MEDIA & RESOURCE CENTER

Palm oil extends gains as output concerns fade, better export outlook

Malaysian palm oil futures hit a more than two week high on Thursday, as easing concerns about high output and expectations of better export demand buoyed investor sentiment. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange was up 0.4% at 2,172 ringgit (US$534.98) a tonne, locking in a fifth straight session of gains, after earlier hitting its highest level since March 4.
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Posted: 22-Mar-2019

Palm oil firms take part in 'Love My Palm Oil' campaign

Thirty-one producers of palm oil-based products have agreed to put the "Sayangi Sawitku” labels on their products in support of the Government’s “Love My Palm Oil” campaign. Primary Industries Minister Teresa Kok Suh Sim said the move was agreed to at a meeting with representatives of the companies here today. The companies, which are involved in, among others, food, beverages, health care, cosmetics and fertilisers, will become ambassadors promoting the advantages of palm oil.
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Posted: 22-Mar-2019

Stop palm oil discrimination

If the European Union (EU) continues to discriminate against palm oil, Malaysia will retaliate by boycotting certain Euro­pean products, says Prime Minister Tun Dr Mahathir Mohamad. “Yes, we think we will stop buying some European products. That is one thing that we can do,” he told reporters during a press conference at Parliament lobby yesterday. On Tuesday, Dr Mahathir said the government had written to all the heads of EU governments saying that Malaysia would retaliate if they continued with this unfair discrimination against palm oil.
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Posted: 21-Mar-2019

Palm oil up on slowing production growth, better exports

Malaysian palm oil futures rose on Wednesday to a two-week high, buoyed by expectations of slowing production growth and improved exports, charting a fourth straight session of gains. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange climbed 1.6% to 2,164 ringgit (US$532.35) a tonne, reversing last week's losses. "The futures seem to be riding on expectations of slower growth in production," a Kuala Lumpur-based trader said, citing updates from plantations that a heat wave was affecting output.
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Posted: 21-Mar-2019

French leaders admit negative campaign on Malaysian palm oil baseless

Several French Parliamentarians and political leaders have admitted the negative campaign of the European Union on Malaysian palm oil is unfounded, says Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail. The views were expressed by members of Parliament and politicians of France in a meeting with Dr Wan Azizah at a hotel here. “The members of Parliament said they have gone to Malaysia and felt that Malaysia has a good environment and admitted that our palm oil has received negative publicity.”
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Posted: 20-Mar-2019
 
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