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MARKET DEVELOPMENT
18-12-2019

Nigeria spends $500m on importation of palm oil â€• CBN governor

A whooping sum of $500 million of the countryâ€™s scarce foreign exchange is presently being expended annually on the importation of palm oil, the governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele has disclosed.

MARKET DEVELOPMENT
18-12-2019

Firm to expand research to identify good breed in shorter period of time

JOHOR BARU: Kulim (Malaysia) Berhad has signed a memorandum of agreement (MoA) with Malaysia Palm Oil Board (MPOB) to further expand its research in improving the quality of palm oil in the country.

MARKET DEVELOPMENT
17-12-2019

Donâ€™t paint us with the same brush, Malaysian palm oil boss tells critics

KUALA LUMPUR: Carl Bek-Nielsen, whoâ€™s about to give a tour of the palm oil plantations he runs in Malaysia, is reflecting on a story by the New York Times earlier this year about an orangutan that was shot 74 times and found close to death on an oil palm estate in Indonesia.

MARKET DEVELOPMENT
17-12-2019

Debunking myths on palm oil

Countless readers of The Hindu BusinessLine are once again being misled to believe that palm oil is detrimental to heart health. The publication ran an article by Balram Bhargava and Prabhkaran Dorairaj claiming, â€œBoth past research and new evidence point to the ill effects on populations.â€ This statement is not just grossly inaccurate. It does an extreme disservice to the Indian population now experiencing an apparent uptick in cardiovascular disease.

MARKET DEVELOPMENT
17-12-2019

MPOCC to publish palm oil concession maps

THE government is planning to publish concession maps on oil palm acreage to the public to ensure transparency in the industry, said Malaysia Palm Oil Certification Council (MPOCC).

MARKET DEVELOPMENT
17-12-2019

Malaysian palm oil jumps

Malaysian palm oil rose more than 1% on Monday, recovering from the previous session's sharp fall, supported by concerns over shortfall in supplies and tracking gains in rival soyaoil prices. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed up 33 ringgit, or 1.2%, at 2,878 ringgit ($690.17). It fell 1.3% on Friday on profit-taking and a stronger ringgit.

MARKET DEVELOPMENT
17-12-2019

Indonesia's palm replanting reaches 93,702 hectares, behind schedule

Indonesia, the worldâ€™s top palm oil producer, has disbursed funds to replant 93,702 hectares (231,543 acres) of palm plantation area as of Dec. 10 and is behind schedule, according to the countryâ€™s palm fund agency

MARKET DEVELOPMENT
17-12-2019

Argentine farmers balk at new grains export taxes, say output will suffer

BUENOS AIRES, Dec 16 (Reuters) - The increase in grains export taxes announced by Argentina over the weekend will weigh on soy, corn and wheat exports as growers cut risks to compensate for lower profits expected to be caused by the new levies, farmers told Reuters on Monday.

MARKET DEVELOPMENT
17-12-2019

Korean and Indonesian NGOs launch OECD complaint against palm oil company Posco for environmental and social abuses

Washington - December 16, 2019 (Investorideas.com Newswire) A network of NGOs from Korea and Indonesia filed a complaint against Posco International, a Korean multinational, at the Organization of Economic Cooperation and Development (OECD) last week. The complaint alleges that environmental and social abuses linked to Posco and two of its Korean financiers, the Korean National Pension Service (NPS) and the Export-Import Bank of Korea (KEXIM), violate the OECD Guidelines for Multinational Enterprises.

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