Archived News

26/08/2010 (African Liberty.org), Lagos, Nigeria - In response to the World Bank Group Palm Oil stakeholder consultation, the Nigeria-based think-tank, Initiative for Public Policy Analysis (IPPA), has outlined the indispensable role that palm oil production plays in achieving economic growth and opportunity for African nations such as Nigeria and Ghana - particularly for the rural poor - in a report released today.

25/08/2010 (The Star Online), Petaling Jaya - Cargo surveyor Intertek said Wednesday that the country’s palm oil exports dropped 7.6% to 992,319 tonnes in the August 1 to 25 period compared to the same period in July.

25/08/2010 (Biodiesel Magazine) - The wait for canola oil as a U.S. EPA-approved biofuel pathway is over. Five months after releasing the final rule for the revised renewable fuel standard (RFS2), the EPA released a Notice of Data Availability, stating that the canola oil biodiesel pathway creates a 50 percent reduction in greenhouse gas emissions compared to the diesel fuel baseline. Using the same RFS2 lifecycle analysis modeling for other biofuels already approved, the EPA also compared canola oil conversion efficiencies to biodiesel produced from soybean oil. Not surprisingly, the final analysis shows one pound of canola produces 0.40 pounds of oil compared to soybean’s 0.18 pounds of oil.

24/08/2010 (Ghana Web) - The Minister of Food and Agriculture, Mr Kwesi Ahwoi, on Tuesday visited the Ghana Oil Palm Development Company, (GOPDC), at Kwae in the Kwaebibirem District to acquaint himself with its operations.

24/08/2010 (Biofuels Digest) - In Nigeria, the Initiative for Public Policy Analysis has released “Palm Oil and Economic Development in Nigeria and Ghana; Recommendations for the World Bank’s 2010 Palm Oil Strategy,” in which highlights the importance for the World Bank to stay focused on its original mission of poverty reduction through economic development.

24/08/2010 (The Economic Times), Mumbai - Indian soyoil futures fell over 1 percent on Tuesday afternoon tracking weakness in palm oil and as higher supplies from imports and domestic crushing surpassed festive demand, analysts said. Soybean and rapeseed were hammered by an expansion in acreage under summer-sown oilseeds and good rains in growing areas.

24/08/2010 (The Economic Times), New Delhi - Crude palm oil prices moved down by Rs 1.20 or 0.29 per cent to Rs 409 per 10 kg in futures market today, as traders reduced their positions at the back of a weakening global trend.

24/08/2010 (Bloomberg) - Palm oil dropped after the discount to soybean oil narrowed to the lowest in more than four months, boosting the appeal of the rival oil for use in food and fuels as U.S. soybean supplies were forecast to increase.

24/08/2010 (Scoop Indepent News) - “The World Bank’s framework for engagement in the palm oil sector must focus on sustainable economic development and poverty alleviation, not imposing developed world consumer’s attitudes on some of the world’s poorest producers”, said Tim Wilson, Director of the Sustainable Development project at the Institute of Public Affairs, today.

24/08/2010 (The Star Online), Jakarta - Malaysian palm oil producers should heed the case of Sinar Mas Group where claims of forest destruction committed by its palm oil unit, PT Smart, led international consumer companies, including Unilever, to stop buying palm oil from the company, said environmentalists.

23/08/2010 (Bangkok Post) - The economy should show a total 7.0-7.5 per cent growth this year following a 10.6 per cent growth in the first half, National Economic and Social Development Board secretary-general Ampon Kittiampon said on Monday.

23/08/2010 (The Daily Star) - The local edible oil markets may be feeling the heat of rising global palm oil prices, as the current price is 9.5 percent higher than mid-June's price.