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Official Websites of
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MINISTRY OF
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No. 15, Level 5-13, Persiaran Perdana, Presint 2, 62654 Wilayah Persekutuan Putrajaya
BERITA AGRIKOMODITI 2024
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Consumers are increasingly interested in healthier snacking choices, with Non-Palm Oil (NPO) products gaining traction in recent discussions. This trend is influencing consumer behavior and shaping market trends.
Too Yumm!, a brand under Guiltfree Industries Ltd. owned by the RP-Sanjiv Goenka Group, claims to have made notable strides in offering alternatives in the snacking sector. The brand introduced Multigrain Chips with unique flavours and adopted baked snacking products early on. According to the brand, their entire snack range has been free of Palm Oil since its inception, reflecting a broader industry movement towards sustainability and healthier snacking alternatives. This shift, as claimed by the brand, highlights changing consumer preferences and industry dynamics in the snacking sector.
“Our commitment to offering palm oil-free snacks, including our popular chips range has been unwavering. With the ‘No Palm Oil’ campaign, we aim to reinforce our position as the ‘OG of No Palm Oil Snacks’ and raise awareness about the importance of mindful snacking choices.” Yogesh Tewari, Vice President of Marketing, Guiltfree Industries Ltd., said.
The campaign employs a multifaceted strategy, leveraging digital platforms to highlight the central message of No Palm Oil. This includes influencer marketing, a social media campaign featuring quirky posts and memes, and on-ground activations nationwide.
https://www.financialexpress.com/business/brandwagon-too-yumm-launches-no-palm-oil-campaign-3507256/lite/
Sumber : Financial Express
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KUALA LUMPUR (May 30): To achieve its net zero emissions goal by 2050, Malayan Banking Bhd (KL:MAYBANK) has identified interim decarbonisation targets for the bank’s palm oil and power portfolios.
The whitepaper, entitled “Banking on a better tomorrow: Our commitment to net zero”, serves as the bank’s primary instrument to publicly communicate its commitments to sustainable growth, Maybank president and chief executive officer Datuk Khairussaleh Ramli said in a statement on Thursday.
Maybank aims to reduce financed emissions intensity for its palm oil portfolio from a June 2023 baseline of 1.47 tonnes of carbon dioxide equivalent per tonne of crude palm oil (tCO2e/tCPO) produced to 1.40 tCO2e/tCPO by 2030.
“This (the 2023 baseline) is well below the reference scenario of 2.04 tCO2e/tCPO. This significant achievement is guided by an integrated reference scenario that combines the Science Based Targets Initiative (SBTi) Flag pathway, tailored for palm oil, with the Network for Greening the Financial System (NGFS) REMIND, which accounts for methane emissions from palm oil milling,” the statement read.
As for the power sector, Maybank has targeted to reduce its financing power emissions intensity from a June 2023 baseline of 442 kg carbon dioxide equivalent per megawatt-hour (kgCO2e/MWh) to 272 kgCO2e/MWh by 2030, based on the regionalised International Energy Agency Net Zero Emissions by 2050 Scenario (IEA NZE 2050) reference pathway.
Its power emissions intensity baseline of 442 kgCO2e/MWh is already below the regional benchmark of 573 kgCO2e/MWh, which represents the average level of carbon emissions from power generation in the region.
No financing to greenfield coal-fired power plants
Meanwhile, the bank said it will continue to enforce its coal policy, whereby no financing will be extended to new greenfield coal-fired power plants and borrowers who derive a material amount of annual revenue from thermal coal.
Khairussaleh said Maybank is well positioned to offer financing for its clientele and the broader palm oil and power ecosystem to support the energy transition in the region.
“By setting ambitious yet achievable targets and implementing a combination of regulatory measures, incentives, and technological innovations, we firmly believe that both sectors can play a crucial role in achieving net zero emissions by 2050,” he added.
At the noon break, shares in Maybank stood one sen or 0.1% higher at RM9.91, valuing Malaysia’s largest bank by assets at RM119.58 billion.
https://theedgemalaysia.com/node/713643
Sumber : The Edge Malaysia
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KUALA LUMPUR (May 26): Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani will lead a Malaysian delegation to Egypt and Türkiye for a working visit from May 27 to June 1, 2024.
He is also scheduled to officiate the Malaysian Palm Oil Forum Egypt 2024 in Cairo on May 28.
In a statement on Sunday, the Plantation and Commodities Ministry said the annual forum, organised by the Malaysian Palm Oil Council, (MPOC) seeks to explore the growth potential for palm oil in the North African region.
In his keynote address at the forum, Johari is expected to highlight the increasing global demand for cooking oil and its derivatives, as well as Malaysia's commitment to sustainable palm oil production.
In addition, he will meet Egypt’s Minister of Trade and Industry and Minister of Supply and Internal Trade to strengthen bilateral cooperation between the two countries. He will also meet business leaders in the palm oil industry.
Subsequently, Johari will visit Türkiye, where he is scheduled to meet the country's Minister of Trade on May 31. The objective is to strengthen collaboration and identify new business opportunities between Malaysia and Türkiye in the palm oil sector .
“Türkiye is an important destination for Malaysian palm oil exports, making this meeting particularly significant for Malaysia,” the ministry said.
https://theedgemalaysia.com/node/712991
Sumber : The Edge Malaysia
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KUALA LUMPUR (May 23): Sarawak Oil Palms Bhd’s (KL:SOP) net profit surged 80% year-on-year (y-o-y) in the first quarter, thanks to higher sales and lower production costs.
Net profit for the three months ended March 31, 2024 (1QFY2024) was RM79.46 million compared to RM44.17 million over the same period a year earlier, Sarawak Oil Palms said in an exchange filing.
Revenue rose 9.8% y-o-y to RM1.33 billion from RM1.21 billion on higher volume, it said.
“The group is taking effective steps to improve its production through an aggressive recovery programme, including cost control and replanting programme,” Sarawak Oil Palms said. The industry will continue to face challenges in view of global economic conditions and softening of commodity prices, it flagged.
Average realised prices per ton for palm oil products stood at RM3,913 versus RM3,973 in 1QFY2023, while that of palm kernel products was 3.9% lower at RM2,267 versus RM2,359 in 1QFY2023.
Sarawak Oil Palms said the group’s performance will continue to be driven by the cyclical fresh fruit bunches production, global world edible oil price movement, as well as supply chain effects on fertilisers, chemicals and fuel prices which will affect production costs.
Shares in Sarawak Oil Palms ended four sen or 1.33% lower at RM2.96, valuing the planter at RM2.64 billion.
https://theedgemalaysia.com/node/712719
Sumber : The Edge Malaysia
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PETALING JAYA: TSH Resources Bhdhttps://cdn.thestar.com.my/Themes/img/chart.png" width="18" height="18" />’s prospects remain promising, supported by steady crude palm oil (CPO) prices this year.
The plantation company – whose core net profit rose to RM22.7mil for the first quarter ended March 31, 2024 (1Q24) from RM3.6mil in 1Q23 – expects CPO prices to hold at current levels of RM3,500 to RM4,000.
This is on softer expectations of soybean crop production, it said.
Citing TSH management, TA Research said the company was cautiously optimistic about its 2024 financial performance, with CPO prices expected to be sustained at current levels due to the floods in southern Brazil.
The floods had tempered expectations for a strong soybean crop production.
“We anticipate that the movement of palm oil prices in the coming months will be influenced by both palm oil production in key producing countries (Malaysia and Indonesia) and weather patterns in the primary soybean-growing regions of Brazil and Argentina,” the brokerage said.
TA Research upgraded its call on TSH to a “buy” from a “sell” to reflect the increased upside potential and more promising outlook.
It also raised its target price for the counter to RM1.37, from RM1.14 previously, based on 18 times price-earnings ratio, after rolling forward the valuation base year to 2025.
Meanwhile, Kenanga Research maintained its “outperform” call on TSH, with an unchanged target price of RM1.30 based on 0.8 times price-to-book value.
The brokerage said TSH’s earnings were likely to remain firm over 2024-2025 on relatively steady CPO prices while production cost eases.
“CPO prices are expected to stay range bound, between RM3,500 and RM4,000 per tonne over 2024-2025.
“This is as global edible oil demand is expected to grow at 3% to 4% year-on-year, while the supply outlook may struggle to match.
“Thus, inventory is expected to stay flat or even dip slightly in 2024 and possibly into mid-2025,” Kenanga Research said.
“Input costs such as fertiliser and fuel have been easing since mid-2022 but could be bottoming of late.
“However, palm kernel prices could be picking up, helping to reduce CPO cost pressures than a year ago,” it added.
Kenanga Research said TSH would likely plant 8,000 to 10,000ha or expand its planted oil palm area by 20% to 25% over the next two to three years.
Hong Leong Investment Bank (HLIB) Research reiterated its “hold” call on TSH, with an unchanged target price of RM1.07.
“While we like TSH for its favourable age profile (average age of around 13 years) and improving balance sheet (net gearing of 0.01 times as at end-March 2024), further upside is capped by the absence of an earnings growth catalyst,” the brokerage explained.
It noted TSH was cautiously optimistic on its 2024 performance, which would be driven by stable CPO prices.
MIDF Research, which has maintained its “neutral” stance on TSH, has kept its target price for the counter at RM1.18.
“While TSH operates primarily as a pure upstream player with a strong correlation to CPO price movements, its share price does not necessarily reflect significant fluctuations.
“This is unless there are notable developments capable of influencing CPO prices above the RM4,500-per-tonne resistance level,” it explained.
https://www.thestar.com.my/business/business-news/2024/05/23/tsh-earnings-to-be-supported-by-steady-crude-palm-oil-prices
Sumber : The Star