Headline news on palm oil. November 2020

Read curated news that impacts the palm oil industry globally. 
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CSPO Watch News. Making it easy for you to follow the palm oil industry

"The art of knowing is knowing what to ignore" - Rumi​

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Nigeria spends over N370b on palm oil importation
Despite the restriction placed by the Federal Government on palm oil importation, the inflow of the edible product has soared by 24.5 per cent, it was learnt.

The country, findings revealed, imported 1.2million tons of crude palm oil valued at N368.8billion between 2018 and October this year.

According to the United States Department of Trade (USDT) data, the country imported 397, 000 tons in 2018 and 400,000 tons last year. TheNationNG

Malaysia - ​Govt can earn up to RM500m palm oil windfall profit levy in 2021 - MPOB
BANGI (Nov 30): The government is expected to earn palm oil windfall profit levy of about RM500 million in 2021 if the price of crude palm oil (CPO) recorded is between RM3,000 and RM3,500 per tonne compared to expectations of RM348 million a year for this year.
Malaysian Palm Oil Board (MPOB) chairman Datuk Ahmad Jazlan Yaakub said the revenue collection is not impossible if the CPO price remains above the RM3,000 per tonne level. TheEdgeMarkets

Malaysia - India’s CPO import duty cut will boost palm oil demand, says Maybank
KUALA LUMPUR, Nov 30 — India’s cut in crude palm oil (CPO) import duty to 27.5 per cent will make CPO more attractive as the commodity is set to regain some of the market shares it lost to sunflower and soybean oils this year, says Maybank Kim Eng.

It said most of the benefits will likely accrue to Indonesian origin as Malaysia’s CPO export duty exemption will expire on December 31, 2020.​ MalayMail

India's palm oil imports set to jump as tax cut lures refiners
MUMBAI/KUALA LUMPUR: India’s imports of palm oil are set to rise by as much as 100,000 tonnes a month from December after the government slashed import tax on the tropical oil, making it cheaper than rival edible oils, industry officials said on Friday.
Higher imports by India, the world’s biggest buyer of palm oil, will support benchmark Malaysian palm oil prices that hit their highest level in eight years this month, but could weigh on US soyoil futures. TimesofIndia

Malaysia - ​MPOA cautions Kraft Heinz against using 'No Palm Oil' claim
KUALA LUMPUR (Nov 28): The Malaysian Palm Oil Association (MPOA) has lodged a formal complaint and demands that Kraft Heinz stop using the “No Palm Oil” claim which goes against the spirit of the Roundtable on Sustainable Palm Oil (RSPO)’s Shared Responsibility pledge.

“A failure to reverse this violation of the RSPO Member’s Code of Conduct should result in expulsion of Kraft from the RSPO,” MPOA chief executive officer (CEO) Datuk Mohamad Nageeb Wahab said. TheEdgeMarkets

Korea - ​LG to set up new holding company for affiliates split-off
SEOUL, Nov. 26 (Yonhap) -- LG Group decided Thursday to set up another holding company as the country's fourth largest conglomerate prepares for a split-off of multiple affiliates.

LG Group said the new holding company will have LG International Corp., LG Hausys Ltd., LG MMA Corp. and Silicon Works Co. under its umbrella, and will be managed by board of directors led by Koo Bon-joon, an uncle of current LG Group Chairman Koo Kwang-mo and a younger brother of late LG Group chief Koo Bon-moo. YNA

Biofuels/ UCO - ​Refineries Are Fighting Over Used Cooking Oil And Animal Fat
The novel coronavirus has fundamentally changed the way that we consume energy and fuel around the world. The extreme and unanticipated slowdown of economy and industry has led to a sharp decrease in oil and gas demand, and has even led many to question whether we are now unequivocally headed toward “the end of oil.”​ OilPrice

Gabon - ​New biofuels plant to be set up in Gabon
Palm oil will be the main feedstock
Olam Palm is setting up a new plant producing biofuel from palm oil in Gabon.
The Singapore-based multinational firm will construct the plant in the southern part of Libreville, on an area of five ha not far from the port, after obtaining all the regulatory authorisations for the production of biofuel in the African country. BiofuelsNews

Indonesia - Papuan Pastor Questions BBC Reports on Indonesian Palm Oil Company Korindo
JAKARTA, Indonesia, Nov. 26, 2020 /PRNewswire/ -- A Catholic priest from Papua has issued a public statement to question the veracity of a British Broadcasting Corporation (BBC) report on Korindo, an Indonesian palm oil company.

The BBC report was published in both Bahasa and English with the title "The burning scar: Inside the destruction of Asia's last rainforests". Newswire

India - India cuts import tax on crude palm oil to 27.5% from 37.5%
MUMBAI (Reuters) - India on Thursday slashed import tax on crude palm oil to 27.5% from 37.5%, the government said in a statement, as New Delhi tries to bring down rising food prices.

India is the world’s biggest importer of palm oil. It imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia. REUTERS

Malaysia - ​Cargill to invest RM81m to upgrade palm oil production facility in Port Klang
KUALA LUMPUR (Nov 26): Vegetable oil refining and production outfit Cargill Palm Products Sdn Bhd will invest US$20 million (RM81 million) to expand and modernize its palm oil production facility in Port Klang which is expected to be completed and running by February 2022. 

In a statement today, Cargill said the improvements at the facility will include deploying new production technologies, upgrading equipment and adding new R&D capabilities. TheEdgeMarkets

Malaysia - ​Ministry: Palm oil export value will suffer if Malaysia stops exporting to EU
KUALA LUMPUR, Nov 26 ― Malaysia's palm oil export value to the global market would be affected if Malaysia no longer export the commodity and other palm-based products to the European Union (EU) as the region is the country's second-largest palm oil market after China, said the Ministry of Plantation Indistries and Commodities (KPPK).

Its Minister, Datuk Mohd Khairuddin Aman Razali, said the country's export of palm oil to the EU amounted to 2.8 million tonnes.​ MalayMail

Indonesia/ Malaysia - News report harms image of palm oil sector, says body
KUALA LUMPUR: The Council of Palm Oil Producing Countries (CPOPC) is crying foul over an article published by the Associated Press (AP) titled “Rape, abuses in oil palm fields linked to top beauty brands” on Nov 18.

In a statement Tuesday, the CPOPC said the few unconfirmed interviews published by the United States-based news agency in the article were selected to intentionally harm the image of the palm oil industry as a whole. DailyExpress

Indonesia/ Malaysia - CPOPC, MPOC want sexual assault allegations in palm oil industry investigated
KUALA LUMPUR (Nov 24): The secretariat of the Council of Palm Oil Producing Countries (CPOPC) says it views with grave concern the allegations of sexual harassment and assault against women in the palm oil industry as reported by the Associated Press (AP). 

“The secretariat of CPOPC will look into the allegations as a matter of urgency. The secretariat is appreciative of investigative journalism to highlight issues in the palm oil industry but questions the selective reporting by AP reporters. TheEdgeMarkets

China - ​Palm oil in China: Consumption growth expected in food sector as government moves to phase out GM soybean oil
Palm oil demand and consumption in the Chinese food sector is expected to see significant growth next year as the government clamps down on the use of genetically modified (GM) products which are especially common in the soybean area. FoodNavigatorAsia

Liberia - Energy Security and Investment: Recipe for Economic Development in Liberia
Developing economies are fast moving to achieve energy security as a recipe for economic development and sustainability. They have instituted reforms on energy policy and investment in green energy aimed towards cheap, available, and sustainable energies in consonance with the Paris-Agreementon climate change and environmental protection. Unlike Liberia, energy consumption is dominated by biomass with a share of more than 80% of the used primary energy sources with woody biomass being used for domestic cooking and heating. TheNewDawnLiberia

Indonesia reiterates commitment for greener economy at G20 Summit
Jakarta (ANTARA) - President Joko Widodo reiterated his commitment for a more sustainable and greener economy at the G20 Riyadh Leaders' Summit late on Sunday, Indonesia’s Foreign Minister Retno Marsudi stated at a post-meeting press briefing shortly thereafter.

The president stressed that Indonesia's government is set to transform the country's economy to offer greater environmental protection, Marsudi remarked. AntaraNews

Malaysia - MPOA, MPOC urge individuals with info on rape case in oil palm plantation to step forward
KUALA LUMPUR: Malaysian Palm Oil Council (MPOC) and Malaysian Palm Oil Association (MPOA) urged anyone who has evidence of criminal or wrongful activity regarding rape and abuses in oil palm plantations to lodge the relevant reports to the appropriate law enforcement agencies.

The Associated Press (AP) report on Nov 18 titled “Rape, abuses in palm oil fields linked to top cosmetics brands” has recently called attention to serious allegations of abuse against women employed or associated with the palm oil industry. TheSunDaily

Malaysia - ​MPOA slams AP report as exaggerated and anti-palm oil propaganda, says planters provide safe working conditions for female workers
KUALA LUMPUR (Nov 20): The Malaysian Palm Oil Association (MPOA) today slammed a recent news report by the Associated Press (AP), which detailed instances of sexual abuse and exploitations of female plantation workers at palm oil estates in both Malaysia and Indonesia, saying it was exaggerated and the stuff of anti-palm oil propaganda. TheEdgeMarkets

Cargill Shifts NC Plant to Provide RSPO-Certified Palm Oil
Global food corporation Cargill is significantly expanding its segregated palm oil capacity in order to help its customers meet their sustainability commitments, the company says. Previously, Cargill offered its North American customers mass-balanced sustainable palm oil, but its new offering in North America meets stricter certification standards for Roundtable for Sustainable Palm Oil (RSPO).​ EnvironmentalLeader

Indonesia - Jokowi wants businesses to partner with 2 million farmers to boost productivity and welfare
President Joko “Jokowi” Widodo has urged businesses to partner with 2 million independent farmers by 2023 to improve their productivity, as Indonesia seeks to improve its farmers’ welfare and food security. The President’s request came after the Indonesian Chamber of Commerce and Industry (Kadin) reported that it had helped 1 million independent farmers through partnerships with business entities. These partnerships reportedly helped increase farmers’ productivity by 40 percent to 76 percent and revenue by 50 percent to 200 percent. JakartaPost

India - Government may consider reducing import duty on palm oil
New Delhi | Jagran Business Desk: Rising edible oil prices have now become a matter of concern with the average prices of groundnut oil, soya bean oil, mustard oil, sunflower oil, peanut and palm oil rising by up to 20-30 per cent in the last one year.

A Times of India report quoted sources saying that the matter was discussed during a meeting of Group of Ministers headed by Home Minister Amit Shah early this week. Jagran

Global - Emissions from industry, farms and forests endanger Paris climate goals
BOGOTA (Thomson Reuters Foundation) - Many parts of the global economy, especially agriculture and the cement and steel industries, are heading in the wrong direction or cleaning up their act far too slowly to limit global warming to 1.5 degrees Celsius, researchers warned on Thursday.

At this rate, goals set in the 2015 Paris Agreement - aimed at heading off the worst impacts of wild weather and rising seas by curbing temperature rise - will not be met, said a report by the World Resources Institute (WRI) and ClimateWorks Foundation. Reuters

China - ​China to allow foreign participation in Dalian palm futures from Dec 22
BEIJING/SHANGHAI, Nov 20 (Reuters) - China’s securities market regulator said on Friday it will give foreign investors access to trade its palm oil futures contract on the Dalian Commodity Exchange from Dec. 22.

Gao Li, a spokeswoman for the China Securities Regulatory Commission, had made the announcement at a press briefing in Beijing. Reuters

US - As Trump era ends, massive new Asian trade deal leaves U.S. on the sidelines
On Sunday, 15 countries, led by the Association of Southeast Asian Nations bloc and including China, Japan and others, announced they had struck the world’s largest trade deal, covering about 30 percent of the global population and a similar share of economic output, after eight years of negotiations.

The accord, known as the Regional Comprehensive Economic Partnership (RCEP), would cut tariffs on everything from Japanese auto parts to Malaysian palm oil and solidify supply chains within a sprawling new trade zone that would be larger than the European Union in population and gross domestic product. WashingtonPost

Indonesia’s RCEP opportunities led by apparel, risks for autos
The signing of the Regional Comprehensive Economic Partnership (RCEP) trade deal by 15 countries creates the largest managed trade area in the world, following eight years of negotiations. As discussed in Panjiva’s research of Oct. 2 the deal represents a China-led attempt to define the rules of trade in Asia. It remains to be seen whether President-elect Biden will rejoin the CPTPP to attempt to provide a counterweight.

The agreement will cut tariffs on around 90% of product lines over a one to 20 year period and also brings into place a wide-range of IP and digital trade rules, though it is not as complete as other trade deals such as CPTPP. RCEP will only come into force once it has been ratified by its member states which include the ASEAN bloc, China, Japan, South Korea, Australia and New Zealand. SPGlobal

EU - ​The EU’s imported deforestation problem – a closer look
Forestry policy was on the agenda for Europe’s agriculture ministers on Monday, which made for a heated debate since Europeans are, through their lifestyles, contributing to massive deforestation worldwide. EURACTIV France reports.

The European Green Deal unveiled with great pomp and circumstance last December includes the ambitious objective of making the EU the first climate-neutral region by 2050.

While the initiative has been welcomed, it remains to be seen how the European executive will put it into practice. Among the new measures to be adopted, one is particularly awaited: the “post-2020 EU forestry strategy” that the European Commission is expected to present by early 2021. Euractiv

Pakistan - ​Thatta extraction plant starts palm oil’s local production: Wahab
KARACHI: A palm oil extraction plant being run by the Sindh’s Environment and Coastal Development departments has started production, ARY News reported on Wednesday.

Sindh’s Adviser for Environment and Coastal Development, Brrister Murtaza Wahab visited the palm oil extraction plant and the palm tree fields in Thatta district.

The Sindh government has successfully carried out the first ever pilot project of growing palm oil trees in the province in Thatta, provincial adviser said.​ AryNews

Switzerland - ​People to Determine the Fate of Indonesian Palm Oil through a Referendum
The Bundeskanzlei, the Swiss Constitutional Court, has officially approved Uniterre’s initiative to tackle Indonesian palm oil products in Switzerland.
The agricultural NGO based in Switzerland has proposed a referendum on whether palm oil products should be traded with Switzerland.

The Bundeskanzlei scheduled a referendum on palm oil for 7th March 2021. At least eight million Swiss people are to vote to determine whether or not Indonesian palm oil products may enter their country. IndonesianExpat

Biden urged to work with business, China to protect SE Asia rainforest
KUALA LUMPUR, Nov 16 (Thomson Reuters Foundation) - U.S. President-elect Joe Biden should ban imports and financing of commodities linked to deforestation in Asia-Pacific and engage with the region - including China - to reward nations tackling illegal forest clearing, environmentalists said.

Biden's election as the next U.S. leader, replacing climate-change sceptic Donald Trump, has raised expectations that protecting Southeast Asia's rainforests, seen as a vital buffer against global warming, will get more attention in Washington.​ Reuters

UK - ​Fairtrade Foundation calls on UK government to tighten its new Environment Bill to tackle illegal deforestation in supply chains
The Fairtrade Foundation has cautiously welcomed the UK government’s new Environment Bill, which includes measures prohibiting UK firms from selling products linked to illegal deforestation overseas. ConfectioneryNews

Indonesia - Jokowi on Job Creation Law: Changes Often Lead to Worry​
TEMPO.CO, Jakarta - President Joko "Jokowi" Widodo touched on the newly-enacted Law No. 11/2020 or the Job Creation Law during his remarks today, November 11, at the commemoration of the 9th Anniversary of Nasdem Party.
According to Widodo, the omnibus law is part of the change in the regulatory system which aimed at accelerating domestic industrialization. Tempo

Malaysia - ​Palm oil board hails move to legalise migrant workers
PETALING JAYA: The Malaysian Palm Oil Board (MPOB) has welcomed the move to regularise undocumented migrant workers, saying it will help solve the sector’s persistent labour shortage.

“If they go through the proper channels and are legalised and utilised to work for the industry, I think it’s a good move,” MPOB director-general Ahmad Parveez Ghulam Kadir told FMT. “It will help the industry as it is in dire need of workers.”

“If we know their number we can monitor them. Since they are already here, we can train them straight away and get them to work.​ FreeMalaysiaToday

Nepal - ​Nepalis in Malaysia to gain from amnesty
The Malaysian government has initiated a ‘recalibration’ of undocumented foreign workers in its country that will benefit Nepalis who have been working there without proper papers.

Called the ‘Illegal Immigrant Recalibration Plan’ it is a part-regularisation-part-amnesty program that will allow undocumented migrants to return to their home countries, whereas the Labour Recalibration Program will allow undocumented workers to be employed in Malaysia in four sectors facing shortages: construction, manufacturing, plantation and agriculture. NepaliTimes

India - ​India trims palm oil purchases as rising prices make soyoil attractive
MUMBAI (Reuters) - Indian edible oil refiners are trimming imports of palm oil to make space for soyoil as a rally in the price of palm due to output worries reduced the spread between the two, industry officials told Reuters.

Lower overseas purchases by the world’s biggest edible oil importer could cap palm prices, which hit an eight-year high on Friday, but will support U.S. soyoil futures trading near their highest level in four years. Reuters

India - ​Manipur government launches Oil Palm Project
Manipur Chief Minister N. Biren Singh on Thursday launched the Oil Palm Project, which he said could be an alternative to replace Jhum and poppy cultivations in the state.

The project was launched through video conferencing held at the Cabinet Hall of the Chief Minister’s Secretariat.

CM Biren Singh said the project was taken under the National Mission on oil seed and palm oil which aims to make India self-sufficient in edible oils and even export to other countries.​ IndianExpress

Indonesia - ​Pertamina begins Cilacap renewable diesel trial in Nov
Indonesian state-controlled refiner Pertamina will begin trials of renewable diesel production at its 348,000 b/d Cilacap refinery by the end of the month.

It will produce 3,000 b/d of what the company is branding D100 Green Diesel, made from refined, bleached and deodorised palm oil.

Pertamina hopes to double output to 6,000 b/d early next year, well ahead of the initial target of June 2022​. ArgusMedia

Indonesia - ​ELEMENT AI, PEMPEM COLLABORATE TO IMPROVE ACCOUNTABILITY, SUSTAINABILITY IN INDONESIAN PALM OIL INDUSTRY
ontreal-based startup Element AI and PemPem have announced a collaboration aimed to increase accountability and sustainability in the Indonesian palm oil industry through data collection and management.

Element AI’s Document Intelligence platform will be integrated into PemPem’s mobile-based enterprise resource planning technology for paper-based and informal supply chains, which offers cloud-based data collection and management in emerging commodity markets. Betakit

Tyson Foods announces programme to reduce deforestation risk
Tyson Foods has announced a Forest Protection Standard, in an effort to reduce deforestation risk in its global supply chain.

The standard will focus on four commodities in its global supply chain: cattle and beef; soy; palm oil; and pulp, paper and packaging.

The company previously partnered with Proforest – a non-profit organisation – to conduct a deforestation risk assessment across its supply chain. At the time, Tyson said the findings would inform the development of a Foods Forest Protection Policy in 2020. FoodBev

C​argill ramps up supply of segregated sustainable palm oil in North America
Cargill has announced that it is expanding its supply of segregated certified palm oil in North America to help customers meet sustainability commitments.

With the move, Cargill aims to become one of North America’s first large-scale suppliers of segregated palm oil certified by the Roundtable for Sustainable Palm Oil (RSPO).

The company’s new offering meets certification standards for RSPO, which verifies that forests are protected, and that social and environmental safeguards are met during the oil’s production and harvest. FoodBev

Chinese demand for agricultural commodities continues to support global prices: Grain Market Daily
The latest USDA world agricultural supply and demand estimates (WASDE), released yesterday evening, provide further useful insight into where markets could be going.

Global outlook for 2020/21 wheat is for increased consumption, higher exports (Russia +0.5mt and the EU +0.5Mt) and reduced stocks, compared to last month’s report. The sum of beginning stocks and production are raised 0.7Mt to 1,073Mt, with higher beginning stocks offsetting lower global production, which remains at a record. AHDB

Malaysia - ​FGV achieves 81% traceability of FFB supply chain
KUALA LUMPUR: FGV Holdings Bhd has achieved 81% of traceability to plantation of its fresh fruit bunches (FFB) to date and putting it on track to achieve 100% by 4Q of next year.

In a statement issued on Thursday, it said the traceability is crucial for FGV to ensure the FFB sourced are not linked to deforestation, planting on peat and open burning. TheStarMY

Malaysia palm oil firm FGV says it will achieve 100% traceability by 2021
[KUALA LUMPUR] FGV Holdings, the world's largest crude palm oil producer, said on Thursday it expects to achieve 100 per cent supply-chain traceability by the fourth quarter of 2021.

Supply-chain traceability allows buyers to track the source of palm fruit back to the estate it is harvested from, and ensures that the palm oil is legally sourced and produced.​ BusinessTimesSG

Biodegradable plastics from palm oil waste
A biodegradable film made from waste from the palm oil industry could be used for food packaging.

Plastic pollution is a pressing environmental concern of the twenty-first century. So is the palm oil industry, which is linked to widespread deforestation and habitat destruction. Research published in Current Research in Green and Sustainable Chemistry may be able to put a dent in both issues, with a biodegradable plastic film made from palm oil production waste.​ PhysOrg

Malaysia to Get 348M Rgt Windfall Profit Levy From Palm Sector
Malaysia will collect an estimated 348 million ringgit ($84.4 million) windfall profit levy from the palm sector this year, compared to just 256,000 ringgit in 2019, according to Plantation Industries and Commodities ministry.

The estimate is based on forecasts of prices and production of fresh fruit bunches from palm estates this year, minister Khairuddin Aman Razali said in a Wednesday statement BloombergTax

UK - ​Government response to the recommendations of the Global Resource Initiative
Coronavirus must be a wakeup call. Last month we heard that the millionth person had died – and every economy has been battered, even in the few countries that have remained free of the virus.

Like AIDS and Ebola, evidence suggests that COVID-19 is very likely the consequence of our destruction of nature. But its impacts will be dwarfed by the consequences of climate change and environmental degradation for global health, food security, resilience, and stability – unless we all take urgent action on a global scale.​ GOVUK

United Kingdom - ​Climate change: Protecting the rainforest through your shopping basket
New laws should help prevent consumers from buying food grown on rainforest land that has been illegally logged.

UK firms will be banned from selling commodities if their production breaches local laws protecting forests and other natural areas.

The change will be included in a new Environment Bill that MPswill discuss.

The aim is to stop British consumers playing an inadvertent role in an environmental crime through the goods in their supermarket basket. BBC

United Kingdom (Press Release) - ​Government sets out world-leading new measures to protect rainforests
The UK will go further than ever before to clamp down on illegal deforestation and protect rainforests, the government has confirmed today, thanks to world-leading new laws being introduced through the landmark Environment Bill (11 November).

The move coincides with the publication of a new report setting out government’s approach to tackling deforestation linked to UK demand for products such as cocoa, rubber, soya, and palm oil.  GOVUK

Malaysia to cut reliance on petroleum revenues
Malaysia is seeking to reduce its reliance on oil and gas revenues, forecasting a near 25pc fall in total petroleum revenues to 37.8bn ringgit ($9.2bn) next year as the Covid-19 pandemic continues to batter global crude prices.

The government's 2021 budget of 322.5bn ringgit provides support for the country's agriculture sector in particular, while seeking to give a much-needed boost to an economy battered by the coronavirus pandemic.​ ArgusMedia

Malaysia - Worker shortage to hamper CPO output
PETALING JAYA: A prolonged labour shortage in the oil palm plantations nationwide is expected to trigger a larger-than-expected drop in crude palm oil (CPO) output both this year and next year, say analysts.

The situation is reflected by the latest October statistics released by the Malaysian Palm Oil Board (MPOB) yesterday – with CPO production down by 7.8% to 1.72 million tonnes and palm oil stocks tumbling to its lowest since June 2017 to 1.57 million tonnes respectively. TheStarMy

USA - ​Port commission could pave way for new clean energy plant at Tuesday meeting
PORT ALLEN, La. (WAFB) - The Port of Greater Baton Rouge Commission could pave the way for a Houston-based company to build a new clean energy plant on the banks of the Mississippi River.

Though not a done deal, the commission could agree to lease the land to Gron Fuels at its meeting Tuesday night (Nov. 10). It would take 500 workers and cost as much as $500 million to build the plant.

“These dollars will flow all up the economic chain from the farmer to the chemical processor, to the ships, to the ports. It’s a win for everyone,” said Dr. Mike Strain, commissioner of the Louisiana Department of Agriculture and Forestry (LDAF).​ WAFB

Italy - Eni considers biofuels acceleration
The Italian oil and gas firm may speed up its move into biorefining
Eni has a set a target of 5mn t/yr of biofuels capacity by 2050. But, due to the strong performance of the fledgling business and what it sees as a significant demand opportunity, it may look to move quicker along this path than it had previously planned.

Its 2050 target was set out “without specifying any interim result”, says Massimo Mondazzi, chief operating officer of the firm’s Energy Evolution business. “But, considering the very good results that we are achieving, plus the significant market that we see is going to be opened up—including the biojet opportunity that could come in the next [number of] years—certainly, the… transformation could be accelerated,” he says, promising a more detailed update at Eni’s next strategy presentation. PetroleumEconomist

AAK debuts fat range with “super compound” to replace free cocoa butter in chocolate
09 Nov 2020 --- AAK has developed Illexao, a range of fats suitable for making a “super compound” that can replace up to 100 percent of the free cocoa butter in a chocolate recipe.

In turn, this will enable chocolate manufacturers to reduce formulation costs by up to 40 percent with no decline in quality or product stability, the company says. FoodIngredientsFirst

Human Rights Watch - ​Q & A on the Proposal for an EU Legislation on Mandatory Human Rights and Environmental Due Diligence
In June 2020, Human Rights Watch outlined key elements that should be incorporated in EU legislation governing mandatory human rights and environmental due diligence, including climate change.[1] Here, Human Rights Watch responds to a few ‘frequently asked questions’ posed by legislators and businesses and addresses some of the main arguments against robust, binding human rights due diligence. ​HRW

Indonesia - ​Indonesia May Cut Biodiesel Use Target as Subsidy Fund Depletes
Fitch Ratings-Singapore/Jakarta-08 November 2020: The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and sustained strength in crude palm oil (CPO) prices, Fitch Ratings says. Biodiesel is now much more expensive than regular diesel, and the subsidies drawn from an industry fund to promote biodiesel production and use have been increasing.

We estimate that the industry fund will be able to subsidise only around 8 million kilolitres (kl) of biodiesel, compared with the government's target of use of 9.6 million kl in 2020, in the absence of other measures. This suggests that Indonesia may miss its target for 2020. Also, the outlook for biodiesel demand in 2021 and CPO export levies, which contribute to the fund, is uncertain. FitchRatings

Malaysia - ​Biden may boost Malaysia-US ties, which have been lukewarm for several years
After a month of tiresome campaigning, the United States presidential election reached its peak, when a projected 161 million voters cast their votes to determine which candidate was the most capable of taking the helm of the world's superpower.

US foreign policy priorities have become one of the most sensitive topics throughout the campaign.

Although Joe Biden has outlined his foreign policy outlook, people are wondering, is the US capable of counter weighting China's growing assertive foreign policy? Will it be constructive and engaging, or stay insular in its approach? NewStraitsTimes

Italy: Ferrero sells 1 billion Nutella Biscuits in first year
Italy can't get enough of Ferrero's Nutella Biscuits.
Italians have taken to Nutella Biscuits in such a big way that Ferrero can barely keep up with demand, selling one billion of the Nutella-filled shortbread cookies in Italy since the product was launched one year ago.

Ferrero had reckoned on selling 25 million packets however in the end it has sold more than 47 million, making it the biggest-selling product in the Italian biscuit market.​ WantedInMilan

Malaysia's 2021 gross exports seen growing 2.7% after 5.2% decline in 2020
KUALA LUMPUR (Nov 6): Malaysia's gross export earnings are expected to rebound 2.7% in 2021 after a projected 5.2% decline in 2020, helped by the recovery in global trade and supply chains, according to the Ministry of Finance's (MOF) Economic Outlook 2021 report.

For 2021, the MOF said exports of manufactured goods are anticipated to grow 2.5%, supported by improved demand for electrical and electronics (E&E) and non-E&E products.​ TheEdgeMarkets

Malaysia - ​Former minister questions slashing of funds to combat anti-palm oil campaign
PETALING JAYA: Former primary industries minister Teresa Kok has called on the government to review its allocation for programmes to combat the anti-palm oil campaign.

She was shocked that the 2021 budget had reduced the amount from RM27 million in 2020 to RM20 million for next year.

In a statement, the Seputeh MP welcomed the increase in overall funds allocated for 2021, but was concerned that none of it was channelled towards improving the palm oil industry.

“The decrease in allocation for programmes against international anti-palm oil campaigns shows the government is completely unaware of the challenges we face in the international market. It shows the lack of understanding on the importance of the industry to the Malaysian economy.”​ FreeMalaysiaToday

Malaysia - ​Smallholders set to gain from incentives
PETALING JAYA: The Budget 2021 proposals for the commodities sector are mostly skewed towards enhancing the welfare of the smallholders nationwide.

According to Malaysian Palm Oil Board (MPOB) director-general Ahmad Parveez Ghulam Kadir, (pic below) the overall RM50mil incentives would help to ensure the sustainability and the competitive edge of the local palm oil industry.

On the proposed RM20mil allocation for the implementation of the Malaysian Sustainable Palm Oil (MSPO) certification, he said this is aimed at assisting the oil palm industry players particularly smallholders to expedite their MSPO certification with “the government to bear the full cost (of certification) for them.”

The MSPO certification is mandatory for all oil palm planters with operations in Malaysia. TheStarMy

Malaysia - ​Ministry ready to embrace blockchain technology in palm oil industry, says minister
KUALA LUMPUR, Nov 5 — The Ministry of Plantation Industries and Commodities (MPIC) is ready to accept any technological innovation, including blockchain technology, as long as it meets the traceability requirements of the country’s palm oil industry.
Its minister, Datuk Mohd Khairuddin Aman Razali, said blockchain technology is a big element and it is also part of the ministry’s preparation towards “Big Data” which enables it to analyse the industry development and make the right decisions.

“However, this matter needs a careful study in terms of several aspects such as infrastructure, costs, requirements, and existing legal provisions.​ MalayMail

India - ​Vitamin E from palm oil useful in boosting immune response based on studies on liver cells
A study conducted on mice liver cells revealed that Vitamin E extracted from palm oil helps in boosting the immune response of the body. Palm oil contains abundant quantities of vitamin E compounds, which include tocopherols and tocotrienols. These compounds have anti-oxidant effects, which protect cells from damage from toxic chemicals produced by metabolic processes. While tocopherol is a widely known and researched compound, there remains much to learn about tocotrienols. A team of researchers from Malaysia and Libya recently investigated the effect of tocotrienols extracted from palm oil on mice liver cells. The team investigated the expression levels of genes influenced by a transcription factor Nrf2, and the translocation of the same factor into the cellular nucleus. Nrf2 is known to upregulate phase II drug metabolism in reaction to metabolic processes. The genes activate cellular defense mechanisms. TimesOfIndia

India - ​Diwali Food Binge Seen Driving Up Palm Oil Imports by Top Buyer
Palm oil purchases by India, the largest importer, probably climbed to a three-month high in October as traders built up stockpiles before the Hindu festival of lights when consumption of fried food increases.

Inbound shipments likely rose to 779,000 tons from 643,994 tons in September, which were the smallest since June, as traders and refiners boosted purchases to meet rising demand, according to G.G. Patel, managing partner of GGN Research. BloombergTax

Ghana - ​Export Strategy to reverse Ghana’s oil palm export deficit
The Ghana Export Promotion Authority (GEPA) and the Ministry of Trade and Industry have projected that the country would realize a total amount of US$134 million from oil palm export in the next 10 years, to reverse the current deficit in the product’s export.

Through the National Export Development Strategy (NEDS) for the country’s non-traditional export sector, the Trade Ministry and GEPA are both ready to promote and support the efforts of companies in the secondary and tertiary processing of palm oil to gain footholds in and expand their share of export markets.​ GhanaWeb

USA/ Malaysia - ​The next US administration must rethink a palm oil ban that could worsen plight of smallholder farmers
The recent block on palm oil imports from Malaysian producer FGV
holdings by US Customs and Border Protection (CBP) has not only been
ineffective, but is more likely to worsen the plight of the
smallholder farmers who have been badly hit by the measures.

That block was put in place in response to investigations of labor
rights violations by the CBP, Associated Press, NGOs and other
agencies. NewsTalkFlorida

USA/ Indonesia -Analyst Says 'Biden Effect' will Keep Rupiah Strong in November
TEMPO.CO, Jakarta - TRFX Garuda Berjangka director Ibrahim Assuaibi predicted that the rupiah will have a strong trade rate against the US dollar throughout November 2020. He projected a rate of Rp14,350 per dollar, an impact of Joe Biden's strong hold in the US elections as recent updates show.

"The Biden effect, and [hopes] that Indonesians would have been vaccinated by December," Ibrahim said on Thursday, November 5.  

Ibrahim said the market would be in an optimistic spirit if Biden wins the election and how it will affect US international policies. Tempo

USA - ​Diamond Green Diesel plant to double renewable fuel capacity
Honeywell UOP has revealed that the Diamond Green Diesel facility will more than double its annual production of renewable diesel.
The company said that the facility in Norco, Louisiana, will see the completion of a second Ecofining process unit with a capacity of 30,000 barrels per day (bpd).
Diamond Green Diesel is owned by Valero Energy Corp and Darling Ingredients Inc, and is the largest commercial advanced biofuel facility in the US.
The facility converts inedible oils and other waste fats into a high-quality renewable diesel fuel. When the second unit is completed in 2021, the Diamond Green Diesel facility will have capacity to produce 675 million barrels of renewable diesel fuel each year. BiofuelsInternational

Korea - ​LG Chem forges partnership with Neste of Finland for production of eco-friendly materials
SEOUL -- LG Chem, a chemical unit of South Korea's LG Group, has signed a strategic partnership with Neste, a leading biodiesel producer based in Finland, to accelerate the production of eco-friendly materials. They agreed to seek opportunities to commercialize various products based on bio-materials.

Through its partnership with Neste, LG Chem said it has secured a stable delivery of biomaterials for the production of eco-friendly synthetic resins. Traditional synthetic resins widely used in construction are made from fossil sources and not biodegradable. Neste's bio-based raw materials are produced from vegetable oils such as renewable waste cooking oil and palm oil.​ AjuDaily

Germany - ​Land use report backs German environment minister’s strict stance on farming and biofuels
A new report on multiple-benefit strategies for the use of land that help to mitigate climate change, reduce biodiversity loss and make the global food system sustainable, has been welcomed by Germany’s environment minister as support in her efforts to introduce stricter rules for farmers and remove food and feed crop based biofuels from Germany’s future biofuel quota. Minister Svenja Schulze said that it was no secret that she wasn’t happy with the member states’ proposals for the next EU Common Agriculture Policy (CAP). “The bar was set very low on a European level and member states have a large scope in their implementation. This is where we have to raise ambition above the set minimum level,” Schulze said at a press conference. CleanEnergyWire

GlaxoSmithKline - ​GSK goes green: pharma giant commits to fixing health of the planet
DRUG-maker GlaxoSmithKline today launched ambitious new green goals and a commitment to have a “net positive” impact on the planet by 2030.

The London-based pharmaceuticals giant, which employs just under 100,000 people in 90 countries, will equip all sales staff with electric vehicles, use 100% renewable energy at all sites and commit to zero waste across its complex supply chain. StandardUK

Palm oil - Vitamin E, Extracted From Palm Oil, May Help Boost Immunity - How You Can Add It To Your Diet
Palm oil is one edible oil that is known for its versatile usages. Extracted from the fruits of oil palm tree, it is loaded with several nutrients that may help prevent vitamin A deficiency, ageing, and manage cholesterol and blood pressure. It is a storehouse of vitamin E and is known to promote skin health, hair health and more. In fact, palm oil is one of the most economical sources of vitamin E. Adding to its benefits; a recent study has found that the vitamin E, extracted from palm oil, may help boost immune response in the body. The research, conducted on mice liver cells, was published in the journal 'Current Pharmaceutical Biotechnology'. NDTVFood

India - ​FGV expands palm oil seed market in India, targeting to sell 1.5 million seeds by 2021
KUALA LUMPUR, Nov 4 — FGV Holdings Bhd (FGV) is expanding its presence in India’s oil palm seed market by targeting to sell another 1.5 million seeds by 2021 following growing market demand for premium oil palm seeds in the country.

The group said to date, FGV has secured sales of one million oil palm seeds to India through the FGV’s Yangambi ML161 brand, the number one oil palm planting material with a 43 per cent market share in Malaysia.​ MalayMail

Nigeria - Budget 2021 - Nigeria's Proposed Funding for Oil Palm Research Highest in 10 Years
Nigeria's oil palm research will receive its biggest funding in 10 years if the 2021 budget is passed into law, an analysis of federal budgets since 2010 has shown.

The 2021 Appropriation Bill was submitted on October 8 by President Muhammadu Buhari to the National Assembly and has passed the second reading at the Senate. AllAfrica

Indonesian palm market factoring $120/mt export levy into CPO offers
Singapore — Sellers of Indonesian crude palm oil have started factoring in an export levy of $120/mt, though an official announcement has not yet been made, sources said Nov. 3.

The local Indonesian PTP tender was also accepted at $791.97/mt for 1,500 mt, factoring in the higher export levy at $120/mt, according to broker reports. S&PGlobal

Indonesia - ​Indonesian President Quietly Signs Divisive Bill Into Law Overnight
BANGKOK — Late on Monday night, President Joko Widodo of Indonesia quietly signed into law a divisive stimulus bill that has sent hundreds of thousands of Indonesians to the streets in protest.

The omnibus law was first pitched as a vital jobs-creation effort that would resuscitate Southeast Asia’s largest economy, slashing red tape and clearing a thicket of regulations that have discouraged investment. NewYorkTimes

New Zealand - Fonterra makes environmental progress but underperforms in gender and ethnic diversity
Fonterra has improved its performance in three key environmental metrics but is falling short when it comes to women and ethnic diversity in senior leadership as well as sourcing palm oil from credible organisations, its 2020 sustainability report says.

The New Zealand dairy co-operative says for the first time since its annual sustainability report launched in 2017, it’s improved on greenhouse gas emissions, water use and solid waste sent to landfill. StuffNZ

Nigeria - Edo communities accuse Okomu Oil of land grabbing
Some communities where Okomu Palm Oil Plc allegedly acquired farmland to expand its operations have cried out over an alleged forceful occupation of their land. They alleged that the action of the company has rendered them homeless and pleaded with the relevant authorities to come to their aid. VanguardNG

EU - Palm, soy under further pressure in EU biofuels mix
The future make up of biofuels in the EU is becoming clearer, with recent regulatory moves by some countries suggesting the bloc could meet its target to phase out palm oil and soy oil from the slate ahead of schedule. This should support EU demand for biodiesel made from domestically-grown rapeseed oil, which trades at a premium to imports.​ ArgusMedia

Indonesia - ​Palm oil certification brings mixed outcomes to neighboring communities
Research led by the University of Kent's Durrell Institute of Conservation and Ecology (DICE) has found that Indonesian communities living near oil palm plantations are impacted in different ways, both positive and negative, during plantation development and certification. Phys.org

Malaysia - Further Arrests Over Palm Oil Mill River Pollution
Police have arrested 11 individuals, including a factory manager, in a raid on a palm oil processing factory in Rawang, Selangor, over the pollution of Sungai Kundang. Three locals and eight migrant workers were detained. Earlier today, three men, including a company director, were also remanded to facilitate investigations into the pollution at Sungai Kundang. Preliminary investigation by the Selangor Water Management Authority found that the pollution was caused by a biodiesel substance, suspected to be from the Kundang Jaya industrial area. Ooskanews

Nigeria - ​Solidaridad trains women, youths on oil palm nursery management, others
Solidaridad West Africa has trained 48 women and youths on oil palm nursery establishment, management, and agri-business academy in Enugu to tackle the challenges of low yield due to aged oil palm trees.

The training conducted in Enugu, was declared opened by the State’s Commissioner for Agriculture, Enugu State, Matthew Idu.

Idu noted that Solidaridad’s effort will return Nigeria to its glory days in the production of palm oil where the crop contributed to the gross domestic product of the country.

He lamented that oil palm used to be one of the major sources of revenue for the government but was neglected after the discovery of crude oil.​ TheNationOnlineNG

Malaysia - ​MPOA welcomes move to issue temporary work permits for undocumented migrants 
THE government’s decision to issue temporary work permits to illegal foreign workers will assist plantation players and smallholders in cushioning the labour shortage impact, which is resulting in 20-30 per cent potential production not being realised.

The Malaysian Palm Oil Association said by resolving this particular issue, it shall allow the Industry to optimise returns from the current bullish prices, as well as help the government in increasing its tax revenue.

“The industry fully appreciates and lauds the initiative announced by Prime Minister Tan Sri Muhyiddin Yassin recently that the government is considering to issue temporary work permits to illegal foreign workers in the country to overcome the shortage of workers in the oil palm and rubber industries.​ TheMalaysianReserve

Malaysia - ​Blockchain technology adds great value to palm oil production
KUALA LUMPUR, Nov 2 ­— Palm oil industrial players should keep an open mind and explore today’s latest technology, namely the blockchain technology that can offer great value to and differentiate Malaysia’s palm oil production as sustainable and credible.

“The application of blockchain technology in the Malaysian palm oil industry not only provides an unprecedented level of trust in the supply chain, but also contributes to protecting the working conditions and legal employment of field workers and gives plantations rich data on crop harvesting,” managing partner of Lardi & Partner Consulting GmbH, Strategy and Business Advisory, Kamales Lardi said.​ MalayMail

Sri Lanka - (Opinion) ​Where have all the coconuts gone? Surely, not out of the country?
Fresh coconuts have disappeared from most of the retail outlets in the country by last week. In some places, they are available but sold through the backdoor as if the traders are dealing in contraband. Worse, they are sold at prices ranging from Rs. 100 to 120 per nut. That is close to double the price set by the Government for average sized coconuts. 

But the customers are treated to a double jeopardy here. Apart from the high prices, they get partly mature coconuts plucked before they reach full maturity. Hence, they do not get value for money because the cream content in those coconuts is much less. FinancialTimesLK

Bangladesh - ​No signs of reduction in essential commodity prices
No vegetables sold for less than Tk40 per kilo

There is no sign of decrease in prices of essential cooking ingredients, including potatoes, onions, eggs, ginger, edible oil and rice - which continue to remain out of the customers' reach.

Although prices of some vegetables reduced a bit over the week, most of the other items were sold in prices similar to last week. DhakaTribune

Pakistan - ​Soyabean oil costing $46.839m, palm $579.006m imported in 3 months
ISLAMABAD   -  Soyabean oil worth $46.839 million and palm oil worth $579.006 million was imported during first quarter of current financial year as compared to the imports of the corresponding period of last year. During the period under review, import of soyabean grew by 46.06%, where as palm oil imports into the country increased by 59.76% respectively, according the data of Pakistan Bureau of Statistics. The imports of above mentioned commodities during first quarter of last financial year were recorded at $32.069 million and $362.431 million respectively, it added.​ TheNationPK