oil palm

 
 

Sime Darby Plantation considers exiting West Africa operations

KUALA LUMPUR: Sime Darby Plantation, the world’s biggest oil palm planter by land holdings, is considering exiting its palm and rubber operations in the West African nation of Liberia, industry sources said. The potential move comes as the Malaysian company’s return on investment in Liberia has been lower than expected due to disappointing planting activity […]


Palm oil industry to remain strong in 2019, says Sime Darby

KUALA LUMPUR, Feb 21 — The fundamentals of the palm oil industry will continue to be strong in 2019 as structural issues such as inventories, pricing and government policies, particularly the biodiesel mandate, are resolved, says Sime Darby…


Palm oil prices to remain steady in 2019: MPOC

KUALA LUMPUR: Malaysian palm oil prices are set to hold steady in 2019 at an average of RM2,303 a tonne, according to estimates by the Malaysian Palm Oil Council (MPOC), while global output of the tropical oil is expected to rise by 3 million tonnes.

“Global palm oil production is projected to be 72 million tonnes, with Malaysia and Indonesia as leading producers,“ the MPOC said in an online conference presentation today.

Rising production could cap recent price gains for palm oil, which has been recovering after touching a 3-year low last November at RM1,940 a tonne.

Benchmark palm oil was trading at RM2,281 a tonne today. The tropical oil averaged RM2,308 last year, according to Refinitiv Eikon data.

MPOC, Malaysia’s key marketing agency for palm oil, also estimated that Malaysian output would rise to 20.2 million tonnes in 2019 and pegged Indonesian production at 42.8 million tonnes.

Malaysia produced 19.5 million tonnes of palm oil last year, while Indonesia’s 2018 output stood at 42 million tonnes, based on estimates by the Indonesia Palm Oil Association.

Malaysian palm oil output is expected to rise as newly replanted areas start to mature, but the increase will be marginal due to ageing trees and a possible El Nino in 2019 that will curb production, the MPOC said in its presentation.

“Indonesian production is forecast to reach a record high of 42.8 million tonnes in 2019 due to improving weather conditions as well as newly maturing areas,“ it added.

Palm oil exports in 2019 are also expected to increase in 2019, in line with an expected rise in demand from key importer India due to its declining domestic oilseed production.

“India is expected to increase its (vegetable oil) imports by 500,000 tonnes, reaching 15.15 million tonnes, out of which palm oil will account about 10 million tonnes,“ said the MPOC presentation.

Industry regulator the Malaysian Palm Oil Board forecast Malaysia’s a slight rise in production to 20.3 million tonnes this year due to favourable weather conditions and an expansion in oil palm matured area, according to an online presentation.

It estimated Malaysia’s 2019 exports at 17.2 million tonnes, up from 16.5 million tonnes last year, due to “expected stronger palm oil demand from major markets.”


Expert: More investments to flow in from Saudi Arabia following crown prince’s visit

KUALA LUMPUR, 15 Feb — Discussions on refineries and petrochemical related investments in Malaysia is likely to dominate discussions during Saudi Arabia Crown Prince Mohammed bin Salman’s maiden visit to Malaysia beginning Sunday. MIDF Amanah…


Bintulu Port Holdings’ AA1 rating reaffirmed

KUCHING: RAM Ratings has reaffirmed the AA1/Stable/P1 corporate credit ratings of Bintulu Port Holdings Bhd (BPHB), premised on the port operator’s healthy financial performance, along with continued strong support that the group enjoys from both the federal and state governments. BPHB operates Malaysia’s only export terminal for liquefied natural gas (LNG) and plays a pivotal […]


Busy days ahead for new FGV CEO, say analysts

KUALA LUMPUR, Jan 30 — Analysts reckoned that the newly appointed FGV Holdings Bhd’s chief executive officer Datuk Haris Fadzilah Hassan will be very busy as he indulges in the housekeeping effort of the plantation giant, in an effort to set its…


Sime Darby Plantation, Salcra ink MoU to uplift Sarawak’s palm oil industry

PETALING JAYA: Sime Darby Plantation Bhd (SDP) and Sarawak Land Consolidation and Rehabilitation Authority (Salcra) have signed a memorandum of understanding (MoU) to form a collaborative framework to establish, strengthen and encourage synergistic commercial cooperation along the palm oil value chain.

The collaboration aims to uplift Sarawak’s palm oil industry standards in terms of operational efficiency and productivity through best agronomic practices, SDP said in a statement yesterday.

It is also intended to inculcate and enhance sustainability awareness for higher operational performance and bottom-line achievement.

Under the MOU, both parties intend to combine their resources and expertise to jointly collaborate, evaluate and research on matters relating to the palm value chain and related agronomic inputs.

These include in the areas of agricultural materials such as oil palm seedlings and saplings, management, consultancy services and training, consultancy services, as well as laboratory analytical services.

The MoU also includes any other activities that are mutually beneficial to the parties such as logistics and activities connected to rubber plantation and other agricultural businesses.


Sime Darby Plantation, Salcra to uplift Sarawak palm oil industry

PETALING JAYA: Sime Darby Plantation Bhd (SDP) and Sarawak Land Consolidation and Rehabilitation Authority (Salcra) have signed a memorandum of understanding (MoU) to form a collaborative framework to establish, strengthen and encourage synergistic commercial cooperation along the palm oil value chain.

The collaboration aims to uplift Sarawak’s palm oil industry standards in terms of operational efficiency and productivity through best agronomic practices, SDP said in a statement today.

It is also intended to inculcate and enhance sustainability awareness for higher operational performance and bottom-line achievement.

Under the MoU, both parties intend to combine their resources and expertise to jointly collaborate, evaluate and research on matters relating to the palm value chain and related agronomic inputs.

These include in the areas of agricultural materials such as oil palm seedlings and saplings, management, consultancy services and training, consultancy services, as well as laboratory analytical services.

The MoU also includes any other activities that are mutually beneficial to the parties such as logistics and activities connected to rubber plantation and other agricultural businesses.


Kok: Sixth CPOPC ministerial meeting to be held next month

PUTRAJAYA: The sixth ministerial meeting of the Council of Palm Oil Producing Countries (CPOPC) next month will discuss among others, trade policy issues affecting members, sustainable production of the crop and activities towards strengthening cooperation in the industry, said Minister of Primary Industries Teresa Kok Suh Sim. To be held on February 28 in Jakarta, […]


Analysts neutral on Sime Plantation’s near-term outlook

KUCHING: Analysts have maintained their ‘neutral’ view on Sime Darby Plantation Bhd’s (Sime Plantation) near-term outlook. In a report, the research arm of Kenanga Investment Bank Bhd (Kenanga Research) noted that Sime Plantation’s management has guided for low-to-mid single-digit fresh fruit bunches (FFB) growth outlook across its Malaysia, Indonesia and Papua New Guinea (PNG) and […]