Archived News

A COMMODITY supercycle may be building as analysts notice that the upswing in prices of various commodities is driven by rising demand due to lower stockpiles across supply channels and Chinese demand.

Rajendranagar: With an aim to promote oil palm cultivation in the State, the Telangana government notified an additional potential area of 3.29 lakh hectares i.e 8.14 lakh acres in 25 districts of Telangana apart from already notified areas. To begin with, the government has sowed the seeds of idea especially in the eastern region of the State in order to paddle its own canoe in oil palm production.

CHICAGO (Jan 19): Chicago soybean futures slid on Tuesday as rain across South America strengthened crop prospects and bolstered the global supply outlook, traders said.

PUTRAJAYA: Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said the cooking oil subsidy has always been reserved for a kilogramme in polybag packaging since November 2016.

Malaysia is set to take legal action at the global trade watchdog against the European Union and member states France and Lithuania for restricting palm oil-based biofuels in an ongoing row about access to markets.

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.