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MARKET DEVELOPMENT
25-07-2013

Edible Oil Import Customs Begin Collecting 16 Percent FED

25/07/2013 (Business Recorder) - Some Collectors of Customs on Tuesday rectified an error by collecting 16 percent standard rate of Federal Excise Duty (FED) on the import of edible oil instead of 17 percent. It is learnt that the customs in Karachi is collecting the accurate rate of 16 percent FED on the import of edible oil whereas Model Customs Collectorate Peshawar is still reportedly charging 17 percent FED on the import of the said item.

MARKET DEVELOPMENT
24-07-2013

Indonesian Crude Palm Oil Exports Surge 29% in June 2013

24/07/2013 (Indonesia Investments) - Indonesian exports of crude palm oil (CPO) in June 2013 grew about 29 percent to 1.62 million ton compared to the same month last year. Although production of CPO in Indonesia slowed down in June, higher demand for Indonesia's CPO is met because there are still sufficient amounts of stockpiles. A high official at the Indonesian Palm Oil Association (Gapki) said that stockpiles in 2012 grew to 5 million tons as global demand for the commodity weakened sharply amid international economic turmoil.

MARKET DEVELOPMENT
24-07-2013

Edible Oils Slip on Selling Pressure

24/07/2013 (Hindu Business Line) - Weak sentiment continued in edible oils market on Tuesday on poor physical demand and bearish futures. Due to heavy rain in the city, transportation services were disturbed and brokers - traders stayed away from fresh activities.

MARKET DEVELOPMENT
24-07-2013

UPDATE 1-Wilmar and Noble Palm Joint Venture in Indonesia\'s Papua Stalls

24/07/2013 (Reuters) - A planned venture between Wilmar International and Noble Group Ltd to develop palm plantations in Indonesia's Papua region has stalled just months after it was announced as it failed to win approval from authorities.

MARKET DEVELOPMENT
24-07-2013

Cargill on Sustainable Palm Oil: The Low Hanging Fruit Has Been Captured, Now The Hard Work Begins

24/07/2013 (FoodNavigator-USA.com) - As the pressure to source sustainable palm oil has intensified, several big names in the US from Kroger and Walmart to McDonaldâ€™s and Dunkin Donuts have said that by 2015, they will only use RSPO (Round Table for Sustainable Palm Oil) certified products.

MARKET DEVELOPMENT
24-07-2013

Americaâ€™s Youth Tells Starbucks to Say â€œNoâ€ to Palm Oil!

24/07/2013 (National Geographic) - Did you know that the worldâ€™s orangutan population has declined by more than 50 percent since 1992? And did you know that this decline is largely due to loss of habitat, notably for the development of palm oil plantations? Because of our hunger for luxury items like baked goods and cosmetics, the loss of pristine rainforest continues to rise. Even Starbucks, a company known (perhaps surprisingly) for it social activism, continues to purchase oil from unsustainable sources, at the cost of countless plant and animal species. Some companies have said they will change some time in the future, but when will â€œlaterâ€ become â€œtoo lateâ€?

MARKET DEVELOPMENT
24-07-2013

PEC Tenders for 18,000 Tonnes Palm Olein Oil

24/07/2013 (Economic Times) - Indian state trading company PEC has issued an international tender to buy 18,000 tonnes of palm olein vegetable oil, European traders said on Tuesday.

MARKET DEVELOPMENT
24-07-2013

Malaysian Firm To Invest in Palm Oil Sector

24/07/2013 (The Nation) - The Malaysian Federal Land Development Authority (FELDA) has expressed its interest to work with Pakistan for growing palm oil in its coastal areas and help it reduce dependence on oil imports.

MARKET DEVELOPMENT
24-07-2013

BRACED States Meet with Oil Palm Producers

24/07/2013 (THISDAY Live) - The BRACED Commission, which is made up of the BRACED states of Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, Delta, is organising a meeting between the South-south states Commissioners for Agriculture with oil palm producers in the region. The meeting, which will hold at the Metropolitan Hotel in Calabar, Cross River State Wedensday is expected to underscore the regionâ€™s determination to revive and scale up oil palm production.

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