News
Palm oil prices to climb by at least US$100 within next four to six months, says Mielke
KUALA LUMPUR (Sept 12): Crude palm oil (CPO) prices are expected to climb by at least US$100 within the next four to six months, according to ISTA Mielke GmbH (Oil World) executive director Thomas Mielke. The rise in CPO prices, according to him, is driven by a combination of factors, including deve...
MPOA: Dire need for oil palm replanting
PETALING JAYA: There is an urgent need to ensure the sustainability of the palm oil industry in Malaysia and maintaining a strong level of output for competitive reasons. This is necessary through the replanting of ageing and unproductive oil palm trees in the country to ensure that the industry rem...
Malaysia keeps September crude palm oil export duty at 8%
KUALA LUMPUR: Malaysia maintained its export tax for crude palm oil at 8% for September and increased its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday. The world’s second-largest palm exporter calculated a reference price of 3,755.13 ringgit ($808.08) p...
Sabah earns RM6.22b from crude palm oil tax from 2018, among biggest earners for state coffers
KOTA KINABALU, Aug 8 — The Sabah state government said today it has collected some RM6.22 billion in sales tax from its crude palm oil industry from 2018 to this year. State finance assistant minister Datuk Julita Mojungki said the income from the State Sales Tax (SST) on crude palm oil was among th...
VEGOILS-Palm oil ticks down on higher stocks, poor demand outlook
KUALA LUMPUR, Aug 7 (Reuters) – Malaysian palm oil futures eased on Monday on range-bound trading, weighed by expectations of higher supply in the world’s second-largest producer and sluggish demand. The benchmark palm oil contract FCPOc3 for October delivery on the B...
Palm oil prices may rise above RM4,300 in 2024 on supply, output woes -MPOC
KUALA LUMPUR: Malaysia’s crude palm oil prices will trade at RM3,700-RM4,200 a metric ton in the second half of 2023, and will remain supported in the long term, state agency Malaysian Palm Oil Council (MPOC) said on Tuesday. Heading into 2024, there is a strong possibility that prices may ris...
