Archived News

The Minister of Trade, Industry and Investment, Niyi Adebayo, has announced plans by the Federal Government to collaborate with investors to implement backward integration programme across key selected priority products.

ISLAMABAD, (UrduPoint / Pakistan Point News - 30th Sep, 2021 ) :Soyabean oil import into the country during first two months of current financial year reduced by 42.15% as compared the imports of the corresponding period of last year.

An oversupply of biodiesel in Brazil is likely to push prices lower at an October auction, the country's last, that will cover market supply in the last two months of the year.

On Thursday, the CME Group’s farm markets finish mostly lower. In its September Quarterly Grains Stock Report, the USDA pegged soybean stocks higher than the trade expected. Plus, in a separate report, the USDA revised upward the U.S. soybean 202/2021 production by 80.0 million bushels

KUALA LUMPUR (Sept 29): Malaysian oil palm plantations are in urgent need of foreign labour as there has been a shortage of 75,000 foreign workers since last year.

MALAYSIA may not be able to achieve the 20 million tonnes crude palm oil (CPO) target this year if the 75,000 foreign workers shortage is not addressed, the Malaysian Palm Oil Council (MPOC) said.

Malaysian palm oil futures fell on Wednesday, erasing gains from the previous session, as they tracked weakness in crude oil and U.S. soyoil prices.

On Wednesday, the CME Group’s farm markets move higher. At the close, the Dec. corn futures finished 6½¢ higher at $5.39. March futures finished 6½¢ higher at $5.47. May corn futures ended 6¼¢ higher at $5.51. November soybean futures closed 6¾¢ higher at $12.83.

SINGAPORE, Sept 30 - Malaysian palm oil futures rose for a third straight session on Thursday, helped by strength in rival oils on the Dalian Commodity Exchange and the Chicago Board of Trade.

SINGAPORE, Sept 30 (Reuters) - Chicago corn futures lost ground on Thursday as traders squared positions ahead of a widely watched U.S. Department of Agriculture (USDA) report that is expected to show tightening stocks in the United States.

Refined Soyoil yesterday settled up by 0.97% at 1323.1 as oilseeds output is also expected to be down a tad at 23.38 mt as soyabean production was affected by the patchy rains in the key producing States of Gujarat and Madhya Pradesh, respectively. Favorable weather over the weekend boosted U.S. harvest, while exports remain capped by terminals on the U.S. Gulf Coast that continue to struggle with power outages and hurricane-led damage as the country heads into its busiest export season. India's vegetable oil imports are likely to contract for the second straight year, the Solvent Extractors' Association of India (SEA) said.

Prime minister Datuk Seri Ismail Sabri Yaakob recently presented the 12th Malaysia Plan, or Rancangan Malaysia Ke-12 (RMK-12), which is a five-year guide for the country’s development from 2021 to 2025. In it, the government touched upon biodiesel usage and how it will be scaled up in the years to come.