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OILS & FATS
31-07-2023

Construction of $200m palm oil production unit in Côte d’Ivoire underway

28/07/2023 (Construction Review Online) - Chinese company Hunan No.6 Engineering Co. has started work on a palm oil production unit in Côte d’Ivoire. According to Ecofin Agency, this project is a part of a partnership between Côte d’Ivoire and China that is expected to last 18 months. Once the factory is operating, 500 new employments should be created. The largest exporter of crude palm oil in Africa is Côte d’Ivoire. The nation that wants to strengthen its position urges private companies to increase their investment in the processing industry.

MARKET DEVELOPMENT
28-07-2023

VEGOILS-Palm declines on stronger ringgit, cheaper Indonesian cargoes

Malaysian palm oil futures fell for a third consecutive session on Thursday, dragged by a firmer ringgit and cheaper Indonesia-origin cargoes, although losses were capped by stronger Dalian soyoil and crude oil.

WORLD
28-07-2023

Saudi Arabia Looks to Invest in Indonesia's Palm Oil Industry

TEMPO.CO, Jakarta - A Trade Attache to the Indonesian Embassy for Riyadh, Saudi Arabia stated that Saudi Agriculture and Livestock Company (SALIC) is interested to invest in vegetable oil products or palm oil in Indonesia. "Concerning edible oil, SALIC is very interested to cooperate with Indonesia and Indonesia is one of the biggest crude palm oil (CPO) producers," said Gunawan in a written statement in Jakarta, on July 26, 2023.

WORLD
28-07-2023

Indonesia Commits To Trade Goals With Kazakhstan As Part Of EAEU FTA Negotiations

Kazakhstan and Indonesia have set an ambitious goal of bringing their mutual trade turnover to US$1 billion. According to Kazakhstan’s Ministry of Trade and Integration, this was the immediate trade goals aimed for during the second round of negotiations for the Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and Indonesia. The EAEU includes Kazakhstan along with Armenia, Belarus, Kyrgyzstan, and Russia.

LOCAL
28-07-2023

Idemitsu’s biomass project in Malaysia faces delays

Japanese refiner and energy firm Idemitsu has delayed the start-up of its Malaysian biomass production plant, as it announced the end of its partnership with Europe-based renewable energy venture TG2 GmbH in the project.

WORLD
28-07-2023

Philippines, Malaysia private sector groups sign MOU to explore joint agri dev't

MANILA, Philippines — Malaysian and Philippine private sector groups signed a joint agreement at the heels of President Ferdinand Marcos Jr.’s state visit to explore joint agricultural development.

LOCAL
28-07-2023

DPM Fadillah: Madani economy can boost economy, improve country’s GDP

KUALA LUMPUR, July 27 — The initiatives under the Madani Economy announced by Prime Minister Datuk Seri Anwar Ibrahim today are capable of boosting the economy and improving the country’s gross domestic product (GDP), Deputy Prime Minister Datuk Seri Fadillah Yusof said.

OILS & FATS
27-07-2023

Palm oil sector to get boost in second half of 2023

26/07/2023 (The Borneo Post), Kuala Lumpur - The accession of the United Kingdom to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), improved labour conditions and a softer ringgit are expected to be the catalysts for the palm oil sector to be fruitful in the second half of 2023 (2H 2023).

MARKET DEVELOPMENT
27-07-2023

VEGOILS-Palm oil extends losses on weaker US soybean oil, stronger ringgit

26/07/2023 (Nasdaq), Singapore - Malaysian palm oil futures dipped on Wednesday, extending losses for a second consecutive session and paring earlier gains as a stronger Malaysian ringgit and weaker U.S. soybean oil weighed.

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