Tag: palm oil

Palm and soybean oil lose a lot of ground

Palm and soybean oil lose a lot of ground

July 14, 2019 |

In Germany, UFOP reports that the vegetable oil price index of the Food and Agriculture Organization of the United Nations (FAO) dropped 12 per cent over the past marketing year and is currently at a level lower than that recorded in December 2018. The FAO vegetable price index shows the changes in international prices for […]

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Malaysian palm oil reserves top 3 million tons as production rises

Malaysian palm oil reserves top 3 million tons as production rises

July 9, 2019 |

In Malaysia, the Malaysian Reserve reports that domestic palm oil stocks are expected to pass 3 million metric tons this year thanks to production growing 9% on the year through H1 2019. Even though the country recently boosted the blending mandate to 10% for automobiles and 7% for industrial users, boosting annual palm oil demand […]

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T&E says 65% of Europe’s 2018 palm oil imports were for energy

T&E says 65% of Europe’s 2018 palm oil imports were for energy

July 4, 2019 |

In Belgium, Transport and Environment says Europeans are increasingly eating less and less palm oil and instead are inadvertently burning more and more in cars and trucks. Last year 65% of all the palm oil imported into the EU was used for energy. 53% of all palm imports was used to make biodiesel for cars […]

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Germany calling for globally-coordinated deforestation-free palm oil

Germany calling for globally-coordinated deforestation-free palm oil

July 2, 2019 |

In Germany, Xinhua news agency reports that the German government is calling for deforestation-free palm oil to be coordinated at a global level due to the fact that it has the highest yields compared to other vegetable oils and that the opportunity to expand in tropical areas is significant. The country wants palm oil that […]

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Palm oil cheaper than diesel fuel

Palm oil cheaper than diesel fuel

June 22, 2019 |

In Germany, according to UFOP, selling prices for palm oil and diesel fuel have recently converged to the same level, after the former had even been at a lower price for six months. UFOP fears that the use of palm oil will increase, because palm oil prices have tumbled to a very low level since […]

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Malaysia barters 200,000 tons-worth of palm oil with China for equipment and services

Malaysia barters 200,000 tons-worth of palm oil with China for equipment and services

June 4, 2019 |

In Malaysia, the Star newspaper reports that a barter deal for 200,000 metric tons of palm oil has been agreed with China as part of the attempts to strengthen trade between the two countries. Construction services, civilian and defense equipment as well as unspecified natural resources products will be supplied to Malaysia by China in […]

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Total to start up La Mede biorefinery in two weeks with palm oil as planned

Total to start up La Mede biorefinery in two weeks with palm oil as planned

May 29, 2019 |

In France, Reuters reports that Total’s CEO has confirmed production at the La Mede biorefinery will start up in two weeks and will use palm oil as feedstock despite protests from environmental activists and domestic farmers alike. The company plans to use loopholes in European law allowing the use of palm oil produced by smallholder […]

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Poland doesn’t agree with EU ban on palm oil for biofuels

Poland doesn’t agree with EU ban on palm oil for biofuels

May 29, 2019 |

In Malaysia, the Borneo Post newspaper reports that the Polish Ambassador to Malaysia says his country opposes the European Union’s plan to ban the use of palm oil as biofuel feedstock and as such doesn’t intend to reduce its imports, even though it is one of the EU’s largest rapeseed producers. He said that the […]

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Sime Darby launches online tool allowing everyone to trace its palm oil supply chain

Sime Darby launches online tool allowing everyone to trace its palm oil supply chain

May 28, 2019 |

In Malaysia, Sime Darby Plantation Berhad (SDP) launches ‘Crosscheck’, an open access online tool that allows everyone to trace sources of SDP’s palm oil supply down to the mill level. This latest effort by SDP represents a major step forward for the Company in its journey to create a deforestation-free supply chain. As the leading […]

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Lower palm oil stocks seen supporting Malaysian prices

Lower palm oil stocks seen supporting Malaysian prices

May 13, 2019 |

In Malaysia, the Star newspaper reports that after reaching record low levels earlier this year, palm oil should start to recover on the back of falling stocks thanks to lower production and higher exports, with more demand seen in the short term thanks to Ramadan. April stocks fell 6.6% to 2.72 million metric tons compared […]

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