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The European Palm Oil Alliance (EPOA) in a statement has expressed its grave disappointment caused by the intention of the Sri Lankan Government to ban palm oil.

Malaysian palm oil futures rose 5% on Monday and were on track for their best session in more than 11 months, buoyed by stronger April exports and a rally in rival soyoil amid worries about global edible oils supply.

Sri Lanka’s edible oil market has received considerable attention in recent weeks due to a series of events: the banning of palm oil importation in a bid to promote the coconut industry, detection of aflatoxins in imported coconut oil, importation of coconut kernel chips, issuing license for palm oil imports, and banning of oil palm cultivation.

China-Pakistan Free Trade Agreement Phase-II (CPFTA-II) effective since Jan.1, last year is now showing results. Pakistan’s exports to China shot up by 64 per cent during January-March 2021, Commercial Consular, Pakistan Embassy, Beijing, Badar Uz Zaman said.

This is a sensible approach and devoid of acrimony, it is a clear indication that the Biden administration will endeavor to compete with China instead of treading the dangerous path of conflict, which his predecessor had opted for.

Prices of all types of soybean oil, including bottled and open, have gone up another notch in the capital within just a week since the last hike

The Ministry of Plantation Industries and Commodities (MPIC) will introduce an application to facilitate oil palm transactions, and further prevent any fraudulent activities, which includes weighing the fruit.

Sri Lanka has come under a global purview in the wake of the country’s ban on importing and producing palm oil as a number of countries raised concerns over these actions by the government in a move to curb the use of the edible oil.

Thirteen companies engaged in the production of vanaspathi using palm oil for the Indian market are on the verge of collapsing, several leading members of the Vanaspathi Exporters Association told the Business Times.

Malaysian palm oil futures fell for a second straight session on Friday, logging in a total loss of 4.8%, tracking cheaper rival oils and on worries of lower demand from India due to a surge in COVID-19 infections in the world’s top vegetable oil importer.

Sarawak Oil Palms Bhd (SOPB) remains cautious on the outlook for 2021 amid the uncertainty of the global edible oil supply-demand dynamic and geographical politics headwinds

Malaysian palm oil futures fell for a second straight session on Friday, logging in a total loss of 4.8%, tracking cheaper rival oils and on worries of lower demand from India due to a surge in COVID-19 infections in the world's top vegetable oil importer.