Archived News

14/2/2024 (New Straits Times), Kuala Lumpur - Palm oil stockpile is expected to dip below two million tonnes in February as palm oil production is likely to decline further following a downtrend for the third consecutive month in January.

13/2/2024 (Chem Analyst.News), Deforestation for oil palm plantations has seen a resurgence in Indonesia, the world's largest palm oil producer, marking the second consecutive year of increased forest loss and reversing a decade-long trend of decline. Notably, approximately one-third of the deforestation recorded in 2023 took place on carbon-rich peatlands, amplifying concerns over potential greenhouse gas emissions as these areas are cleared and drained to make way for plantation expansion.

14/2/2024 (New Straits Times), Kuala Lumpur - Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani has called on the private sector to get involved in the commercialisation of technology developed by the Malaysian Palm Oil Board (MPOB).

15/2/2024 (The Star), Petaling Jaya - Crude palm oil (CPO) stockpiles will likely fall below two million tonnes by the end of this month, potentially pushing the commodity’s prices higher in the near term.

13/02/2024 (The Free Press Journal), India is one of the largest consumers of edible oil in the world and India imports 65 per cent of the edible oil consumed in the country. In January 2024, India's vegetable oil imports saw a significant decline of 28 per cent, totaling 12 lakh tonnes compared to 16.61 lakh tonnes in January 2023, according to the Solvent Extractors Association of India (SEA).

13/02/2024 (The Express Tribune), Karachi - Edible oil manufacturers have called for reducing the duty on Crude Palm Oil (CPO), abolishing section 8B of the Sales Tax Act, and enhancing taxes on commercial importers. The aim is to encourage farmers and others to boost industrial growth in the country.

12/02/2024(Brownfield Ag News), A governing board member for Clean Fuels Alliance America says the production of biodiesel has helped provide some added value to farmers.

13/02/2024(Biodiesel Magazine), On Feb. 5, at the Louisiana Mid-Continent Oil and Gas Association’s annual conference, Louisiana Gov. Jeff Landry announced a $100 million bond allocation for the expansion project at Chevron’s Geismar renewable diesel plant. This expansion project is expected to bring 90 new permanent jobs and 1,500 temporary jobs. While there, he also signed a proclamation and an executive order on behalf of the oil and gas industry. The proclamation states that Louisiana is open for business and our administration will work tirelessly to ensure the oil and gas industry can thrive in our state. The executive order directs the Louisiana Department of Natural Resources and the Louisiana Department of Environmental Quality to promote the streamlining of permitting processes associated with the oil and gas industry.

13/02/2024 (Open PR), The industrial hydrogenated vegetable oil market has witnessed notable growth driven by the increasing demand for versatile and stable fats in various food and non-food applications. Hydrogenated vegetable oils undergo a hydrogenation process, enhancing their physical properties and shelf stability. These oils find applications in the food industry for baking, frying, and confectionery, as well as in non-food sectors like cosmetics and pharmaceuticals. The market has experienced growth as industries seek alternatives to traditional oils, aiming for improved texture, extended shelf life, and reduced susceptibility to oxidation.

12/02/2024 (Nasdaq), Mumbai - India's palm oil imports in January dropped more than 12% from a month ago to a three-month low as negative refining margins for crude palm oil (CPO) prompted refiners to switch to rival soyoil, a leading trade body said on Monday.

12/02/2024 (Tempo.Co), Jakarta - The Foreign Affairs Ministry has affirmed that voting for the 2024 General Elections at polling stations abroad is proceeding smoothly and so far, issues arising on voting day have been managed properly.

12/02/2024 (Business Standard) - The country's vegetable oil imports declined by 28 per cent to 1.2 million tonnes in January from a year-ago period, industry body SEA said on Monday.