In Malaysia and Illinois, prices for palm oil and soy oil both fell to five-year lows following a current glut and expectation of further supplies from a bumper soy crop. The cheap prices are expected to boost demand, however, which Oil World says will least to stronger prices.
In Washington, Malaysian officials recently agreed to permanently exempt imports of U.S. distillers dried grains with solubles (DDGS) and corn gluten meal (CGM) from that nation’s new, more stringent sanitary and phytosanitary (SPS) and inspection regulations for agricultural commodities. The decision makes permanent a temporary exemption, granted in May, for the period from July 31 […]
In Malaysia, a research team from Universiti Teknologi MARA has embarked on a project related to gasification of biomass to produce clean producer gas. This gas mixture can be used as a fuel for internal combustion engines, turbine and fuel cell for power generation.
In Malaysia, Rabobank expects palm oil production to get back up to $786 per metric ton this year thanks to increased demand driven by blending mandates. Prices should go slightly higher in 2015. Demand is currently subdued due to better crushing margins from soy, including in India, but as those supplies run down there will […]
In Malaysia, the country has delayed implementation of its B5 mandate to December rather than July due to slow implementation of 15 blending facilities in Sabah and Sarawak and the federal territory of Labuan. When the policy is implemented, national consumption of palm oil biodiesel will double to about 500,000 metric tons annually.
In Malaysia, RAM Ratings Services sees palm oil prices averaging between $720 and $780 per metric ton during the last half of 2014, lower than its forecast for average 2014 prices of near to $800 per ton. The agency expects combined production between Malaysia and Indonesia to be 48 million tons during 2014.
In Malaysia, palm oil prices fell to a nine-month low on Friday of just under $747 per metric ton, the biggest drop in six weeks, following soy oil lower that then triggering liquidation of long positions. Prices were down 2.3% on the week and down 1.7% on the day. Indonesia’s failure to boost biodiesel consumption […]
In Malaysia, Mission NewEnergy Limited’s wholly owned Malaysian subsidiary, Mission Biofuels Sdn Bhd (MBSB), has filed a counterclaim seeking specific performance (completion of the refinery) and to recover contractual damages including liquidated damages from late delivery, interest cost, cost incurred on behalf of KNM and other wasted expenditures. More materially, MBSB is also seeking damages […]
In Malaysia, mounting tensions in Iraq have boosted the price of petroleum, making biodiesel more attractive and therefore supporting palm oil prices to nearly one-month highs. With Ramadan starting next week, the month-long holiday is also expected to support prices which closed Monday $770 per metric ton. Soy oil prices are also tracking crude, up […]
In Malaysia, the roll out of B5 will be delayed in the eastern part of the country by two months until September. Logistics and pricing issues are the main reasons for the implementation delay. Apparently the oil companies don’t yet have their tanks and other infrastructure ready to go, while transportation costs are higher in […]