Business Times

9 May, 2011

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives is expected to remain rangebound next week due to volatile conditions in the global economy, dealers said.

They said demand for vegetable oil would be affected following the tightening of monetary policy by authorities around the world to help curb inflation that has sparked market concern.

Meanwhile, players are also adopting a wait-and-see approach ahead of the release of production, exports and stocks data by the Malaysian Palm Oil Board on Tuesday.

Other stock data on the same day are from two cargo surveyors, Intertek Testing Services and Societe General de Surveillance. Read the rest of this entry »

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The Jakarta Globe

8 May, 2011

Indonesian palm oil producers hope the Asean-European Union Business Summit leads to a breakthrough in exports of crude palm oil to Europe, which fell sharply after more stringent environmental regulations were put in place last year.

Derom Bangun, vice chairman of the Indonesian Palm Oil Board (DMSI), told the Jakarta Globe on Sunday that exports to EU countries fell after it instituted carbon footprint and conservation requirements for companies exporting palm oil to its member nations.

Indonesia’s exports to Europe in 2010 were just 15 percent of its 15.6 million tons of overall CPO shipments, down from 20 percent in 2008. Read the rest of this entry »

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By Kim Young-jin

8 May, 2011

The Korea Times

With palm oil gaining popularity for its wide range of uses ­ from cooking to alternative fuel ­ Malaysia stands ready to supply greater amounts to Korea, an official said.

Palm oil products from Malaysia, Korea’s leading palm oil supplier, took the spotlight at a recent trade fair in Seoul organized by the Malaysian Palm Oil Council (MPOC) and the Korean Society of Food Science and Technology (KSFST).

“Malaysia takes its position as South Korea’s favored palm oil supplier seriously,” said Tab Sri Bernard Dompok, Malaysian minister for plantation industries, in a keynote speech. “We will continue to foster closer ties and encourage further use of palm oil in both the food and non-food sectors.”

The affordable oil has emerged as a source of alternative energy at a time when crude oil prices have soared. Its products represent 21 percent of the oil and fats industry here. Read the rest of this entry »

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Borneo Times

8 May, 2011

The Palm Oil Industrial Cluster(POIC) Sandakan will offer up to 25,000 job opportunities to locals when it becomes fully operational in 2014.

POIC Sandakan chairman Datuk Bernard Maraat said infrastructure construction work in the area, especially on the access road to the site, is now being actively implemented and is expected to be fully completed by early 2013.

“To date, the infrastructure construction has reached 80 per cent with the rest being technical and electronics work,” he told reporters after the opening of the 8th Annual General Meeting of former Members of Parliament and State Assemblymen (Mubarak) here yesterday.

The meeting was officiated by Chief Minister Datuk Seri Musa Aman. Read the rest of this entry »

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