JAKARTA: Indonesia’s moratorium on new oil palm plantation permits is set to expire this week as the industry awaits clarity on whether the government will extend the policy.
President Joko Widodo ordered a stop to permit issuance for new plantations and expansion of existing ones for three years in a decree signed Sept. 19, 2018. That order expanded on an earlier ban on permits for plantations on primary forest and peat land.
As palm prices surge almost 50% in the past year due to tight supply, the government has given few signs on whether the moratorium would remain. The breakneck expansion of plantations through Southeast Asia has come at the expense of vast swathes of tropical rainforest.
An extension could lead prices to climb higher as thereRead More »
KUALA LUMPUR (Bernama) -- The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has welcomed the government's decision to grant special approval to bring in 32,000 foreign workers to ease the labour shortage in the plantation sector.
Minister of Human Resources Datuk Seri Saravanan Murugan has said that his ministry is drawing up standard operating procedures (SOPs), including identifying a 2,000-person capacity COVID-19 isolation centre near Kuala Lumpur International Airport (KLIA), to facilitate the bringing in of the foreign workers.
ACCCIM said in a statement today that the measure will provide relief to the plantation sector, including the palm oil industry, which had suffered financial and revenue losses as the shortages of woRead More »
Tuesday, 1 August 2017 KUALA LUMPUR: Malaysian palm oil futures hit a near four-month high in early trade on Monday, tracking overnight gains in soyoil on the Chicago Board of Trade and on forecasts of lower-than-expected output increases and end-stocks. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was …Read More »
Wednesday, 5 July 2017 KUALA LUMPUR: Malaysian palm oil futures reversed early losses to make gains in the second half of trade, supported by forecasts of declining production which could dent local stock levels, traders said. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was up 0.2% at …Read More »
Saturday, 1 July 2017 KUALA LUMPUR: Malaysian palm oil futures fell from a near two-week high on Friday, reversing gains made earlier, as they were weighed down by weaker exports and expectations of rising production. Palm was up earlier, tracking overnight soyoil on the Chicago Board of Trade (CBOT) and supported by a …Read More »
Thursday, 25 May 2017 KUALA LUMPUR: Palm oil demand from China, the world’s No.2 importer of the commodity, is set to drop in coming months as supplies of alternative edible oils flood local markets, industry sources said. Sluggish Chinese appetite for palm oil, used in everything from preparing food to …Read More »
Tuesday, 20 December 2016 KUALA LUMPUR: Malaysian palm oil futures fell for a second straight session on Monday after earlier touching a four-and-a-half-year high hit in the previous session, as the market weakened on expectations that data due out on Tuesday will show a fall in export demand. Benchmark palm oil futures for March …Read More »