tags: oil palm seeds
Indonesia and Malaysia will send a joint exploratory mission to Angola next year to identify more productive strains of oil palm, the fruits of which are used to make crude palm oil, or CPO, a senior Agriculture Ministry official said.
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tags: palm oil buyer
India has surpassed China as the world’s biggest buyer of palm oil as rising incomes increased demand for fried and processed foods and drought reduced domestic production of cooking oil, according to a processor group.
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tags: oil palm biofuel
Indonesia fell woefully short of its biofuels target in 2009 as producers halted operations because of the surging price of crude palm oil, the main raw material. Total biofuel production was just 104,100 kiloliters in 2009, a 96 percent fall from the 2.56 million kiloliters produced in the previous year, the Energy Ministry said.
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tags: oil palm plantation
Plantation sector investment is forecast to grow by 11 percent per year over the next five years while the amount of land used for palm oil plantations will jump by almost 20 percent, according to an Agriculture Ministry forecast released last week. In 2010, total plantation investment, including palm oil, rubber, cocoa, coffee and sugar cane plantations, is expected to be Rp 45.18 trillion ($4.79 billion), up 4.3 percent on 2009. By 2014 it’s expected to reach Rp 68.5 trillion, according to the ministry.
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tags: Indian Palm Oil
Palm oil prices jumped 2.6 percent to their highest level in more than seven months on anticipation demand will increase in India, the world’s no. 2 palm oil consumer. Palm oil prices, which have more than doubled in the last decade, have rallied 57 percent this year, the biggest annual advance in 12 years, on rising demand from India and China, the biggest consumer.
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tags: Crude Palm Oil Tax
Indonesia, the world’s biggest producer of crude palm oil, will impose a 3 percent tax on exports of the commodity starting in January to ensure domestic supplies. The increase, the first in six months, lifts the tax rate from zero and was based on the average price in Rotterdam exceeding $769.17 a metric ton over a four-week period, Diah Maulida, director general for foreign trade at the Trade Ministry, said on Tuesday.
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tags: Crude Palm Oil Futures
Crude palm oil (CPO) futures have hit an all time high of M$3,000 ($898) a tonne on the benchmark Malaysia Derivatives Exchange, as crude oil prices reached a record $98 a barrel, but the industry needs to take stock and gauge how soaring prices will affect demand, according to a leading analyst.
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tags: indonesian palm oil producers
Unilever’s boycott of Sinar Mas last week, following the release of a report by Greenpeace accusing the palm oil giant of illegal practices, is putting the Roundtable on Sustainable Palm Oil in the spotlight......
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tags: bakrie, sumatera, plantations
Big Palm oil producer; PT Bakrie Sumatera Plantations, revealed plans to raise Rp four.ninety-seven trillion ($526.8 million) - almost twice it is actual market capitalization - in a corrects offer to fund its expansion programs. The news sent its stock cost plummeting by as much as nineteen percent.....
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tags: unilever boycotts sinar mas
Unilever, the world’s biggest user of palm oil, on Friday announced it was suspending purchases from Sinar Mas Group until the company proved its plantations weren’t contributing to deforestation in Asia. The development came on the same day the Forestry Ministry dismissed evidence released ....
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tags: carbon tax plan
It’s a weird move to put a carbon tax on the Indonesian palm oil industry because the ones who should reduce emissions are the developed countries,” Joko Supriyono, general secretary of Indonesian Palm Oil Association. Palm oil producers on Wednesday questioned comments from Indonesia’s ....
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tags: riau investors
The value of transactions on the Indonesia Stock Exchange by local investors in Riau province is expected to nearly double this year, from Rp 2.2 trillion last year to Rp 4.1 trillion this year, the head of the market’s local investor center said in Pekanbaru on Friday.....
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tags: illegal land clearing
Greenpeace on Thursday released new evidence of illegal land clearing in West Kalimantan conducted by the Sinar Mas business group, the second largest palm oil plantation company in the world. A report by the international green group into the matter revealed that Sinar Mas companies ....
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tags: palm oil prices
Palm oil, little changed, may extend a four-week rally on speculation demand will remain robust in India and China, the biggest consumers of the edible oils. Production has peaked this year and we’re entering the seasonal low-production period. The bigger concern is the coming El Nino....
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tags: CPO Biodiesel
The government is planning to develop regional centers for processing palm oil into biodiesel and other products to boost profit margins and create jobs, a minister said on Wednesday. The government is seeking investment to produce oleochemicals — used to make household products like soaps....
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tags: palm oil exports
The country’s total palm oil exports dropped to 1.348 million metric tons in October from 1.358 million tons in September, the Indonesian Palm Oil Association said. For the first 10 months of the year, the country’s exports jumped 16 percent to 12.76 million tons compared with the same period last year.....
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tags: CPO production
PT Astra Agro Lestari, the country’s largest producer of crude palm oil, is projecting its CPO production to reach 1.05 million tons this year, up 7 percent from last year’s output of 980,000 tons. The announcement was made by Tonny Hermawan, a director at Astra Agro in Bandung, West Java, late on Friday .....
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tags: cooking oil prices
The Business Competition Supervisory Commission announced last week that it would investigate 21 cooking oil producers after some of them ignored summons from the antimonopoly body to answer cartel allegations. But oil makers have maintained that there is no price-fixing in the industry. .....
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Seeking Oil Palm Strains in Angola
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