Indonesia is the world's biggest producer of the edible oil used in making foods such as cakes, chocolate, and margarine as well as cosmetics, soap and shampoo, accounting for more than half of the global supply.
The Malaysian government said on January 14 that it will encourage sustainability while maintaining the competitiveness of its palm oil industry ahead of the implementation of the EU’s anti-deforestation law at the end of this year.
Thailand's Ministry of Energy announced on November 8 that it will reduce the palm oil content in its biofuel from 7% to 5% to deal with rising palm oil prices.
Indonesia’s Ministry of Agriculture has set a target of making the country the world’s largest palm oil producer by 2025, enabling it to influence global prices of the commodity.
Thailand's Department of Internal Trade has temporarily banned the export of raw palm oil due to reduced production caused by drought and plant diseases.
Malaysia’s Ministry of Plantation and Commodities on October 22 proposed investing in new technologies and infrastructure to more efficiently convert waste from palm oil production into biomass energy.
Malaysia's palm oil stocks fell to their lowest in six months at the end of January as production plunged to the lowest level in nine months amid steady exports, the industry regulator has said.
Indonesian authorities said on December 22 that they will fine palm oil companies operating within forest areas with a total sum of 4.8 trillion IDR (310.1 million USD).
Indonesia's flag carrier Garuda Indonesia said on October 10 that it has completed a test flight using a palm oil-blended jet fuel on a Boeing 737-800NG aircraft.
PGN, a Pertamina subsidiary, and three Japanese companies are looking to produce biomethane from palm oil mill effluent (POME) to meet rising natural gas demand and reduce methane emissions, reported the Jakarta Post.
Indonesia and Malaysia have agreed to protect their palm oil sector and counter discrimination and unilateral policies affecting the commodity and harming the two countries' interests, Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto said on February 9.
Indonesia and Malaysia have said that they could stop exporting palm oil to the European Union in response to a new EU law aimed at protecting forests by strictly regulating the sale of palm oil products.
Although the Government of Malaysia has opened the border since April 1 and encouraged the recruitment of foreign workers, the continued labour shortage is seriously affecting the country’s palm oil industry.
The 22nd Vietnam International Agricultural Trade Fair (AgroViet 2022) will open next week in Hanoi, featuring 100 exhibitors, including those from Australia, Russia, Japan, China, Thailand and Indonesia.
Malaysia’s palm oil potential remains intact despite softening crude palm oil (CPO) prices, and its prospects will remain bright in the second half of this year, according to Minister of Plantation Industries and Commodities Datuk Zuraida Kamaruddin.
Indonesia will lift its palm oil export ban from May 23, following improvements in the domestic cooking oil supply situation, the country's President Joko Widodo has announced.
There is a really great potential for Vietnam and Malaysia to promote economic cooperation in the post-COVID-19 period, especially in trade and investment, according to an official from the Malaysian Ministry of International Trade & Industry (MITI).
