Archived News

17/12/2020 (Antara News Online) – Jakarta: Indonesia needs to build support in the global market to tackle the negative sentiment in the European Union for its palm oil, an official from the Coordinating Ministry for Economic Affairs has said.

17/12/2020 (The Star Online) – NEW DELHI: Palm oil burst through RM3,500 a tonne to the strongest level in more than eight years on optimism that rising exports from Malaysia will deplete the country’s stockpiles and that stronger prices for rival soybean oil will increase the appeal of palm oil.

15/12/2020 (The Hindu Business Line) - Import of vegetable oils decreased by 2 per cent during November this year compared with November 2019.

17/12/2020 (Sci Dev Net) - [NEW DELHI] While palm oil is associated with deforestation and biodiversity loss, replacing it with other vegetable oil crops could prove worse for the environment, says a new study.

17/12/2020 (MECARDO Online) - The FAO publishes a set of indices monthly that track the collective fortunes of the global oilseed complex and its derived products. The indexes cover oilseeds, feed oil meal, and vegetable oil markets, across the key crops grown across the world ranging from soybeans, rapeseed and sunseed to the more niche products in the complex like coconut, groundnuts and flaxseed. The indexes are based on pricing delivered into the EU, which is an important market for Australian Canola. Since September, the FAO indexes have leaped 16-24%, with veg oils booking a 15% rise in November alone.

16/12/2020 (COGENCIS ONLINE) - NEW DELHI: Within a week, the farm ministry will send a Budget proposal for its flagship National Mission on Edible Oils of 50 bln rupees a year to the finance ministry, a senior government official told Cogencis. Earlier, the proposal was for 100 bln rupees.

16/12/2020 (REUTERS) – JAKARTA: Indonesia, the world's top palm oil maker, may lower its palm oil biofuel allocation for 2021 as the government adopted a more cautious fuel consumption outlook next year, an official at the National Energy Council said on Wednesday.

The increasing world population and demand opens up vast potential for palm oil suppliers to explore new markets, but some areas need to be improved to smoothen the whole supply chain and better facilitate purchases by countries or companies.

PETALING JAYA: Central Asia and sub-Saharan Africa represent key growth areas for the expansion of palm oil businesses, as both offer unique opportunities for local players and investors, say palm oil experts.

Palm oil is mainly used as cooking oil in developing countries and as an ingredient in food products, detergents, cosmetics, and biofuels. Palm oil production has long been associated with deforestation in the most biodiverse places on earth. Governments, organizations, and charities have embarked on campaigns to promote alternatives to palm oil, in addition to regulatory enforcement and certifications to ensure a long-term sustainable production of palm oil and ecological protection.

Dallas/Fort Worth International Airport’s environmental efforts include becoming a carbon neutral airport by 2030 and now turning used cooking oil from its F&B outlets into sustainable aviation fuel (SAF).

PETALING JAYA: Restrictions on the workforce brought about by the Covid-19 pandemic have accelerated the need for the palm oil industry to adopt new technologies and achieve greater efficiency, industry experts said.