Posted by Mabel > 2020-09-30 11:50 | Report Abuse

It should rise...more support from the Government...

Posted by Mabel > 2020-09-30 12:16 | Report Abuse

THE HISTORY OF MABEL PALM OIL

The Palm Oil, whose scientific name is Elaeis guineensis Jacq, originates from West Africa. It were first brought into this country by the British in the 1870’s as an ornamental plant in their gardens. However, other countries were already familiar it and its uses. Among the earliest evidences of its usage were
• Traces of my ancestors found in burial urns aged 5000 years in Abydos, Egypt
• The barter of palm oil for salt centuries ago
• A lubricant for engines and in the manufacture of candles, soap and margarine in Europe during the 19 th century.

Palm Oil started to make Malaysia its home on a large scale in the 1960’s. This started when the Malaysian Government introduced a land cultivation scheme for the purpose of planting oil palm trees.The purpose of this scheme was to eradicate poverty and raise the standard of living for the rural population. Today, palm oil grows and flourish in palm oil plantations which can be found throughout the country, from Perlis to Sabah.

Posted by Mabel > 2020-09-30 12:40 | Report Abuse

Rubber Glove, the next money maker for MALAYSIA after CPO soon. CPO is trading at RM2915. Cost for FGV Farmers is RM 1500..Fantastic Profits!

This is one of the reasons why Miss Mabel is collecting FGV. FGV has both.. Palm Oil and Rubber Plantations..

https://www.thestar.com.my/business/business-news/2020/09/30/rising-rubber-a-rival-for-palm-oil

Posted by strattegist > 2020-09-30 13:50 |

Post removed.Why?

Posted by dam82 > 2020-09-30 15:40 | Report Abuse

Privitize 2 also can

Posted by strattegist > 2020-09-30 16:38 | Report Abuse

oscillating

Posted by Mabel > 2020-09-30 18:53 | Report Abuse

Looks like 1.50 is still a moist dream..

Meow

Posted by wehcant > 2020-09-30 21:37 | Report Abuse

US to block imports from Malaysia's FGV. GG
https://www.theedgemarkets.com/article/us-block-imports-malaysias-fgv

Posted by dam82 > 2020-09-30 21:47 | Report Abuse

useless piece of shit ..did not expect this ... with the new management but l doubt FGV import much to US ..

Posted by Selina888 > 2020-09-30 21:50 | Report Abuse

Hopeless counter.......investors , retailers, punters etc also shy away.

Posted by dam82 > 2020-09-30 22:00 | Report Abuse

can expect to go below 1 soon

Posted by Miche87 > 2020-09-30 22:02 | Report Abuse

habis la.. gg.com tmr

Posted by dam82 > 2020-09-30 22:09 | Report Abuse

esok close eye don't see .... useless management to be honest never expected this .. again

Posted by Mabel > 2020-09-30 22:20 | Report Abuse

https://www.theedgemarkets.com/article/us-block-imports-malaysias-fgv FGV is the latest casualty. Where is our Agricultural Minister? What's keep him busy these days? Why is he not visible like Teresa Kok?

Posted by dam82 > 2020-09-30 22:27 | Report Abuse

can't comment much its very obvious these FGV Management still not competent ... sure blood bath 2morow ...

Posted by rezzare > 2020-09-30 22:29 | Report Abuse

Olin liao

Posted by Lord B > 2020-09-30 22:36 | Report Abuse

India is the largest importer of palm oil from fgv..followed by China and EU countries. This isnt exactly a major hit to FGV

Posted by memorylane > 2020-09-30 22:47 | Report Abuse

Actual impact for US export might be small... but this news is big enough in this sensitive period... probably limit down tomorrow...

Posted by memorylane > 2020-09-30 22:48 | Report Abuse

Still remember what happen when top glove being blocked in US... actually the business impact is minimal, but the news sent the stock price down so much ....

Posted by Mabel > 2020-09-30 23:19 | Report Abuse

Very good observation guys...

Thank you!

Posted by gemfinder > 2020-09-30 23:33 | Report Abuse

Another common malay management company. Bankrapt soon

Posted by Mabel > 2020-09-30 23:43 | Report Abuse

The best thing to do is to close rank and shape up the country...

Another thing I like to touch upon is Palm Oil is actually good for environmental. However the West feels threatened with our Palm Oil competitiveness. This is where our Agricultural Ministry has to steps in to play their role Teresa Kok did an excellent job during her time to diffuse this myth. Palm Oil prices was trading above RM 3500 during her time. I wonder what keeps our Agricultural Minister busy these days?

Meow

Posted by ming > 2020-10-01 00:06 | Report Abuse

Soybean rebound so much finally.. but come out this news.. alamak

Posted by Lord B > 2020-10-01 01:10 | Report Abuse

The business is still solid. We hear such sanction or blockage all the time. Just like how US placed plenty of anti dumping laws across the world. If the PO is small then the impact is minimal. Just like did everyone just throw away GENM? Their business dropped about 80% though.way worse than this impact yet GENM is still above Rm2.

Posted by supersaiyan3 > 2020-10-01 04:55 | Report Abuse

U.S. Blocks Palm Oil Imports From One of the Top Producers
By Elizabeth Elkin
September 30, 2020, 11:53 PM GMT+8 Updated on October 1, 2020, 1:12 AM GMT+8

Customs agency will detain palm oil made by Malaysia’s FGV
Order comes as the company faces forced-labor allegations


The U.S. has blocked imports of palm oil and palm oil products from Malaysia’s FGV Holdings Bhd., one of the world’s largest producers.

Shipments from the company and its subsidiaries will be held back at all ports of entry effective Wednesday, the U.S. Customs and Border Protection said in a statement. The order is based on what American authorities say is information that “reasonably indicates” the use of forced labor.

The move is the latest blow to the palm oil industry after the spread of the coronavirus shuttered restaurants, curbing demand for cooking oil. That comes after a spat between Malaysia and India hurt trade and companies grappled with smaller supplies.

The order is the result of a yearlong investigation that revealed labor abuse of vulnerability, deception, restriction of movement, isolation, intimidation and physical and sexual violence, according to the customs statement. Malaysia is the second-biggest shipper of palm oil to the U.S.

In a Sept. 26 statement, FGV said it’s fully committed to respecting human rights and upholding labor standards.

The global palm oil deficit is only likely to amplify after 2025 due to inadequate replanting in recent years and biodiesel mandates in Malaysia and Indonesia, according to Rabobank research.

In 2019, $441 million worth of tropical oils were imported to the U.S. from Malaysia, much of that being refined palm oil, according to U.S. Department of Agriculture data. Through the first seven months of 2020, the volume of such shipments was down 15%.

FYI

Posted by 5354_ > 2020-10-01 05:17 | Report Abuse

US use so much palm oil not soy bean? How about forced labour in TopGlove?

Posted by Mikecyc > 2020-10-01 06:17 | Report Abuse

Refer to MPOB : 2020 Jan to August

export to U.S.A is 387,347 MT

export to China is 1,842,142 MT vs 2019 1,395,697 MT : + 32 %

export to India is 1,176,274 MT vs 2019 3,597,563 MT : - 67.3 %

Posted by Calvin882 > 2020-10-01 06:42 | Report Abuse

The impact is huge. It impacts not only the volume FGV export to US. FGV also selling to other palm oil companies like Sime Darby, IOI, KLK etc. This may result in other companies forced to suspend buying from FGV. Even many companies in China or India are owned by US companies and may suspend buying too.

Posted by Calvin882 > 2020-10-01 07:02 | Report Abuse

This may affect the whole sector and supply chain as every company now need to find new buyers for the sanctioned oil. Price will reduce.

Posted by skybursa > 2020-10-01 07:16 | Report Abuse

US government import small quantities only but it much bring attention from Europe to follow with the ban. Trump government are disaster to free trade.

Posted by Sami_Value > 2020-10-01 07:17 | Report Abuse

USA everything also force labour, ask them go fly kite with their hypocrite agendas

Posted by i3lurker > 2020-10-01 08:04 | Report Abuse

wah !!!

why did US ban FGV?

is it because the mattress is only 3.99 inches so does not comply with 4 inch mattress ruling?

Posted by JBond007 > 2020-10-01 08:08 | Report Abuse

Oktoberfest of Sawit!

Posted by wehcant > 2020-10-01 08:08 | Report Abuse

Forcing their prisoners to fight wildfire in California is a noble thing. Oh yes, many of the Rights groups are being paid by certain quarters to undermine their competitors. If not where do you think they get their money from? Public donors?

Posted by henry888 > 2020-10-01 08:14 | Report Abuse

US always macam macam, force labour lah, sanction, tax lah..bagus US isolated herself from the world..don't trade with the world...

Posted by i3lurker > 2020-10-01 08:26 | Report Abuse

all these :-

soap,
shampoos,
ice cream,
medicines,
instant noodles,
biscuits,
canned sardines,
canned curry beef,
canned curry chicken etc etc

all using FGV palm oil all kena hantar balik.

cheers,

who will EAT all these expired products?

donate to orphans to get Tax Deductions?

Posted by strattegist > 2020-10-01 08:31 |

Post removed.Why?

Posted by dam82 > 2020-10-01 08:46 | Report Abuse

Open RM 1

Posted by wehcant > 2020-10-01 08:53 | Report Abuse

FGV says has been taking steps since 2015 to address issues. https://www.theedgemarkets.com/article/fgv-disappointed-over-cbp-decision-says-has-been-taking-steps-2015-address-issues

Posted by i3lurker > 2020-10-01 08:54 | Report Abuse

all these

milk powder
cans of evaporated milk
coffee creamer

all hantar balik......from US to be donated to orphans

Posted by dam82 > 2020-10-01 08:57 | Report Abuse

Too late ...FGV gap down today

Posted by Jeffreyteck > 2020-10-01 08:57 | Report Abuse

Must pay salary based on US rates, then solved. But may be only management and bod with good pay, so can't afford to pay everyone high or reasonable. Poor sector, good time, windfall tax, unlike bangking sector, bad time also with guaranteed bonus for certain people.

Posted by i3lurker > 2020-10-01 09:01 | Report Abuse

free susu for all i3 members ?????

nowadays susu is all palm oil

Posted by dam82 > 2020-10-01 09:02 | Report Abuse

I no see FGV till next year ...useless maximum ...better sell to China man

Posted by dam82 > 2020-10-01 09:08 | Report Abuse

This is what people.call as organization having the basic hygiene...this clowns seems can't fix anything...ermm hope those FGV buyer will shift to UTDP lor ..

Posted by Slc1 > 2020-10-01 09:26 | Report Abuse

First TOPGLOV now FGV . Something is wrong and weird. Why target Malaysia ??? Maybe they thought can bully Malaysian bcos we're friend with China .

Posted by Mabel > 2020-10-01 09:33 | Report Abuse

8 of my Plantation is very Green today. So the Industry is still intact.

Only FGV, IOI Corp and Sime Darby is RED.

IOI and Sime Darby could turn green by end the day.

FGV took the biggest HIT!

Management better act fast to restore confidence. TS did well in the recent TG Ban fiasco with the US.

Meow

Posted by bahai4453 > 2020-10-01 09:39 | Report Abuse

US government and the NGO human right groups are all bullshits. These bastards going around the world disturbed everyone. In their country Muslims are terrorists but in other countries they try to act savior to all Muslims.
US is no.1 world gangster. A monster government destroying world peace.

Posted by DickyMe > 2020-10-01 09:41 | Report Abuse

US government and the NGO human right groups are all best in the world.

Posted by LuckyG > 2020-10-01 10:01 | Report Abuse

fgv will be the next topgloves !!! strong indication !! maybe american want to buy fgv up !!!