The fall in stocks in Malaysia, the world's second-largest palm oil producer after Indonesia, would support benchmark futures <FCPOc3>, which are trading near their lowest level in seven months.
The WTO ruling has been three years in the making after Malaysia, the world's second-largest producer of palm oil after Indonesia, initiated the case in 2021
Consumers’ right body DG says at ERF event
Indonesian President Joko Widodo on Thursday called for better collaboration with neighbouring Malaysia to fight what he called "discrimination" against their countries' palm oil products, as a new European Union law threatens to dent exports of the commodity.
The government today extended the reduced 5 per cent value-added tax on edible oil for another three months to continue the relief for consumers from the indirect tax burden.
Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, where demand is picking up for next month's Diwali festival, industry officials said.
Even though prices of loose palm and soybean oil have dropped in wholesale markets, consumers are not being able to reap the benefits as retailers are still selling those at the government-fixed prices.
There is a huge hue and cry about the recent unprecedented price hike of soybean oil.
Police in a raid seized 92,616 litres of edible oil illegally stored at four warehouses and a truck at Baneshwar Bazar of Rajshahi's Puthia upazila today (May 10, 2022).
The fall in stocks in Malaysia, the world's second-largest palm oil producer after Indonesia, would support benchmark futures <FCPOc3>, which are trading near their lowest level in seven months.
The WTO ruling has been three years in the making after Malaysia, the world's second-largest producer of palm oil after Indonesia, initiated the case in 2021
Consumers’ right body DG says at ERF event
Indonesian President Joko Widodo on Thursday called for better collaboration with neighbouring Malaysia to fight what he called "discrimination" against their countries' palm oil products, as a new European Union law threatens to dent exports of the commodity.
The government today extended the reduced 5 per cent value-added tax on edible oil for another three months to continue the relief for consumers from the indirect tax burden.
Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, where demand is picking up for next month's Diwali festival, industry officials said.
Even though prices of loose palm and soybean oil have dropped in wholesale markets, consumers are not being able to reap the benefits as retailers are still selling those at the government-fixed prices.
There is a huge hue and cry about the recent unprecedented price hike of soybean oil.
Police in a raid seized 92,616 litres of edible oil illegally stored at four warehouses and a truck at Baneshwar Bazar of Rajshahi's Puthia upazila today (May 10, 2022).
The Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association today said it will take action against the dealers if their involvement is found in creating an edible oil crisis.
