grant to bring in 32,000 foreign workers for the plantation sector, which will...

CPO futures climb to a new all-time high of RM4,872 a tonne

KUALA LUMPUR (Oct 6): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives continued its upward momentum to close at a new all-time high, in line with the lower output and weaker ringgit. The benchmark palm oil contract for December 2021 soared RM155 to RM4,872 a tonne. Singapore-...

German ban on palm oil based on false information

KUALA LUMPUR (Oct 5): Germany’s palm oil ban is based on false information and it signalled a wilful blindness to environmental facts, Palm Oil Monitor said in a post on its website. Recently, the country’s Environment, Nature Conservation and Nuclear Safety Minister Svenja Schulze announced that Ge...

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