Berita Arkib

India’s bill for imports of vegetable oil jumped 63% in 2020/21 from a year ago to a record 1.17 trillion rupees ($15.71 billion) as overseas prices of edible oils surged, a leading trade body said on Tuesday.

CANBERRA, Nov 18 (Reuters) - U.S. soybean futures edged lower on Thursday, retreating from a six-week high scaled in the previous session, though strong export demand provided a floor to losses.

Malaysian used cooking oil exports hit an all-time high of 120,000t in September, beating the previous record of 115,000t in March, according to Global Trade Tracker.

KUALA LUMPUR: There are no plans by Malaysia to restrict the export of crude palm oil (CPO), said Datuk Zuraida Kamaruddin.

KUALA LUMPUR (Nov 16): The Council of Palm Oil Producing Countries (CPOPC) will add four new members, namely Colombia, Ghana, Honduras and Papua New Guinea, according to Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin.

India's palm oil purchases rose 15% in the marketing year 2020-21 (November-October) even though total vegetable oil imports stayed put, national trade body, the Solvent Extractors' Association of India (SEA) said in a release Nov. 16.

MCX may launch trade by year-end Market regulator Sebi has approved MCX application to launch options trading on crude palm oil futures. The exchange is expected launch the CPO options in December-end or early next year, sources said.

SINGAPORE: Palm oil may fall into a range of 4,769-4,822 ringgit per tonne, as it faces a resistance at 4,998 ringgit.

HANOI (Vietnam News/Asia News Network): Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn and his Malaysian counterpart Saifuddin Abdullah co-chaired the sixth meeting of the Vietnam – Malaysia Joint Committee for Economic, Scientific and Technological Cooperation on Monday (Nov 15).

The European Commission will propose new rules Wednesday for companies selling six major commodities in Europe aimed at ensuring their goods aren’t contributing to deforestation and are legal in their country of origin, according to a document seen by Bloomberg.

KUALA LUMPUR, Nov 17 - Malaysian palm oil futures rose on Wednesday, underpinned by estimates of weaker production and higher exports during the first half of November.

As chemical engineers and members of IChemE’s POPSIG (The Institution of Chemical Engineers’ Palm Oil Processing Special Interest Group), we have been closely following the COP26 climate change summit in Glasgow, which ran from Oct 31 to Nov 12. Ahead of COP26, we noted that on Sept 27, Prime Minister Datuk Seri Ismail Sabri Yaakob announced that Malaysia was committed to its target of becoming a carbon-neutral nation by as early as 2050. Ismail Sabri accelerated plans on Oct 11 to reduce the intensity of greenhouse gas (GHG) emissions across the economy by 45% based on the GDP in 2030. Our stand would be tabled at COP26.