The Borneo Post

14 May, 2011

Malaysia and Indonesia will finalise the proposal to set up a European palm oil council (Epoc) by yearend to more effectively address negative publicity on palm oil in the European Union (EU).

A body to provide the industry a collective platform, Epoc will represent both countries in public debates on issues concerning palm oil.

Its establishment was supported by the Malaysian and Indonesian governments at the 6th Joint Committee Meeting on Bilateral Cooperation on Commodities.

The meeting, held at a hotel here, was led by Plantation Industries and Commodities Minister Tan Sri Bernard Dompok and Indonesia’s Agriculture Minister Dr Suswono Asyraf. Read the rest of this entry »

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Bernama

13 May, 2011

The European Palm Oil Council (EPOC) is expected to be operational by year-end, said Plantation Industries and Commodities Minister, Tan Sri Bernard Dompok.

Dompok said EPOC would counter negative publicity in the European Union (EU) countries on palm oil industry in Malaysia and Indonesia

“It will focus on oil palm issues such as sustainability, energy security and public health.

“We hope the council can get off the ground by next year,” he told reporters after the sixth joint committee meeting on bilateral cooperation on commodities between Malaysia and Indonesia here Friday.

Indonesia was represented by its Agriculture Minister Dr Suswono Asyraf. 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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Fresh Food Portal

4 May, 2011

The governments of Tanzania and Nigeria have offered tax breaks for palm oil plantations, with the world’s biggest producers Malaysia and Indonesia expected to run out of land by 2022, AFP reported.

The story reported Southeast Asian palm oil companies were looking to the African continent in a bid to meet growing demand, while the U.S. Department of Agriculture (USDA) predicts a 246,000 ton supply deficit in the year to September.

Even though land in Africa can be comparatively cheap there are many hidden costs such as a lack of clear land titles and poor margins, while social tensions can arise if local people do not benefit from the projects, the story reported. Read the rest of this entry »

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Reuters

4 May, 2011

Astra Agro Lestari produced 275,100 tonnes of crude palm oil (CPO) during the first quarter, up 25.7 percent versus the same period last year, Indonesia’s largest listed plantation firm said on Wednesday.

The firm had a total of 263,608 hectares of palm oil plantations by the end of the first quarter, it said in a statement to Indonesia’s Stock Exchange

The company, which is controlled by the country’s biggest automotive distributor Astra International , produced 1.02 million tonnes of fresh fruit bunches or a 20.6 percent increased from the first quarter in 2010, the statement added. Read the rest of this entry »

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By Melissa Goh

Channel News Asia

29 April, 2011

Chinese Premier Wen Jiabao has said China will continue its steady import of crude palm oil from Malaysia.

He gave the commitment after meeting Malaysian Prime Minister Najib Razak in Putrajaya on Thursday, on the second of his two-day working visit.

Both leaders witnessed the signing of a series of agreements ranging from trade, investment, education, infrastructure and telecommunication.

It is Premier Wen’s second official visit to Malaysia. Read the rest of this entry »

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By Ranjeetha Pakiam, Luzi Ann Javier and Jeff Wilson

Bloomberg

At a time when consumers are focused on food costs that are within about 3 percent of a record, stockpiles of edible oils needed to make everything from noodles to fish sticks are dropping to a three-decade low.

The combined stocks of nine oils will plunge 25 percent to 9.39 million metric tons this year, or about 23 days of demand, the fewest since 1974, the U.S. Department of Agriculture estimates. Palm oil prices will climb as much as 23 percent to 4,000 ringgit ($1,324) a ton by Dec. 31, based on the median in a Bloomberg survey of 11 analysts and traders. Read the rest of this entry »

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