oil palm

 
 

Dr M's visit to China could ramp up palm oil exports

KUALA LUMPUR, July 16 — Prime Minister Tun Dr Mahathir Mohamad's visit to China in August could be a timely opportunity to ramp up palm oil exports to the world's second largest economy. The prospect of higher palm oil exports looks bright as…


Sarawak plays host to sustainable palm oil conference

KUCHING: Sarawak is hosting the Consortium Studies on Smallholder Palm Oil (CSSPO) 2018 conference which is an annual open forum for academics and stakeholders in the palm oil and agriculture industry to disseminate relevant researches and share and discuss alternative strategies in harmonising environmental, social and economic dimensions. The three day conference which started yesterday […]


Ta Ann’s Kapit FMU attains Forest Management Certificate

KUALA LUMPUR: Ta Ann Holdings Bhd’s Kapit Forest Management Unit (FMU) has been awarded the Certificate for Forest Management (Natural Forest) under the Malaysian Timber Certification Scheme. The Kapit FMU is managed by Tanjong Manis Holdings Sdn Bhd, a wholly-owned unit of Ta Ann. In a filing to Bursa Malaysia yesterday, Ta Ann said the certificate […]


Rising US edible oil imports could benefit Malaysian palm oil

NEW YORK, July 4 — Malaysia’s palm oil exports stand to benefit from rising imports of edible oils by the United States (US), including palm oil, thanks to the country’s continued economic growth trajectory in the current year. This trend was…


Govt to ensure strong policy framework for oil palm sector

KAJANG: The government will lay down a strong policy framework to further develop the oil palm industry and provide assistance, as well as a supporting environment, to ensure sustainable development alongside the industry’s competitiveness. Newly-appointed Primary Industries Minister Teresa Kok said the oil palm industry continued to face challenges, especially in the form of anti-palm […]


Govt to lay down strong policy framework for oil palm industry

KAJANG: The government will lay down a strong policy framework to further develop the oil palm industry and provide assistance, as well as a supporting environment, to ensure sustainable development alongside the industry’s competitiveness.

Newly appointed Primary Industries Minister Teresa Kok said the oil palm industry continued to face challenges, especially in the form of anti-palm oil campaigns, despite its impressive contribution to the country’s development.

“Consumers around the world need to know that criticism on the health aspects of palm oil is unfair and not substantiated with scientific facts,” she said in her opening speech at the 24th Malaysian Palm Oil Board (MPOB) Transfer of Technology Seminar and Exhibition today.

Kok’s speech was read by Deputy Minister of Primary Industries, Shamsul Iskandar Md Akin.

She pointed out that the world needed to know that Malaysia had always advocated sustainable development and management of the oil palm industry and conservation of forests and biodiversity.

“The anti-palm oil campaign strategy has now changed and the detractors of palm oil claim that it is harmful to the environment. We need to provide scientific facts and data to counter these negative allegations and reports regarding the oil palm industry, especially in terms of deforestation and land use change,” she added.

Kok noted that Malaysia’s oil palm industry was highly regulated and it was in the government’s interest to ensure the environment, rainforest and wildlife were protected and conserved.

Malaysia’s initiative to implement the Malaysian Sustainable Palm Oil (MSPO) and make the certification compliance mandatory by Dec 31, 2019, would raise the bar for the local palm oil industry not only in sustainability but also in quality standard, she said.

“I am, therefore, confident that through the concerted promotion of the MSPO, Malaysian palm oil will find a niche in the international oils and fats market. In this regard, I am pleased to announce that the MSPO certification scheme has been adopted as a tool for the Tokyo 2020 Olympics and Paralympic Games Sustainable Sourcing Code for Palm Oil.

“It will be the dawn of a new era in the branding of Malaysian palm oil as it stands tall against all odds and adversities,” she added.

Kok pointed out that the Malaysian oil palm industry must keep itself relevant for many years to come.

New technologies must therefore be incorporated into the entire value chain to make the industry more efficient and productive, generating growth and value addition.

Between 1995 and 2017, the MPOB made available 648 technologies and 174 services applicable to the oil palm industry.

To date, 198 MPOB technologies have been commercialised – a 30% of commercialisation rate compared with the national average of 3% to 5%. – Bernama


Golden Palm hires consultant for estate sale

KUALA LUMPUR: Golden Palm Growers Bhd has appointed financial consultant, Grant Thornton Consulting Sdn Bhd (GTC), to conduct a tender exercise for its estate in Gua Musang, Kelantan, eight months into the year it has to divest the estate.

GTC will be conducting a public tender exercise for a period of six weeks, with a further two weeks to evaluate the tender bids, commencing June 30.

“Due to the confidential and price sensitive nature of such a public tender exercise, the management company will not, during this period, be issuing any statements until the close of the public tender and its bids evaluated,” the company’s management said in a statement.

On Oct 2 last year, 98% of investors of the second oil palm grower scheme to be wound up in four years, voted to give the management a 12-month grace period to find a suitable buyer to get an “optimal realisation” for the plantation. The other option was an immediate sale of the plantation, which could result in a lower sale price.

According to one investor contacted by SunBiz in March this year, a letter from the management company in January 2018 said the plantation has been actively promoted to both local and overseas parties and a local estate agency was appointed to promote the sale of the plantation.

The scheme’s management company, tagged the valuation of its 11,000-acre plantation in Gua Musang at RM232.8 million, an increase of RM10.8 million from the valuation that was obtained in June 2017.

Golden Palm Growers executive chairman Datuk CRS Paragash previously said the company will not be taking anything from the final net sale proceeds until it has returned 100% of capital to investors, as well as the payment of the 2017 net yield. The management holds a 40% interest in the scheme.

The company also said that its action committee will be authorised to approve all proposals for the plantation that allow investors to get back 100% of their initial investment, while proposals that will return less than 100% will be open to investors’ review and vote.


Extended Eid break disrupts Malaysian, Indonesian palm oil harvest, mills

KUALA LUMPUR, June 28 — Palm oil output in the world's two-biggest producers may decline amid disruptions in the fruit harvesting process because of a backlog of farmers trying to sell fruit to Indonesian mills and as Malaysian planters struggle…


Palm oil ban likely to displace, not halt, biodiversity losses, says study

PARIS, June 26 —  A ban on palm oil due to fears it may cause deforestation could displace rather than halt global biodiversity losses as it would likely increase output of other oil crops to meet rising vegetable oil demand, an international…


Malaysia palm output seen at record as growers weigh wage hike

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KUALA LUMPUR (June 14): Palm oil production in Malaysia is set to climb to a record this year as rain boosts yields, according to a growers’ group in the world’s second-largest producer. Output may rise to between 20.5 million and 21 million metric tons from 19.9 million tons last year, said Nageeb Wahab, chief executive of the Malaysian Palm Oil Association. The group, which includes Sime Darby Plantation Bhd, IOI Corp and Kuala Lumpur Kepong Bhd, represents about 40% of the 5.8 million hectares (14 million acres) of oil palmRead More