Sabah & Sarawak

India cuts tax on palm oil imports; Malaysia to gain most

India has cut import taxes on crude and refined palm oil from Southeast Asian (Asean) countries after a request from suppliers, a government notification said. The reduction will lead to higher imports of palm oil by the world’s biggest edible oil buyer in coming months as it would narrow the difference between the tropical vegetable oil and competitors such as soyoil and sunflower oil.

Palm oil may regain market share as India reduces import duties

There is a good chance that palm oil may regain some market share it lost previously in India after the government announced a reduction in import duties on crude palm oil and refined palm oil, effective Jan 1, 2019.

Analysts more positive on planters in 1QCY19

Analysts are turning more positive on the plantation sector for the first quarter of current year 2019 (1QCY19) after going through a rough ride in 4QCY18. According to the research arm of Kenanga Investment Bank Bhd (Kenanga Research), this is because signs are pointing towards a sharp recovery in crude palm oil (CPO) prices.

Quarter of oil palm plantations are mspo-certified as of November

Some 23 per cent or 1.34 million hectares out of 5.8 million hectares of oil palm plantations in the country have been certified under Malaysian Sustainable Palm Oil (MSPO) as of November 2018. In addition, a total of 119 refineries or 26 per cent of the total 454 refineries have obtained the MSPO certification.