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Official Websites of
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MINISTRY OF
PLANTATION AND COMMODITIES -
No. 15, Level 5-13, Persiaran Perdana, Presint 2, 62654 Wilayah Persekutuan Putrajaya
ARKIB BERITA
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KUALA LUMPUR: Malaysia's palm oil board on Monday warned of a tough 2023 for the market for the world's most consumed edible oil, with the persistence of global uncertainties in weather, geopolitics and economics that have caused wide price swings this year.
The edible oils market has grappled with volatility triggered by recession fears, Russia's invasion of Ukraine and governments' curbing exports to protect domestic food supplies.
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IT has been 105 years since the first commercial planting of oil palms in Tennamaram Estate in Batang Berjuntai, Selangor.
This first commercial estate planted with oil palm seeds sourced from Rantau Panjang, Selangor in 1917, built the foundations of Malaysia's palm oil industry.
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KUALA LUMPUR (April 6): Malaysia's palm oil inventory likely grew by 2.8% month-on-month (m-o-m) to 1.56 million tonnes at end-March 2022 due to higher output, according to CGS-CIMB.
"The likely m-o-m rise in stock level is divergent compared to historical trends in Malaysia's March palm oil stock movements (average: -1% m-o-m over the past 10 years).
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MALAYSIA’S palm oil and palm-oil based products exports grew by 55.2% during the period between January and June in 2022 (6M22) to RM67.48 billion from RM43.47 billion in 6M21.
According to Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin, palm oil has contributed to 66.1% of the total export earnings which amounted to RM44.63 billion this year compared to RM28.8 billion in the same period last year.
