KUALA LUMPUR: Malaysian palm oil futures gained for a third straight session to hit their highest in more than six months on Wednesday, as trading breached a psychological barrier and market was upbeat about the industry outlook.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange shot up 1.56 percent to 2,873 ringgit ($685.68).
KUALA LUMPUR: France’s current adversarial position on the palm oil trade is hurting relations with Malaysia, Malaysian Palm Oil Board chairman Datuk Seri Ahmad Hamzah said today.
“French attacks on (the palm oil industry) are uncalled for and misguided. France should be cherishing 60 years of diplomatic relations with Malaysia,” he said.
Ahmad was responding to France Environment Minister Nicolas …
KUALA LUMPUR: Global palm oil output is expected to increase by six million tonnes in 2017 as oil palm trees were recovering from the adverse effects of the El Nino, says a leading industry analyst Thomas Mielke.
He said the current good weather, particularly in Malaysia and Indonesia, the world’s top two producers was also aiding output.
In 2016, palm …
The industry’s centenary this year is a learning opportunity not to be wasted
THE Malaysian palm oil industry turns 100 this year. Pinpointing the start of an industry this old is often tricky, but in this case, the birth is widely recognised as the first time that oil palm was planted commercially in this country.
That was in 1917. The …
PUTRAJAYA, Jan 11 — The Cabinet has agreed to postpone to next year, the implementation of levy payment on foreign workers by employers, which will be enforced under the Employer Mandatory Commitment (EMC).
Transport Minister Datuk Seri Liow Tiong Lai said the Cabinet today, had also agreed to look into a proper ecosystem, aimed at providing convenience to industries in …
Ferrero runs TV commercial to allay fear over cancer risk
ALBA: The US$44bil palm oil industry, under pressure in Europe after authorities listed the edible oil as a cancer risk, has found a vocal ally in the food sector: the maker of Nutella.
Italian confectionery firm Ferrero has taken a public stand in defence of an ingredient that some other …
KUALA LUMPUR: OIL palm planters can look forward to encouraging palm oil pricing on the back of a strong US dollar and limited supply of the oil as palm trees are still recovering from the El Nino weather phenomenon. In the past two years, oil palm trees have been bearing less fruit. This year, palm oil production in Indonesia and …