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MPI In The News

MPI di dalam Akhbar

https://www.klsescreener.com/v2/news/view/432012/m-sia-indonesia-urged-to-work-together-to-enhance-palm-oil-usage
Source: klsescreener.com

KUALA LUMPUR: Malaysia and Indonesia should work together to enhance the usage of palm oil in the global market and tackle the misunderstanding surrounding the commodity, particularly in Europe and the United States, Oil World executive director Thomas Mielke said.
He said the world’s top two palm oil producers should disseminate the real fact that palm oil is sustainably produced.
“It should also include efforts at improving the farming standards and criteria which are equal to soya bean oil, grape seed and also sunflower oil.
“There is resistance against palm oil in many countries in the world. But, these are all based on false information due to the activities of non-governmental organisations.
“Therefore, it is important for both Malaysia and Indonesia to join forces and approach the European Union for example, and others countries to protect the crop,” he told Bernama recently.
The edible oil analyst said both countries should collaborate on promotional activities in countries thwat restricted the usage and consumption of palm oil.
He also said that within the next four to six months, the crude palm oil futures on Bursa Malaysia Derivative would rise to a range of between RM2,400 to RM2,600 per tonne.
Meanwhile, Kamales Lardi, managing partner of Lardi & Partner Consulting GmbH, Strategy and Business Advisory, urged Malaysia to have a strong campaign to communicate directly to the masses in the EU against the proposed ban.
“About 43 per cent of Europeans actively use the social media and hence, it is a good way to engage with them,” she said.
Campaigners within the EU have over the years been spreading false information on Malaysian palm oil, claiming it was not produced in an environmentally friendly manner.
Commenting on this, Lardi said the bottom-up communication with the masses would have a significant effect, and not just among the people, but regulators too.
It should be used to disseminate the right information and not when there is some crisis, she added. — Bernama

https://www.thestar.com.my/business/business-news/2018/12/06/palm-oil-price-drops-on-high-stock-outlook-indonesian-levy-change/
Source: The Star


 
The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 1.2 percent to 1,995 ringgit ($480.43) a tonne by the close of trade, after earlier dropping as much as 1.5 percent to 1,990 ringgit. Trading volumes stood at 27,937 lots of 25 tonnes each.
KUALA LUMPUR: Malaysian palm oil futures fell more than 1 percent on Wednesday due to expectations of rising inventories in Malaysia and a change in Indonesia's export levy rules.
Indonesia relaxed rules on palm oil levies and derivative products effective immediately following a drop in prices, the country's finance ministry said on Wednesday.
It will not collect levies from palm exporters when prices are below $570 per tonne, but will charge $10-$25 a tonne once prices are in a range of $570-$619 per tonne. The levy will rise to $20-$50 when prices hit above $619 per tonne.
The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 1.2 percent to 1,995 ringgit ($480.43) a tonne by the close of trade, after earlier dropping as much as 1.5 percent to 1,990 ringgit.
Trading volumes stood at 27,937 lots of 25 tonnes each.
"Palm is down on worries over the end-November stocks outlook and the confirmation of a temporary abolishment in Indonesia's export levy," said a Kuala Lumpur based trader, explaining that while this would make Indonesian palm more competitive, it could dampen demand for Malaysian products.
A Reuters poll also showed that Malaysia's palm oil stocks at end-November are likely to touch the 3-million-tonne mark, their highest in recent years, as a drop in exports outpaced lean production.
Production is seen down 2.1 percent at 1.91 million tonnes, while exports are forecast to fall 10.6 percent to 1.41 million tonnes.
In other related oils, the Chicago December soybean oil contract was trading flat at 1040 GMT, while the January soybean oil contract on the Dalian Commodity Exchange fell 0.3 percent.
Meanwhile, the Dalian January palm oil contract edged up 0.1 percent.
Palm oil is impacted by movements of other edible oils, as they compete for a share in the global vegetable oil market. - Reuters

Read more at https://www.thestar.com.my/business/business-news/2018/12/06/palm-oil-price-drops-on-high-stock-outlook-indonesian-levy-change/#EsjVu57HG0fJkIFI.99

 

Source: The Malaysian Reserve page 10