Archived News

Switzerland votes Sunday on a free trade deal with Indonesia but the agreement, which opens up a vast potential market, could slip up over the issue of palm oil imports

China's crude oil imports for the first two months of 2021 reached 89.57 million tonnes, up 4.1% from a year ago and up 9.5% from the same period in 2019, bolstered by solid fuel demand and expanded refining capacity in the country.

Palm oil was at the heart of the referendum on the free trade agreement between Switzerland and Indonesia.

Indonesia's state energy company PT Pertamina said on Saturday it plans to start production at its Cilacap green refinery by the end of this year to make oil products such as diesel and jet fuel, entirely out of palm oil.

KUALA LUMPUR (March 4): Palm oil associations have lauded the government’s move to increase cess payment to fund investment in mechanisation and automation.

BASF reached a milestone on its path toward sustainable palm. The company achieved its commitment to procure palm (kernel) oils exclusively from sources certified by the Roundtable on Sustainable Palm Oil (RSPO) by 2020. Last year, BASF purchased 227,213 metric tons of certified sustainable palm (kernel) oil representing 100% of its total volume as RSPO certified. BASF also made further progress in developing transparent supply chains: The company was able to trace almost 95% of its global palm footprint, totaling 441,107 metric tons, back to oil mill level.

KUALA LUMPUR (March 4): Malaysia's palm oil inventories at the end of February likely rose for a second straight month to touch 1.42 million tonnes, as production picked up for the first time in five months, a Reuters survey showed on Thursday.

Wipro arm says freight rates also hurt Wipro Consumer Care & Lighting said a dramatic increase in palm oil prices in the global markets, coupled with unusually-high freight charges during the pandemic, has led to an 8% increase in soap prices.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher today on the back of stronger overnight soybean oil price on the Chicago Board of Trade.

SINGAPORE: Palm oil may bounce into a range of 3,713-3,752 ringgit per tonne before falling, as suggested by its wave pattern and a projection analysis.

PARIS: European rapeseed futures rose 2.5% on Thursday as signs of tightening stocks in the European Union helped the contract rally for an eighth straight session, while wheat traded flat.

KYIV- Most Ukrainian winter grain crops are in excellent condition thanks to favourable weather that could lift the 2021 harvest to a record high above 75 million tonnes, a senior government official said on Thursday.