Archived News

SINGAPORE: Palm oil may test a support at 3,300 ringgit per tonne, a break below which could cause a fall to 3,221 ringgit.

ISLAMABAD: The government is expecting a downtrend in edible oil prices in the domestic market due to reversal in international rates of palm oil, officials said on Monday.

THE country’s agriculture and edible oil sector is expected to witness some competition from new technological breakthroughs that could also be the answer to food security issues that might crop up in the near future.

SAO PAULO, Jan 18 (Reuters) - Brazilian soy farmers, who started planting late because of dry weather in the final months of 2020, have harvested only 0.4% of the cultivated soybean area this season, agribusiness consultancy AgRural said on Monday.

Although only nine of Iowa’s 11 biodiesel plants operated in 2020, they still managed to bump up production to 351 million gallons despite market challenges presented by the COVID-19 pandemic and Renewable Fuel Standard exemptions. 2020 proved to be the second highest year of biodiesel production in Iowa history behind 365 million gallons in 2018. Plenty of room for growth remains given Iowa’s over 400-million-gallon production capacity.

Amid the skyrocketing prices of edible oils in the local market, a government body has suggested withdrawing value-added tax (VAT) to tame inflation.

KUALA LUMPUR, Jan 19 (Reuters) - Malaysian palm oil futures fell 1% on Tuesday, down for a sixth day in seven, on concerns over declining exports ahead of cargo surveyor data and tracking rival soyoil's price drop.

KUALA LUMPUR: The Malaysian Palm Oil Board (MPOB) has developed three advanced palm-based technologies for commercialisation.

KUALA LUMPUR: The plantation industries and commodities ministry (MPIC) has initiated legal action against the European Union (EU) and its member states France and Lithuania following their anti-palm oil measures.

BIRGUNJ: Most of the vegetable oil and ghee industries in Parsa and Bara districts have been affected after India imposed a ban on import of palm oil.

KUALA LUMPUR: Malaysian palm oil futures fell as much as 3% on Friday and logged their biggest weekly decline in 10 months, as cargo surveyors reported a steep plunge in exports in the first half of January. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed down 102 ringgit, or 2.9%, to 3,425 ringgit ($848.82) a tonne, its lowest since Dec. 23.

Malaysian Timber Industry Board (MTIB) director-general Mohd Kheiruddin Mohd Rani said utilising alternative raw materials from oil palm biomass, such as oil palm trunks, empty fruit bunches, oil palm frond, palm kernel shell, and other biomass, such as sawdust, kenaf, bamboo, rice husk and others, would add more value to the end product.