NEWS FEED
  • 24 July, 2017
    Land for the landless: Felda transforms the lives of many
    FROM its humble beginnings in Lurah Bilut, in Bentong, Pahang, the Federal Land Development Authority (Felda) has transformed from an agency in charge of smallholders and settlements into a giant conglomerate with diversified business interests. Felda, a government land development agency, was the brainchild of second prime minister the late Tun Abdul Razak Hussein. It was established in July 1956, when land development and resettlement were seen as keys to economic growth and political stability.
  • 24 July, 2017
    Palm oil demand up as dry U.S. weather seen hurting rival soy crops
    Palm oil demand is seen rising on a widening price differential with its rival oilseed soy, spurred by dry weather in the United States, prompting buyers to switch to the cheaper tropical oil, as key purchasing market China replenishes its palm oil port stocks, which have slid to seven-month lows. Benchmark palm oil prices are expected to decline in the second half of the year as production sees seasonal gains. Palm has shed about 17 percent of its value so far this year, and was last down 0.4 percent at 2,566 ringgit ($598.83) per tonne on Friday afternoon. [POI/]
  • 21 July, 2017
    Malaysian palm oil price jumps 2% on improving export demand
    The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 2 percent at 2,576 ringgit ($600.47) on Thursday evening, its strongest daily gain in nearly four months. The market earlier hit an intraday high of 2,578 ringgit, its highest level since July 12.
  • 21 July, 2017
    UPM professor invents new e-cutter for Felda oil palm smallholders
    HULU SELANGOR: The immense labour force needed by oil palm smallholders is poised to be slashed significantly with the invention of Universiti Putra Malaysia’s electric cutter.
  • 21 July, 2017
    M'sia targets 50% rise in palm product exports to Philippines by 2020
    KUALA LUMPUR: Malaysia is targetting the export of palm oil and palm-based products to the Philippines to increase by 50% to RM3bil by 2020, from RM1.99bil recorded in 2015.
  • 20 July, 2017
    Malaysia targets Philippines to import more palm oil, rubber
    The Philippines is expected to buy more palm oil from Malaysia as exporters ramp up promotional activities with the Philippines International Trade Corp. Malaysian Palm Oil Board (MPOB) data revealed, in 2016, exporters shipped 625,007 tonnes to the Philippines. Authoritative journal Oil World estimated the Philippines bought around 950,000 tonnes of palm oil in 2016, of which two third were shipped over from Malaysia.
  • 20 July, 2017
    Malaysian palm oil/Vegoils: Market factors to watch Thursday July 20
    Malaysian palm oil futures rebounded on Thursday evening, lifted from an earlier two-week low by expectations of stronger cargo surveyor data. The market had fallen on an expected increase in production, with Malaysia's palm oil output on track to rebound this year from an El Nino-affected 2016, though a Reuters poll of traders, planters and analysts suggested it will miss previous forecasts on a par with 2015's record high.
  • 20 July, 2017
    Malaysian palm oil price rebounds from losses on export expectations
    Malaysian palm oil futures rebounded on Thursday evening, lifted from an earlier two-week low by expectations of stronger cargo surveyor data. The market had fallen on an expected increase in production, with Malaysia's palm oil output on track to rebound this year from an El Nino-affected 2016, though a Reuters poll of traders, planters and analysts suggested it will miss previous forecasts on a par with 2015's record high. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange rose 0.5 percent to 2,525 ringgit ($589.33) at the midday break. It earlier dipped to 2,494 ringgit, its lowest since July 4.
  • 19 July, 2017
    Malaysian palm oil price eases to two-week low on higher production outlook
    Malaysian palm oil futures fell to a two-week low in late trade on Tuesday, dropping nearly 1 percent as the market was weighed down by expectations of rising production. Palm oil prices were on an uptrend at the start of the month, tracking gains in rival oilseed soy, but then began to weaken last week as production recovered. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.95 percent at 2,513 ringgit ($586.60) at the close of trade, its second consecutive day of declines.
  • 19 July, 2017
    Labour shortage costs FGV RM2m a day
    Felda Global Ventures Holdings Bhd (FGV) is losing roughly RM2 million a day in potential revenue due to the current foreign labour shortage, says acting chairman Tan Sri Dr Sulaiman Mahbob. The labour shortage means the plantation giant cannot fully harvest its fresh fruit bunches. “Roughly, our estimate shows that about RM2 million a day is lost due to shortage of labour,” Sulaiman said yesterday in his first press conference since being appointed to the role on June 19. He took over the role from Tan Sri Mohd Isa Abdul Samad.