JAKARTA/KUALA LUMPUR, May 22 (Reuters): Indonesia's resumption of palm oil exports will not blunt Malaysia's competitiveness in exporting the edible oil, the Malaysian commodities minister said on Sunday, pointing to the rival's loss of sales in India. Minister Zuraida Kamaruddin urged "all Malaysian oil palm growers - both plantation firms and smallholders alike - not to be … [Read more...] about Malaysia sees sustained competitiveness even as Indonesia resumes palm oil exports
Orangutans palm oil
Palm oil’s slump set to deepen after Indonesia lifts export ban
JAKARTA, May 21 (Bloomberg): Palm oil has lost a major pillar of support after top producer Indonesia lifted a ban on exports, paving the way for prices to slump further as supply builds and demand languishes. Futures were already lower this week on expectations Indonesia’s ban would be short-lived, and late Thursday President Joko Widodo said that exports can resume from May … [Read more...] about Palm oil’s slump set to deepen after Indonesia lifts export ban
Higher palm oil price boost for Sime Darby
PETALING JAYA: Higher crude palm oil (CPO) and palm kernel (PK) prices helped lift Sime Darby Plantation Bhd ’s (SDP) net profit in the first quarter ended March 31, 2022 (1Q22), to RM718mil, a 27.76% increase over RM562mil in 1Q21. The plantations group said revenue rose 19% year-on-year (y-o-y) to RM4.38bil as the higher prices offset the negative impact resulting from … [Read more...] about Higher palm oil price boost for Sime Darby
Datuk remanded for six days over probe into crude palm oil sales tax evasion case
KOTA KINABALU: A former civil servant with a Datuk title has been remanded for six days to allow investigators to question the suspect for alleged involvement in the evasion of millions of ringgit in Sabah's crude palm oil sales tax. Magistrate Jessica Ombou Kakayun issued the remand order for the 66-year-old suspect who appeared in court here on Saturday (May 21). Jessica … [Read more...] about Datuk remanded for six days over probe into crude palm oil sales tax evasion case
Sime Darby Plantation’s 1Q net profit lifted to RM718mil on higher CPO, PK prices
KUALA LUMPUR: Higher crude palm oil (CPO) and palm kernel (PK) prices helped lift Sime Darby Plantation Bhd 's net profit in the first quarter ended March 31, 2022, to RM718mil, a 27.76% increase over RM562mil in 1Q21. The plantations group said revenue rose 19% year-on-year (y-o-y) to RM4.38bil as the higher prices offset the negative impact resulting from a prolonged … [Read more...] about Sime Darby Plantation’s 1Q net profit lifted to RM718mil on higher CPO, PK prices