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KLK in JV to manufacture, sell and market palm oil
India's palm oil imports plunge as buyers shift to soyoil
Palm continues gains on supply concerns, strong Indian demand
Global vegetable oil production continues to grow
Global AES Prices Spike Amid Rising Production Costs and Palm Oil Pressures
25/09/2024 (Chemanalyst) - In late September 2024, the global AES (Alkyl Ether Sulfate) market experienced a notable surge as production costs escalated. Prices for AES increased by approximately 4% across both the US and Asian markets in the week ending September 20. This rise was primarily driven by a significant 15% increase in the price of Fatty Alcohol, a critical feedstock, in major Southeast Asian exporters like Malaysia and Indonesia. This spike in Fatty Alcohol prices can be traced back to a 2.6% rise in palm oil prices in Southeast Asia during the latter half of September, further inflating AES production costs.
Malaysian palm oil futures extend gains to sixth straight session
26/09/2024 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures extended gains to a sixth straight session on Wednesday, closing at their highest level in over two-and-a-half months, as strength in Dalian contracts outweighed profit-taking in other rival oils.
Certa Ireland opens tenth HVO site
25/09/2024 (Trans.Info) - Certa Ireland, part of DCC plc, now offers HVO at one in five of its 49 unmanned, the company announced on Tuesday.
Palm Oil Price Surge Reshapes Asia-Pacific Market Dynamics in the Current Week
25/09/2024 (Chemanlyst) - The recent surge in Malaysian Palm Oil prices has sent ripples across the Asia-Pacific (APAC) region, significantly impacting market sentiments and trade dynamics. This price hike, coupled with India's recent decision to raise import duties, has led to a series of cancellations and strategic shifts among refiners and importers, thereby affecting the overall market dynamics. As per the recent market development, Indian refiners have canceled approximately around of 100,000 metric tons of Palm Oil purchases scheduled for delivery between October to December. This decision follows New Delhi's move to raise import duties by about 20 percentage points, significantly increasing the total import duty on crude Palm Oil from the previously expected 5.5% to nearly 27.5%.
Oil palm planters want incineration of empty fruit bunches to be allowed
24/09/2024 (Borneo Post Online), Kuching - The oil palm industry is appealing for an extension of the incineration process that converts empty fruit bunches (EFB) into organic fertiliser.
India raises customs duty on edible oils to support farmers
24/09/2024 (Ofi Magazine) - The Indian government has raised customs duty on edible oils in a bid to support oilseed farmers, Reuters reported.
Oil-type sunflower acres drop almost 50%
24/09/2024 (Farm Progress) - Area planted to sunflower in 2024 decreased 46% from 2023 and totals 715,200 acres, according to the initial USDA Farm Service Agency crop acreage report. The planted area of oil-type varieties, at 593,930 acres, is down 49% from 2023.
Higher blends of biodiesel fuel could cut transportation emissions
24/09/2024 (Techxplore) - Barriers that are currently preventing the use of greater percentages of biomass-based diesel fuel blended into petroleum diesel have been identified, along with strategies to overcome them, according to researchers at the National Renewable Energy Laboratory (NREL).
Call to revise palm oil windfall tax
24/09/2024 (The Star), Putrajaya - A proposal to revise the windfall profit levy (WPL) on palm oil has been made due to increased costs that have caused the windfall margin to become “virtually non-existent,” says the Plantation and Commodities Minister.
