Archived News

16/04/2024 (Olive Oil Times) - Efforts to diversify the Omani economy are bearing fruit, according to officials in the small kingdom on the southeastern coast of the Arabian Peninsula.

16/04/2024 (Travelage West) - Contiki, a social travel brand for travelers ages 18 to 35, announced that its new coaches in Europe will now run on Hydrotreated Vegetable Oil (HVO) instead of diesel, wherever possible. This shift will result in a reduction in carbon emissions by up to 30-40%.

16/04/2024 (The Daily Star) - The refiners want to hike retail edible oil price by Tk 10 per litre as the reduced value-added tax (VAT) benefit they have been enjoying for the last two months expired yesterday.

16/04/2024 (World Grain), Bangkok, Thailand - A slow economic recovery will keep soybean crush in Thailand in 2023-24 and 2024-25 well below the five-year pre-pandemic average, according to a Global Agricultural Information Network (GAIN) report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.

16/04/2024 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures fell on Monday to their lowest closing in over two weeks, weighed down by lacklustre global demand and weaker crude as traders shrugged off data indicating tightening inventories.

15/04/2024 (New Straits Times), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade range-bound with an upward bias next week ahead of the release of the palm oil industry data for March 2024, said a dealer.

15/04/2024 (Successful Farming) - Soybean oil accounts for 42% of all feedstocks for biodiesel and renewable diesel, the two fuels that make up the larger category of biomass-based diesel.

15/04/2024 (Brownfield) - Soybeans were lower on profit taking and technical selling. There was some spillover pressure from meal and the broader market with beans watching South American harvest activity. Brazil is now past the 80% mark, while Argentina is getting close to 15%. The USDA’s next set of supply, demand, and production estimates is out May 10th, with CONAB’s updated outlook for Brazil on May 14th. Stateside, the USDA was expected to report widespread planting is getting underway. The USDA says 3% of U.S. soybeans are planted, compared to the five-year average of 1%. Soybean export inspections were below the previous week and a year ago, with China and Indonesia leading the way. China reportedly bought soybeans from Argentina and Brazil last week. The NOPA says member firms crushed a monthly record of 196.406 million bushels of soybeans during March, an increase of 5.5% on the month and 5.7% on the year, with oil stocks topping pre-report expectations. That larger than expected stocks number, and the losses in crude oil during the CBOT session, sent soybean oil futures lower.

15/04/2024 (Punch) - A Professor of Chemical Engineering at the University of Ilorin, Kwara State, Elizabeth Odetoye, has produced biodiesel through the exploration of chicken eggshell-derived heterogeneous catalyst.

15/04/2024 (The Star), Petaling Jaya - Mercury Securities Research (Mercury Research) likes MKH Oil Palm (East Kalimantan) Bhd (MKHOP) for its plantation acreage’s age profile and superior fresh fruit bunch (FFB) yield, which makes the company a compelling investment play should crude palm oil (CPO) prices remain high.

14/04/2024 (New Straits Times), Kuala Lumpur - Plantation stakeholders might witness a retreat in crude palm oil (CPO) prices, dipping to the trading range of RM3,800 to RM4,000 per tonne throughout April and May, attributed to the abundant supply of soybeans from the United States flooding the global market.

14/04/2024 (The Edge Malaysia) - The world is facing a growing shortage of its most versatile edible oil. The solution may lie with emerging producers half a world away from Southeast Asia’s vast palm oil plantations.