Archived News

31/07/2024 (Financial Express) - The revenue of domestic edible palm oil refiners is predicted to increase by around 10 per cent this fiscal year due to consistent demand and greater realisations, as per a report by CRISIL. It further highlights that the operating profitability is expected to increase by 40-50 basis points (bps) to around 3.5 per cent due to favourable prices and continued duty-free imports.

31/07/2024 (Successful Farming) - Soybeans close in the green while wheat is mixed.

31/07/2024 (Oils & Fats International) - China should introduce mandatory standards for edible oil transport to reduce rising food safety concerns among consumers, according to experts quoted in a China Daily report.

30/07/2024 (Reuters), Jakarta - Malaysian palm oil futures rose on Tuesday, supported by a stronger palm oil contract on the Dalian Commodity Exchange, and the Chicago soyoil.

30/07/2024 (The Edge Malaysia), Kuala Lumpur - Indonesia’s palm oil supply is expected to remain tight and that may augur well for Malaysia, say industry experts.

31/07/2024 (The Star), Beijing - China’s trade tensions with the European Union (EU), which have been fuelled by a string of tariff increases and protectionist actions by Brussels against Chinese enterprises, could intensify further as the bloc is set to levy provisional duties of up to 36.4% on biodiesel imports from the nation.

30/07/2024 (Hindustan Times), India - Adani Wilmar Ltd plans to invest around ₹600 crore this fiscal mainly to expand its processing capacities of edible oil business and will launch more food products for consumers as well as institutional buyers to achieve higher growth in volume terms, its MD & CEO Angshu Malick said on Tuesday.

30/07/2024 (Ofi Magazine), Canada - Global agribusiness giant Cargill is halfway through construction of its new canola plant in Saskatchewan, Canada.

30/07/2024 (Ofi Magazine), Uruguay - Olive oil production in Uruguay has been impacted by drought conditions followed by rain during the harvest, Olive Oil Times wrote.

29/07/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures fell on Monday, weighed down by weakness in rival vegetable oils on the Dalian Commodity Exchange and a firm ringgit.

29/07/2024 (Bernama), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Monday, due to weaker soybean oil prices on the Chicago Board of Trade (CBOT), said a dealer.

29/07/2024 (Upstream) - Petronas, Eni-controlled Enilive and Euglena have taken the final investment decision for a biorefinery that will be built within Petronas’ Pengerang Integrated Complex (PIC) in Johor, southern Malaysia.