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IN view of the lacklustre market and oversupply situation, the real estate sector has urged the government to remove and reduce the real property gains tax (RPGT) after the fifth year of purchase for non-citizens and companies to 5%, instead of the current 10% and zero tax for Malaysians and PRs.
KUALA LUMPUR: Palm oil inventories in Malaysia extended falls to a 13-month low at the end of August as strong export gains outpaced production increases, according to official data. Declining stockpiles in the world’s second-largest producer of the edible oil could boost benchmark prices which have retreated from a six-month top reached in end-August. Prices were last up 0.6% at RM2,214 a tonne at the midday break yesterday.
KUALA LUMPUR: Palm oil inventories in Malaysia extended falls to a 13-month low at the end of August as strong export gains outpaced production increases, official data showed on Tuesday.
PETALING JAYA: Crude palm oil (CPO) is expected to trade between RM1,900 and RM2,200 per tonne this month as rising optimism on lower stockpile will likely be offset by weaker demand from India following the major edible oil importer’s move to raise the import duty on palm oil by 5%, according to analysts.
KUALA LUMPUR: Rubber gloves manufacturer, Supermax Corporation Bhd, is expecting its exports to increase by 10 per cent, boosted by sales of medical gloves due to the ongoing US-China trade war.
KUALA LUMPUR: UOB Kay Hian Malaysia Research remains positive on the recovery in crude palm oil (CPO) prices on the back of lower production growth with older-age tree profiles, slower replanting in Malaysia and a lack of fertiliser application.
KUALA LUMPUR: Malaysian palm oil futures closed slightly lower on Thursday, having hit their weakest level in two weeks after top edible oil importer India raised the tax on refined palm oil from Malaysia to 50% from 45% for six months.
MUMBAI: India has initiated a probe into whether a jump in refined palm oil shipments from Malaysia is causing serious injury to domestic industry, the trade ministry’s investigative arm said in a statement.
MUMBAI: Gold imports by India in July tumbled to the lowest monthly inflow in more than three years as demand paused following record high prices in the domestic market.