Archived News

27/12/2023 (Climates Change News) - Indonesia said on Friday that it would slap palm oil companies operating within forest areas with fines amounting to a total of 4.8 trillion rupiah ($310.1 million).

27/12/2023 (Nasdaq), Kuala Lumpur - Malaysian palm oil futures rose for a second session on Wednesday, with strength in rival edible oils underpinning the market, although low trading volumes capped the gains.

28/12/2023 (Financial Express) - At a time when soybean oil is gaining popularity over palm oil, investment in crushing soy seeds for producing finished cooking oil in local refineries makes business sense. No wonder, companies which were used to refining imported crude oil see the opportunity of crushing soybean for supplying semi-raw materials to their existing refineries by setting up grinding mills of larger capacities. In fact, the City Group made its tentative entry into the crushing business as early as 2005 by installing a mill with a capacity of 1,000 tonnes per day (TPD). Currently, its three mills have a total capacity of 7,800 TPD. Meghna follows close behind with a capacity of 7,000 TPD. What is remarkable is that both refinery giants now get 30-40 per cent supply of their total crude oil from their own crushing plants. It is good to know that more companies are following in their footsteps.

27/12/2023 (Business Standard) - As global prices of edible oil saw a steep correction in 2023 providing relief to consumers, prices were on the boil last year being one of the main drivers of food inflation.

In Malaysia, Platts reports that palm oil prices are expected to recover next year thanks to increased demand following increases in biodiesel blending worldwide, while palm oil production is likely to remain stagnant in Indonesia and Malaysia.

KUALA LUMPUR: Malaysian palm oil futures ticked up on Tuesday as trading resumed after a long holiday weekend, with stronger rival Dalian vegetable oils underpinning the market, although low volumes of trade limited gains.

Latin American soybean crushing volumes are likely to increase consistently in 2024 on the back of a recovery in Argentina's crop output and a higher biodiesel mandate set for Brazil.

KUALA LUMPUR, Dec 27 (Reuters) -Cargo surveyor Societe Generale de Surveillance (SGS) estimates exports of Malaysian palm oil products for December 1-26 at 1,038,834 metric tons, according to LSEG.

Global grain markets faced pressure last week due to limited export news following a surge in US wheat sales the previous week and forecasted rains in Brazil.

JAKARTA (Reuters): Indonesia said on Friday that it would slap palm oil companies operating within forest areas with fines amounting to a total of 4.8 trillion rupiah (US$310.1 million RM1,45 billion).

In Brazil, Reuters reports that will the expected increase in the biodiesel mandate to 13% from March 2024, soybean exports are expected to fall as the additional biodiesel volumes will require 5 million metric tons of soybeans.

Bangladesh's cooking-oil refiners are moving towards becoming value-added producers by establishing soybean-crushing plants locally, producers and insiders said on Monday