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CPO futures end higher on worries over weaker palm oil production
CPO prices set to trade between RM3,800 and RM4,200 per tonne in 2H2024, says MPOC
Palm oil set to rise in 2H as La Nina poses supply risk
CPO prices stay above RM4,000 for second straight day
Cargill Announces Over 50% Completion of Regina Canola Processing Facility
18/07/2024 (ChemAnalyst News) - Cargill, a global leader in oilseed processing, announced on 16 July 2024 that it has surpassed the 50 percent completion milestone in constructing its new canola facility at the Global Transportation Hub in West Regina, Saskatchewan. The facility, which broke ground in July 2022, is expected to open in 2025. It will have the capacity to process 1 million metric tons of canola annually, producing crude canola oil for food and biofuel markets, as well as canola meal for animal feed.
Iowa biodiesel industry welcomes call for greater usage
18/07/2024 (Biofuels International) - The Iowa Biodiesel Board has welcomed Iowa US Representative Ashley Hinson for leading a bipartisan letter to the Environmental Protection Agency (EPA) encouraging more usage of biofuels in the country.
EPA: 2.04 Billion RINs Generated Under RFS In June
19/07/2024 (Biodiesel Magazine) - Nearly 2.04 billion renewable identification numbers (RINs) were generated under the Renewable Fuel Standard in June, down slightly from 2.06 billion generated during the same month of last year, according to data released by the U.S. EPA on July 18. Total RIN generation for the first half of 2024 reached 12.07 billion, up from 11.43 billion generated during the same period of last year.
Palm oil rises on higher Malaysian export estimates; firmer ringgit caps gains
17/07/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures rose on Wednesday, buoyed by higher export estimates from the world's second-biggest producer, although a firmer ringgit capped gains.
IOI Corp expects crude palm oil unit cost to fall 4 pct in FY24
18/07/2024 (New Straits Times), Kuala Lumpur - IOI Corporation Bhd expects crude palm oil (CPO) unit costs to reduce four per cent year-on-year (YoY) for financial year 2024 (FY24).
The push for sustainable palm oil isn’t going far enough
17/07/2024 (South China Morning Post) - Smallholders are instrumental in Southeast Asia’s palm oil production. Indonesia alone, they cultivate roughly 41 per cent of the land dedicated to oil palm, while in Malaysia, that number is at least 27 per cent. Globally, smallholders are responsible for roughly 35 per cent to 40 per cent of the world’s total oil palm plantations. Therefore, as global concerns about sustainability increase, smallholders play an important role in sustainability initiatives.
Malaysia and India to work together to counter anti-palm oil campaigns
17/07/2024 (New Straits Times), Kuala Lumpur - Malaysia and the world's largest importer of palm oil, India, will work together to counter the anti-palm oil campaign by the West.
From cooking oil to waste truck fuel
17/07/2024 (Bracknell Forest Council) - In a significant move towards sustainability, the council’s Executive has approved to trial hydro treated vegetable oil as fuel for a waste collection vehicle.
Deputy minister urges palm oil industry to repurpose residuals for sustainable aviation fuel
16/07/2024 (Borneo Post), Kuala Lumpur - The palm oil industry should explore repurposing residuals as a crucial feedstock for sustainable aviation fuel (SAF), moving beyond traditional uses of palm oil, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.