July 2022. Top News on Palm Oil
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Read curated news that impacts the global palm oil industry.
CSPO Watch News. Making it easy for you to follow the palm oil industry
CSPO Watch News. Making it easy for you to follow the palm oil industry
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Malaysia and India to deepen cooperation on palm oil
The Malaysian Palm Oil Council (MPOC) and the Indian Vegetable Oil Producers Association (IVPA) have signed a Memorandum of Understanding (MoU) to cooperate further on palm oil use and development, the IVPA said in a press release issued Thursday.
The MoU, which was signed on the sidelines of the ongoing Malaysia International Agricommodity Expo & Summit (MIACES) 2022 in Kuala Lumpur, is expected to expand cooperation in areas of mutual interest and broadly promote the development and use of Malaysian palm oil and Malaysian Sustainable Palm Oil (MSPO) certified palm oil.
Areas of cooperation covered in the MoU include Indian consumer education, the promotion of MSPO in India, business, technical and research exchange between the two countries’ palm oil sectors, supporting the technical sourcing for India’s “Atmanirbhar Bharat” plans and the assistance in the development of India’s palm oil industry.
Sudhakar Desai, President of IVPA said that the MoU would "go a long way in addressing the issues related to palm oil promotion, sustainability, research and development and right policy advocacy and will create a platform for regular exchange of ideas for the benefit of all stakeholders.”
Malaysia exported approximately 1.4 million mt of palm oil to India between January-June this year, according to data from the Malaysian Palm Oil Board (MPOB).
IVPA’s Desai also added that India is expected to import around 3.8-4 million mt of palm oil from Malaysia in 2022. Agri Census
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India and Malaysia close trading ties as buyers capitalize on cheaper palm oil
29 Jul 2022 --- India plans to acquire almost five million metric tons of palm oil from Malaysia until the end of the year. This is a 20% increase compared with the first six months of 2022 when palm oil prices skyrocketed and marked price records. Now, cheaper oil is set to flood Asian markets, as inventories are full to the brim.
Indonesia’s short-lived palm oil export ban had long-lasting effects on stockpiles, as the country now struggles to reduce its reserves while keeping prices from falling too steeply.
Indonesia holds so many reserves that it is implementing a mandatory 35% palm oil mix for its biodiesel, up from the current 30% blend.
While Indonesia was banning exports, Malaysia set out to capture market share in the palm oil market by reducing taxes on its exports and boosting production. The country is reaping the benefits of being a stable and reliable business partner.
“The supply chain was maintained very well and Malaysia played a crucial role in the edible oil security for India’s demand in the last two months,” says Sudhakar Desai, president of the Indian Vegetable Oil Producers’ Association (IVPA).
“Currently, India’s import for palm oil is about eight million tons and we do expect the Malaysian market share to continue to be 55% out of it,” he notes. Food Ingredients First
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Malaysia Launches Multi Platform Campaign to Promote the Goodness of Its Palm Oil
KUALA LUMPUR: The Ministry of Plantation Industries and Commodities has launched a campaign to correct misinformation and to counter anti-palm oil narratives by the West.
Its minister, Datuk Zuraida Kamaruddin said the “Global Movement to Champion the Goodness of Palm Oil” is a digital, multimedia campaign targeted at a global audience, predominantly governments, agencies, stakeholders and media from the West.
“The concerned parties are those who have resorted to anti-palm oil narratives with a view of imposing sanctions on the commodity.
“We hope to achieve our goals with the production of an hour-long documentary; 12 explanatory short video clips, and an intensive media engagement exercise,” she said in a statement today.
The campaign was launched on Tuesday in conjunction with the launch of the Malaysia International Agri-commodity Expo & Summit (MIACES) by the Prime Minister.
Zuraida also pointed out that the campaign will also be carried out on online platforms such as social media like Facebook, Twitter, Instagram, YouTube and MPIC’s website. The Sun Daily
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Malaysia ready to help Indonesia address high palm oil inventories
KUALA LUMPUR, July 29 ― Malaysia is ready to assist Indonesia in dealing with its high palm oil inventories, said Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin.
She said a working committee has been set up to assist Indonesia ― the world’s biggest palm oil producer ― in reducing its stock.
“As members of the Council of Palm Oil Producing Countries (CPOPC), we have to help each other,” she said at the closing ceremony of the Malaysia International Agricommodity Expo and Summit (MIACES) 2022 last night. Malay Mail/ Bernama
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Indonesia Resumes Sending Workers to Malaysia After Agreement
(Bloomberg) -- Indonesia will resume sending workers to Malaysia on Aug. 1, ending a two-week halt after the both sides agreed to resolve labor issues.
Malaysia conceded a number of problems that prevented the country from complying with bilateral agreements on the protection and hiring of Indonesian workers, according to a statement from the Indonesian manpower ministry.
Ministers from the two countries met on Thursday to discuss the issue and signed a joint statement to ensure existing labor accords are implemented, allowing the Indonesian government to move toward ending its suspension.
Indonesia to Temporarily Halt Sending More Workers to Malaysia
Malaysia, which relies on migrant labor from countries including Indonesia, continues to struggle with a shortage of workers in key sectors including palm oil, manufacturing and semiconductors. Bloomberg
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Malaysia to produce hydrotreated vegetable oil, SAF with JV with Chinese firms
In Malaysia, The Star reported that the country’s Primer Minister Ismail Sabri Yaakob noted that Malaysia will soon produce its own hydrotreated vegetable oil (HVO) and sustainable aviation fuel following a joint venture cooperation between local companies and Chinese government-owned firms.
“For palm products, companies owned by the Chinese government will collaborate with local Malaysian companies as well as the Malaysian Palm Oil Board (MPOB) to produce hydrotreated vegetable oil (HVO) and sustainable aviation fuel in Malaysia,” The Star quoted the official as saying.
The minister also highlighted that the joint venture was expected to generate over 1,000 working opportunities.
“The establishment of the first HVO and SAF factories will be among the main initiatives to drive the country’s palm oil sector towards a high technology and value-added industry,” he said.
According to the report, the Chinese firms that would be part of the JV are Shanxi Construction Investment Group Co Ltd (SCIG) and the Institute of Coal Chemistry, Chinese Academy of Sciences (ICC-CAS), while the Malaysian firms will be Pengerang Maritime Industries and Sabah Oil and Gas Development Corporation. Biofuels Digest
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Bolivia further developing palm oil for biodiesel and HVO production
In Bolivia, Eju reports President Arce announced on Saturday that the Bolivian Fiscal Petroleum Deposits (YPFB), companies dedicated to oil production and the Ministry of Rural Development undertook the production of African palm in various regions of the country to use it as a raw material in the production of biodiesel. He also announced that production will begin next month at an HVO pilot plant and by August next year a much larger plant will be built to cover 50 or 55% of the country’s demand. Biofuels Digest
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The Malaysian Palm Oil Council (MPOC) and the Indian Vegetable Oil Producers Association (IVPA) have signed a Memorandum of Understanding (MoU) to cooperate further on palm oil use and development, the IVPA said in a press release issued Thursday.
The MoU, which was signed on the sidelines of the ongoing Malaysia International Agricommodity Expo & Summit (MIACES) 2022 in Kuala Lumpur, is expected to expand cooperation in areas of mutual interest and broadly promote the development and use of Malaysian palm oil and Malaysian Sustainable Palm Oil (MSPO) certified palm oil.
Areas of cooperation covered in the MoU include Indian consumer education, the promotion of MSPO in India, business, technical and research exchange between the two countries’ palm oil sectors, supporting the technical sourcing for India’s “Atmanirbhar Bharat” plans and the assistance in the development of India’s palm oil industry.
Sudhakar Desai, President of IVPA said that the MoU would "go a long way in addressing the issues related to palm oil promotion, sustainability, research and development and right policy advocacy and will create a platform for regular exchange of ideas for the benefit of all stakeholders.”
Malaysia exported approximately 1.4 million mt of palm oil to India between January-June this year, according to data from the Malaysian Palm Oil Board (MPOB).
IVPA’s Desai also added that India is expected to import around 3.8-4 million mt of palm oil from Malaysia in 2022. Agri Census
--------
India and Malaysia close trading ties as buyers capitalize on cheaper palm oil
29 Jul 2022 --- India plans to acquire almost five million metric tons of palm oil from Malaysia until the end of the year. This is a 20% increase compared with the first six months of 2022 when palm oil prices skyrocketed and marked price records. Now, cheaper oil is set to flood Asian markets, as inventories are full to the brim.
Indonesia’s short-lived palm oil export ban had long-lasting effects on stockpiles, as the country now struggles to reduce its reserves while keeping prices from falling too steeply.
Indonesia holds so many reserves that it is implementing a mandatory 35% palm oil mix for its biodiesel, up from the current 30% blend.
While Indonesia was banning exports, Malaysia set out to capture market share in the palm oil market by reducing taxes on its exports and boosting production. The country is reaping the benefits of being a stable and reliable business partner.
“The supply chain was maintained very well and Malaysia played a crucial role in the edible oil security for India’s demand in the last two months,” says Sudhakar Desai, president of the Indian Vegetable Oil Producers’ Association (IVPA).
“Currently, India’s import for palm oil is about eight million tons and we do expect the Malaysian market share to continue to be 55% out of it,” he notes. Food Ingredients First
--------
Malaysia Launches Multi Platform Campaign to Promote the Goodness of Its Palm Oil
KUALA LUMPUR: The Ministry of Plantation Industries and Commodities has launched a campaign to correct misinformation and to counter anti-palm oil narratives by the West.
Its minister, Datuk Zuraida Kamaruddin said the “Global Movement to Champion the Goodness of Palm Oil” is a digital, multimedia campaign targeted at a global audience, predominantly governments, agencies, stakeholders and media from the West.
“The concerned parties are those who have resorted to anti-palm oil narratives with a view of imposing sanctions on the commodity.
“We hope to achieve our goals with the production of an hour-long documentary; 12 explanatory short video clips, and an intensive media engagement exercise,” she said in a statement today.
The campaign was launched on Tuesday in conjunction with the launch of the Malaysia International Agri-commodity Expo & Summit (MIACES) by the Prime Minister.
Zuraida also pointed out that the campaign will also be carried out on online platforms such as social media like Facebook, Twitter, Instagram, YouTube and MPIC’s website. The Sun Daily
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Malaysia ready to help Indonesia address high palm oil inventories
KUALA LUMPUR, July 29 ― Malaysia is ready to assist Indonesia in dealing with its high palm oil inventories, said Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin.
She said a working committee has been set up to assist Indonesia ― the world’s biggest palm oil producer ― in reducing its stock.
“As members of the Council of Palm Oil Producing Countries (CPOPC), we have to help each other,” she said at the closing ceremony of the Malaysia International Agricommodity Expo and Summit (MIACES) 2022 last night. Malay Mail/ Bernama
--------
Indonesia Resumes Sending Workers to Malaysia After Agreement
(Bloomberg) -- Indonesia will resume sending workers to Malaysia on Aug. 1, ending a two-week halt after the both sides agreed to resolve labor issues.
Malaysia conceded a number of problems that prevented the country from complying with bilateral agreements on the protection and hiring of Indonesian workers, according to a statement from the Indonesian manpower ministry.
Ministers from the two countries met on Thursday to discuss the issue and signed a joint statement to ensure existing labor accords are implemented, allowing the Indonesian government to move toward ending its suspension.
Indonesia to Temporarily Halt Sending More Workers to Malaysia
Malaysia, which relies on migrant labor from countries including Indonesia, continues to struggle with a shortage of workers in key sectors including palm oil, manufacturing and semiconductors. Bloomberg
--------
Malaysia to produce hydrotreated vegetable oil, SAF with JV with Chinese firms
In Malaysia, The Star reported that the country’s Primer Minister Ismail Sabri Yaakob noted that Malaysia will soon produce its own hydrotreated vegetable oil (HVO) and sustainable aviation fuel following a joint venture cooperation between local companies and Chinese government-owned firms.
“For palm products, companies owned by the Chinese government will collaborate with local Malaysian companies as well as the Malaysian Palm Oil Board (MPOB) to produce hydrotreated vegetable oil (HVO) and sustainable aviation fuel in Malaysia,” The Star quoted the official as saying.
The minister also highlighted that the joint venture was expected to generate over 1,000 working opportunities.
“The establishment of the first HVO and SAF factories will be among the main initiatives to drive the country’s palm oil sector towards a high technology and value-added industry,” he said.
According to the report, the Chinese firms that would be part of the JV are Shanxi Construction Investment Group Co Ltd (SCIG) and the Institute of Coal Chemistry, Chinese Academy of Sciences (ICC-CAS), while the Malaysian firms will be Pengerang Maritime Industries and Sabah Oil and Gas Development Corporation. Biofuels Digest
--------
Bolivia further developing palm oil for biodiesel and HVO production
In Bolivia, Eju reports President Arce announced on Saturday that the Bolivian Fiscal Petroleum Deposits (YPFB), companies dedicated to oil production and the Ministry of Rural Development undertook the production of African palm in various regions of the country to use it as a raw material in the production of biodiesel. He also announced that production will begin next month at an HVO pilot plant and by August next year a much larger plant will be built to cover 50 or 55% of the country’s demand. Biofuels Digest
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Indonesian Minister Luhut Lauds China Pledge to Import 1 Million CPO from Indonesia
TEMPO.CO, Jakarta - The Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan in an official statement on Wednesday claimed that China is committed to increasing its imports of Indonesian crude palm oil (CPO) up to one million tons. This was stated in the bilateral meeting between President Joko “Jokowi” Widodo and Chinese Prime Minister Li Keqiang in Beijing.
“Thank you, President Xi Jinping and Prime Minister Li Keqiang for the support and commitment to import Indonesian palm oil,” the coordinating minister wrote in a statement on July 27. “We are hopeful for China to continue to increase palm oil trade with Indonesia.”
Luhut asserted that China’s pledge towards additional imports will increase the quantity of Indonesian CPO export and is hoped to increase the prices of palm oil fresh fruit bunches (FFB) at the farmers' level. Tempo
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Indonesia's palm oil exports gather pace after levy removal - official
JAKARTA : Indonesia's crude palm oil (CPO) exports are picking up pace after the government waived its export levy to ease a supply glut, a senior Finance Ministry official said on Wednesday.
The world's biggest producer of the vegetable oil has removed an export levy for all palm oil products effective July 15 to August 31.
"CPO exports have increased, reaching between 100,000 tonnenes to 140,000 tonnenes per day. Prior to July 15, it was 60,000 tonnenes to 90,000 tonnenes per day," finance ministry's head of customs Askolani told a media briefing.
The measure is part of government efforts to encourage shipments after a three-week export ban earlier this year caused stocks to balloon and prices of fresh palm fruit bunches (FFB) to slump. [J9N2UK02N]
The government had banned exports of palm oil to control cooking oil prices at home. But since then, the government has been urged to accelerate exports as the industry complained that high inventories were preventing mills from buying more palm fruits from farmers. Channel News Asia
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Malaysia, Indonesia exports surge as energy and food prices soar
China slowdown and U.S. rate hikes loom over robust ASEAN trade
SINGAPORE -- Historically high food and energy prices are driving brisk exports in Southeast Asia's commodity-rich nations, though a slowing Chinese economy poses a risk to the region's growth.
Malaysia's exports climbed 39% on the year in June to a monthly record of 146.1 billion ringgit ($32.7 billion), according to the latest government figures.
Energy exports were especially robust, with liquefied natural gas 150% higher by value than a year earlier and crude oil up by 80%. Palm oil and palm oil-based agricultural products, the third-largest category, rose 52%. Russia's invasion of Ukraine triggered price surges for each of these products, fueling the all-time high.
Indonesian exports jumped 41% in June to $26 billion. The country, the largest exporter of palm oil worldwide, had eased its export ban on the commodity imposed in April. Indonesia's mining industry doubled its exports last month, indicating that palm oil and energy drove the increase, similar to Malaysia. Nikkei Asia
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Indonesia agrees to lift freeze on sending migrant workers to Malaysia
KUALA LUMPUR (Reuters) -Indonesia has agreed to lift a freeze on sending its migrant workers to Malaysia effective August 1, after the neighbours ironed out concerns surrounding workers' rights, according to statements from both countries on Thursday.
The entry of migrant workers will help Malaysia - the world's second-largest palm oil producer and a key link in the global supply chain - ease a shortage of some 1.2 million workers.
Indonesia this month temporarily stopped sending its citizens to work in Malaysia, including thousands recruited for the plantation sector, citing a breach in an agreement aimed at improving the protection of domestic workers employed in Malaysian households.
Jakarta agreed to resume sending its workers after both countries agreed to trial a single channel to facilitate the recruitment and entry of Indonesian workers, Malaysia's Human Resources Minister M. Saravanan said in a statement. Reuters/ Yahoo
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Malaysia-New palm oil seedlings developed by MPOB to dramatically increase yield per hectare
CPS1 is a superior clone, producing higher oil yield compared to the seed-derived palms (DxP) and possesses the fresh fruit bunches (FFB) of more than 30 tonnes per hectare per year and oil to bunch of 30 percent. The potential oil yield ranges from eight to 10 tonnes per hectare per year-. In addition, its features of high oil yield, very low mantling rate and ease of cloning has encouraged MPOB to use it as MPOB's standard clone.
Meanwhile, our CPS2 is the clone designated for high-density planting programme, which is 200 palm per ha compared to the normal density planting of 148 palm per ha due to its short rachis length. Hypothetically, a trial implemented with this CPS2 would perform FFB of 32.7 tonnes per ha per year- and oil yield of 8.86 tonnes per ha per year. Owing to its extraordinary features, MPOB commercialised CPS2 in 2018.
On the other hand, CPS3, our latest addition to the CPS, showed that yields from field evaluation of this clone for seven consecutive years, when planted at a normal density of 136/ha, recorded an impressive 37.5 percent oil to bunch and yield of oil per hectare of 11.32 tonnes per hectare per year. Therefore, CPS3 as a high yielding clone, is a material of choice for estates and millers. CPS3 was developed through a collaboration with Kulim (Malaysia) Berhad and was introduced during the MPOB Transfer of Technology Webinar 2020. New Straits Times
--------
Cameroon: African Development Fund approves €63 million loan to boost food security
On 15 July 2022, the Board of Directors of the African Development Fund approved a loan of €62.99 million to Cameroon. The funding will enable the country to increase production of major agricultural crops (rice, maize, sorghum, millet, soybean, potato, palm oil and garden crops) in order to mitigate the impact of the food crisis caused by the war between Russia and Ukraine.
“This funding will allow the government to urgently procure the agricultural inputs needed for the current and future agricultural seasons and provide advice to farmers, while providing a boost to the reforms essential for improving governance of the agricultural sector,” explained Serge N’Guessan, the African Development Bank Group’s Director General for the Central Africa Region, based in Yaoundé.
The financing is provided by the African Development Fund, the concessional window of the African Development Bank Group. African Business
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Nigeria-Presco Shareholders Gets N7.5bn Dividend for 2021 Financial Year
Shareholders of Presco Plc have approved payment of 660kobo per share final dividend, amounting to N6.6Billion for the financial year ended December 31, 2021.
This brought the total dividends paid by the company for the year to N750kobo per share, which amounts to N7.5Billion, an increase of 380 per cent over the 2020 financial year. The company had paid an interim dividend of 100kobo per share, amounting to N1Billion.
Speaking at the 29th Annual General Meeting (AGM), held by proxy at Obaretin Estate, Ikpoba-Okha Local Government Area, Edo State, Shareholders commended the board, management and staff for sustaining the company on the path of growth despite various challenges. This Day Live
TEMPO.CO, Jakarta - The Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan in an official statement on Wednesday claimed that China is committed to increasing its imports of Indonesian crude palm oil (CPO) up to one million tons. This was stated in the bilateral meeting between President Joko “Jokowi” Widodo and Chinese Prime Minister Li Keqiang in Beijing.
“Thank you, President Xi Jinping and Prime Minister Li Keqiang for the support and commitment to import Indonesian palm oil,” the coordinating minister wrote in a statement on July 27. “We are hopeful for China to continue to increase palm oil trade with Indonesia.”
Luhut asserted that China’s pledge towards additional imports will increase the quantity of Indonesian CPO export and is hoped to increase the prices of palm oil fresh fruit bunches (FFB) at the farmers' level. Tempo
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Indonesia's palm oil exports gather pace after levy removal - official
JAKARTA : Indonesia's crude palm oil (CPO) exports are picking up pace after the government waived its export levy to ease a supply glut, a senior Finance Ministry official said on Wednesday.
The world's biggest producer of the vegetable oil has removed an export levy for all palm oil products effective July 15 to August 31.
"CPO exports have increased, reaching between 100,000 tonnenes to 140,000 tonnenes per day. Prior to July 15, it was 60,000 tonnenes to 90,000 tonnenes per day," finance ministry's head of customs Askolani told a media briefing.
The measure is part of government efforts to encourage shipments after a three-week export ban earlier this year caused stocks to balloon and prices of fresh palm fruit bunches (FFB) to slump. [J9N2UK02N]
The government had banned exports of palm oil to control cooking oil prices at home. But since then, the government has been urged to accelerate exports as the industry complained that high inventories were preventing mills from buying more palm fruits from farmers. Channel News Asia
--------
Malaysia, Indonesia exports surge as energy and food prices soar
China slowdown and U.S. rate hikes loom over robust ASEAN trade
SINGAPORE -- Historically high food and energy prices are driving brisk exports in Southeast Asia's commodity-rich nations, though a slowing Chinese economy poses a risk to the region's growth.
Malaysia's exports climbed 39% on the year in June to a monthly record of 146.1 billion ringgit ($32.7 billion), according to the latest government figures.
Energy exports were especially robust, with liquefied natural gas 150% higher by value than a year earlier and crude oil up by 80%. Palm oil and palm oil-based agricultural products, the third-largest category, rose 52%. Russia's invasion of Ukraine triggered price surges for each of these products, fueling the all-time high.
Indonesian exports jumped 41% in June to $26 billion. The country, the largest exporter of palm oil worldwide, had eased its export ban on the commodity imposed in April. Indonesia's mining industry doubled its exports last month, indicating that palm oil and energy drove the increase, similar to Malaysia. Nikkei Asia
--------
Indonesia agrees to lift freeze on sending migrant workers to Malaysia
KUALA LUMPUR (Reuters) -Indonesia has agreed to lift a freeze on sending its migrant workers to Malaysia effective August 1, after the neighbours ironed out concerns surrounding workers' rights, according to statements from both countries on Thursday.
The entry of migrant workers will help Malaysia - the world's second-largest palm oil producer and a key link in the global supply chain - ease a shortage of some 1.2 million workers.
Indonesia this month temporarily stopped sending its citizens to work in Malaysia, including thousands recruited for the plantation sector, citing a breach in an agreement aimed at improving the protection of domestic workers employed in Malaysian households.
Jakarta agreed to resume sending its workers after both countries agreed to trial a single channel to facilitate the recruitment and entry of Indonesian workers, Malaysia's Human Resources Minister M. Saravanan said in a statement. Reuters/ Yahoo
--------
Malaysia-New palm oil seedlings developed by MPOB to dramatically increase yield per hectare
CPS1 is a superior clone, producing higher oil yield compared to the seed-derived palms (DxP) and possesses the fresh fruit bunches (FFB) of more than 30 tonnes per hectare per year and oil to bunch of 30 percent. The potential oil yield ranges from eight to 10 tonnes per hectare per year-. In addition, its features of high oil yield, very low mantling rate and ease of cloning has encouraged MPOB to use it as MPOB's standard clone.
Meanwhile, our CPS2 is the clone designated for high-density planting programme, which is 200 palm per ha compared to the normal density planting of 148 palm per ha due to its short rachis length. Hypothetically, a trial implemented with this CPS2 would perform FFB of 32.7 tonnes per ha per year- and oil yield of 8.86 tonnes per ha per year. Owing to its extraordinary features, MPOB commercialised CPS2 in 2018.
On the other hand, CPS3, our latest addition to the CPS, showed that yields from field evaluation of this clone for seven consecutive years, when planted at a normal density of 136/ha, recorded an impressive 37.5 percent oil to bunch and yield of oil per hectare of 11.32 tonnes per hectare per year. Therefore, CPS3 as a high yielding clone, is a material of choice for estates and millers. CPS3 was developed through a collaboration with Kulim (Malaysia) Berhad and was introduced during the MPOB Transfer of Technology Webinar 2020. New Straits Times
--------
Cameroon: African Development Fund approves €63 million loan to boost food security
On 15 July 2022, the Board of Directors of the African Development Fund approved a loan of €62.99 million to Cameroon. The funding will enable the country to increase production of major agricultural crops (rice, maize, sorghum, millet, soybean, potato, palm oil and garden crops) in order to mitigate the impact of the food crisis caused by the war between Russia and Ukraine.
“This funding will allow the government to urgently procure the agricultural inputs needed for the current and future agricultural seasons and provide advice to farmers, while providing a boost to the reforms essential for improving governance of the agricultural sector,” explained Serge N’Guessan, the African Development Bank Group’s Director General for the Central Africa Region, based in Yaoundé.
The financing is provided by the African Development Fund, the concessional window of the African Development Bank Group. African Business
--------
Nigeria-Presco Shareholders Gets N7.5bn Dividend for 2021 Financial Year
Shareholders of Presco Plc have approved payment of 660kobo per share final dividend, amounting to N6.6Billion for the financial year ended December 31, 2021.
This brought the total dividends paid by the company for the year to N750kobo per share, which amounts to N7.5Billion, an increase of 380 per cent over the 2020 financial year. The company had paid an interim dividend of 100kobo per share, amounting to N1Billion.
Speaking at the 29th Annual General Meeting (AGM), held by proxy at Obaretin Estate, Ikpoba-Okha Local Government Area, Edo State, Shareholders commended the board, management and staff for sustaining the company on the path of growth despite various challenges. This Day Live
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China invests RM6b for hydro treated vegetable oil and sustainable aviation fuel in Malaysia
KUALA LUMPUR: The government will continue to encourage foreign direct investment (FDI) to diversify high-value agri-commodity products, said Prime Minister Datuk Seri Ismail Sabri Yaakob.
He said Chinese government-owned companies would be working with local companies and the Malaysian Palm Oil Board (MPOB) to produce hydro treated vegetable oil and sustainable aviation fuel involving FDI value of RM6 billion.
"Companies from China (involved) are Shanxi Construction Investment Group Co. Ltd. (SCIG) and Institute of Coal Chemistry, Chinese Academy of Sciences (ICC-CAS), while the Malaysian companies are Pengerang Maritime Industries Sdn Bhd (Benalec) and Sabah Oil and Gas Development Corporation (SOGDC).
"The collaboration will see 1,000 new jobs created," he said while launching MIACES at the Malaysia International Trade and Exhibition Centre today.
The construction of the first HVO and SAF factories in the country is one of the initiatives to drive the palm oil sector towards being a high-tech and high-valued industry. New Straits Times
--------
Palm oil extends losses as Indonesian supply to flood the market
SINGAPORE (July 25): Palm oil fell for a third straight day, as the market remains cautious of a fresh attempt by Indonesia to ramp up overseas shipments.
Futures for October delivery swung between gains and losses before closing 1.6% lower at RM3,646 (US$819) a tonne, the lowest in more than a week.
Indonesia has been boosting shipments to reduce its bloated inventories, a move that’s caused prices to sink about 50% from a record close in April. The government has waived an export levy until end-August and is considering removing the domestic market obligation to further accelerate shipments.
Traders are also assessing a deal aimed at reviving agricultural exports from Ukraine, one of the world’s biggest wheat, corn and vegetable oil exporters. It’s uncertain how quickly exports will progress with Russia’s war still raging. The Edge Markets
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Squeaky clean palm oil
The narrative around palm oil has long been extremely negative. For many, the commodity is inextricably connected with deforestation and habitat destruction, especially in the rainforests of Southeast Asia. It is however an incredibly useful and efficient oil crop. As such, most involved in the oil palm sector argue that we shouldn’t be trying to get rid of it, but rather to find ways to grow it sustainably. Leading the way in this effort is the Netherlands-based company Natural Habitats. It was set up in 2009 with the aim of proving that palm oil can be produced in a manner that helps rather than harms the environment, and also benefits local communities. The company started its work in Ecuador on South America’s northwest coast. It currently has 79 small-scale suppliers in the country, all of whom it has helped gain certification under a wide range of organic and sustainable standards. It’s an inspiring initiative, but is Natural Habitats doing everything it says it’s doing? Is it really possible to produce palm oil sustainably? And can such a small company set an example that the rest of the industry can realistically follow? China Dialogue
KUALA LUMPUR: The government will continue to encourage foreign direct investment (FDI) to diversify high-value agri-commodity products, said Prime Minister Datuk Seri Ismail Sabri Yaakob.
He said Chinese government-owned companies would be working with local companies and the Malaysian Palm Oil Board (MPOB) to produce hydro treated vegetable oil and sustainable aviation fuel involving FDI value of RM6 billion.
"Companies from China (involved) are Shanxi Construction Investment Group Co. Ltd. (SCIG) and Institute of Coal Chemistry, Chinese Academy of Sciences (ICC-CAS), while the Malaysian companies are Pengerang Maritime Industries Sdn Bhd (Benalec) and Sabah Oil and Gas Development Corporation (SOGDC).
"The collaboration will see 1,000 new jobs created," he said while launching MIACES at the Malaysia International Trade and Exhibition Centre today.
The construction of the first HVO and SAF factories in the country is one of the initiatives to drive the palm oil sector towards being a high-tech and high-valued industry. New Straits Times
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Palm oil extends losses as Indonesian supply to flood the market
SINGAPORE (July 25): Palm oil fell for a third straight day, as the market remains cautious of a fresh attempt by Indonesia to ramp up overseas shipments.
Futures for October delivery swung between gains and losses before closing 1.6% lower at RM3,646 (US$819) a tonne, the lowest in more than a week.
Indonesia has been boosting shipments to reduce its bloated inventories, a move that’s caused prices to sink about 50% from a record close in April. The government has waived an export levy until end-August and is considering removing the domestic market obligation to further accelerate shipments.
Traders are also assessing a deal aimed at reviving agricultural exports from Ukraine, one of the world’s biggest wheat, corn and vegetable oil exporters. It’s uncertain how quickly exports will progress with Russia’s war still raging. The Edge Markets
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Squeaky clean palm oil
The narrative around palm oil has long been extremely negative. For many, the commodity is inextricably connected with deforestation and habitat destruction, especially in the rainforests of Southeast Asia. It is however an incredibly useful and efficient oil crop. As such, most involved in the oil palm sector argue that we shouldn’t be trying to get rid of it, but rather to find ways to grow it sustainably. Leading the way in this effort is the Netherlands-based company Natural Habitats. It was set up in 2009 with the aim of proving that palm oil can be produced in a manner that helps rather than harms the environment, and also benefits local communities. The company started its work in Ecuador on South America’s northwest coast. It currently has 79 small-scale suppliers in the country, all of whom it has helped gain certification under a wide range of organic and sustainable standards. It’s an inspiring initiative, but is Natural Habitats doing everything it says it’s doing? Is it really possible to produce palm oil sustainably? And can such a small company set an example that the rest of the industry can realistically follow? China Dialogue
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Malaysia-Govt steps up effort to keep palm oil as major economic contributor
PETALING JAYA: As global economic factors put pressure on palm oil prices, the government will step up efforts to ensure that the commodity remains a major contributor to the nation’s economic growth.
Plantation industries and commodities minister Zuraida Kamaruddin said the government would remain relentless in its efforts to fight attempts by anti-palm oil campaigners to discredit the commodity.
In a statement issued by her ministry today, she said she had led numerous trade missions to meet industry players globally to create greater awareness on the many benefits and uses of palm oil apart from it being used only for cooking.
The Malaysia International Agricommodity Expo and Summit from tomorrow to Thursday is a part of this effort. FMT
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China turns to durian diplomacy to boost ties with Southeast Asia
It is probably the most controversial fruit in the world, and haters often complain that it smells just like rotten onion or stinky eggs.
However, the durian, also known as the "king of fruit" to its fans, took centre stage in China's latest charm offensive towards Southeast Asia as Beijing pledged to import more the fruit from its neighbours in an effort to cement its ties with the strategically important region amid its intensifying rivalry with the US.
The fruit was given a special mention by Chinese Foreign Minister Wang Yi during his recent visit to Kuala Lumpur. Yahoo/SCMP
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Malaysia warns of weaker Q3 palm oil price as Indonesia scraps export levy
KUALA LUMPUR, July 25 (Reuters) - Malaysian crude palm oil prices will remain weak for most of the third quarter of this year, the country's commodities minister said on Monday, after rival producer Indonesia scrapped its export levy.
"This is inevitable in light of stiffer competition from Indonesia – the world's largest palm oil producer – in its quest to flush out as much excess palm oil possible from its existing stockpile," Zuraida Kamaruddin said in a statement.
Malaysia's benchmark crude palm oil prices FCPOc3 rallied to record levels earlier this year as Russia's invasion of Ukraine and a temporary export ban by Indonesia tightened global edible oil supply.
But prices plunged to their lowest in a year in recent weeks as Indonesia reversed an earlier decision to restrict exports. Nasdaq/ Reuters
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Indonesia’s record trade surplus ‘unsustainable’ as CPO prices plummet
Indonesia achieved its biggest-ever trade surplus in the first half of 2022, but experts warn that relying on raw materials like crude palm oil (CPO) and coal as the bulwark of productivity is unsustainable in the long run. They agree that a wide range of factors will narrow the trade surplus, or even turn it into a deficit, if fundamental aspects of the domestic economy are not changed. The archipelagic nation’s exports to the rest of the world exceeded its imports by US$24.89 billion. That is more than twice the surplus the country achieved in the equivalent period of 2021. The Jakarta Post
PETALING JAYA: As global economic factors put pressure on palm oil prices, the government will step up efforts to ensure that the commodity remains a major contributor to the nation’s economic growth.
Plantation industries and commodities minister Zuraida Kamaruddin said the government would remain relentless in its efforts to fight attempts by anti-palm oil campaigners to discredit the commodity.
In a statement issued by her ministry today, she said she had led numerous trade missions to meet industry players globally to create greater awareness on the many benefits and uses of palm oil apart from it being used only for cooking.
The Malaysia International Agricommodity Expo and Summit from tomorrow to Thursday is a part of this effort. FMT
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China turns to durian diplomacy to boost ties with Southeast Asia
It is probably the most controversial fruit in the world, and haters often complain that it smells just like rotten onion or stinky eggs.
However, the durian, also known as the "king of fruit" to its fans, took centre stage in China's latest charm offensive towards Southeast Asia as Beijing pledged to import more the fruit from its neighbours in an effort to cement its ties with the strategically important region amid its intensifying rivalry with the US.
The fruit was given a special mention by Chinese Foreign Minister Wang Yi during his recent visit to Kuala Lumpur. Yahoo/SCMP
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Malaysia warns of weaker Q3 palm oil price as Indonesia scraps export levy
KUALA LUMPUR, July 25 (Reuters) - Malaysian crude palm oil prices will remain weak for most of the third quarter of this year, the country's commodities minister said on Monday, after rival producer Indonesia scrapped its export levy.
"This is inevitable in light of stiffer competition from Indonesia – the world's largest palm oil producer – in its quest to flush out as much excess palm oil possible from its existing stockpile," Zuraida Kamaruddin said in a statement.
Malaysia's benchmark crude palm oil prices FCPOc3 rallied to record levels earlier this year as Russia's invasion of Ukraine and a temporary export ban by Indonesia tightened global edible oil supply.
But prices plunged to their lowest in a year in recent weeks as Indonesia reversed an earlier decision to restrict exports. Nasdaq/ Reuters
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Indonesia’s record trade surplus ‘unsustainable’ as CPO prices plummet
Indonesia achieved its biggest-ever trade surplus in the first half of 2022, but experts warn that relying on raw materials like crude palm oil (CPO) and coal as the bulwark of productivity is unsustainable in the long run. They agree that a wide range of factors will narrow the trade surplus, or even turn it into a deficit, if fundamental aspects of the domestic economy are not changed. The archipelagic nation’s exports to the rest of the world exceeded its imports by US$24.89 billion. That is more than twice the surplus the country achieved in the equivalent period of 2021. The Jakarta Post
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EU-What are EU's options in palm oil row with Malaysia and Indonesia?
Indonesia and Malaysia say the EU's palm oil restrictions are unfair and "discriminatory" and are hoping for the WTO to resolve the dispute. Meanwhile, the EU has been introducing new limits on using palm oil as fuel.
The World Trade Organization could soon rule on two cases brought against the European Union over its decision to phase out the import of unsustainable palm oil by 2030.
The complaints were filed by Indonesia and Malaysia, the world's two largest palm oil producers, who slammed Brussels' Renewable Energy Directive II as unfair and "discriminatory."
The EU has been sending mixed signals on the controversial issue.
On one hand, its officials have made clear that oil production is a leading cause of deforestation and so cannot comply with renewable energy targets. There is also an issue of pollution — palm oil diesel releases up to three times as many emissions compared to traditional petroleum-based fuel.
In early July, EU lawmakers adopted draft rules for the ReFuelEU initiative, which would mean 85% of all aviation fuel would have to be "sustainable" by 2050. Palm oil byproducts would not be acceptable. And there is now talk in the European Parliament of bringing forward the final phaseout date for palm oil imports, currently set at 2030.
At the same time, Brussels has attempted dialogue with palm oil exporters in recent months, including through the ASEAN-EU Joint Cooperation Committee meeting in Jakarta in late June.
And since the introduction of a renewable energy directive in 2018, the EU's imports of palm oil have actually increased. In 2021, the EU imported €6.3 billion ($6.4 billion) worth of palm oil and palm oil products, most used for biofuels. Deutsche Welle
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Indonesia-Flat demand and overflowing tanks pressure Indonesia's palm oil exports
Nearly two months since Jakarta revoked a complete ban on palm oil exports, the world's largest palm oil producer and exporter continues to struggle with overflowing storage tanks and low farmgate prices as international markets price in higher stocks and low demand.
"Key players still vary about how much downside is left in the prices knowing the huge stockpiles available in Indonesia. Due to this, I expect Indonesia's exports to be limited to 1.9 million mt in June and 2.2 million mt in July," Aditya Jeripotula head of research at commodities firm TransGraph Ltd said.
Indonesia typically exports between 2.5 million and 2.8 million mt of palm oil in a month.
In 2021 it produced 46.9 million mt and exported 34.2 million mt of palm oil products including biodiesel, according to Indonesian Palm Oil Association or Gapki data.
However, stocks in the country rose to a record high of 7.23 million mt at end-May, according to the latest Gapki data, after a three-week ban on exports was announced by President Joko Widodo on April 23 to check rising food inflation and cooking oil shortages. SP Global
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Indonesia-CPO export levy waiver ‘not enough’ to lift farm prices
The temporary waiver on export levies for all palm oil products is expected to temporarily boost crude palm oil (CPO) exports and fresh fruit bunch (FFB) prices in Indonesia, but critics of the move say that a strict policy regulating farm gate prices is needed for the long term.
The exemption was announced and came into force on July 15.
Bhima Yudhistira, executive director at the Center of Economics and Law Studies (CELIOS), said that while scrapping export levies for CPO and derivative products was necessary to control supply and demand, the scheme needed to be complemented with proper enforcement of Agriculture Ministry Regulation No. 1/2018 on FFB pricing to ensure fair prices for farmers. The Jakarta Post
Indonesia and Malaysia say the EU's palm oil restrictions are unfair and "discriminatory" and are hoping for the WTO to resolve the dispute. Meanwhile, the EU has been introducing new limits on using palm oil as fuel.
The World Trade Organization could soon rule on two cases brought against the European Union over its decision to phase out the import of unsustainable palm oil by 2030.
The complaints were filed by Indonesia and Malaysia, the world's two largest palm oil producers, who slammed Brussels' Renewable Energy Directive II as unfair and "discriminatory."
The EU has been sending mixed signals on the controversial issue.
On one hand, its officials have made clear that oil production is a leading cause of deforestation and so cannot comply with renewable energy targets. There is also an issue of pollution — palm oil diesel releases up to three times as many emissions compared to traditional petroleum-based fuel.
In early July, EU lawmakers adopted draft rules for the ReFuelEU initiative, which would mean 85% of all aviation fuel would have to be "sustainable" by 2050. Palm oil byproducts would not be acceptable. And there is now talk in the European Parliament of bringing forward the final phaseout date for palm oil imports, currently set at 2030.
At the same time, Brussels has attempted dialogue with palm oil exporters in recent months, including through the ASEAN-EU Joint Cooperation Committee meeting in Jakarta in late June.
And since the introduction of a renewable energy directive in 2018, the EU's imports of palm oil have actually increased. In 2021, the EU imported €6.3 billion ($6.4 billion) worth of palm oil and palm oil products, most used for biofuels. Deutsche Welle
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Indonesia-Flat demand and overflowing tanks pressure Indonesia's palm oil exports
Nearly two months since Jakarta revoked a complete ban on palm oil exports, the world's largest palm oil producer and exporter continues to struggle with overflowing storage tanks and low farmgate prices as international markets price in higher stocks and low demand.
"Key players still vary about how much downside is left in the prices knowing the huge stockpiles available in Indonesia. Due to this, I expect Indonesia's exports to be limited to 1.9 million mt in June and 2.2 million mt in July," Aditya Jeripotula head of research at commodities firm TransGraph Ltd said.
Indonesia typically exports between 2.5 million and 2.8 million mt of palm oil in a month.
In 2021 it produced 46.9 million mt and exported 34.2 million mt of palm oil products including biodiesel, according to Indonesian Palm Oil Association or Gapki data.
However, stocks in the country rose to a record high of 7.23 million mt at end-May, according to the latest Gapki data, after a three-week ban on exports was announced by President Joko Widodo on April 23 to check rising food inflation and cooking oil shortages. SP Global
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Indonesia-CPO export levy waiver ‘not enough’ to lift farm prices
The temporary waiver on export levies for all palm oil products is expected to temporarily boost crude palm oil (CPO) exports and fresh fruit bunch (FFB) prices in Indonesia, but critics of the move say that a strict policy regulating farm gate prices is needed for the long term.
The exemption was announced and came into force on July 15.
Bhima Yudhistira, executive director at the Center of Economics and Law Studies (CELIOS), said that while scrapping export levies for CPO and derivative products was necessary to control supply and demand, the scheme needed to be complemented with proper enforcement of Agriculture Ministry Regulation No. 1/2018 on FFB pricing to ensure fair prices for farmers. The Jakarta Post
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Indonesia considering scrapping domestic sales rule for palm oil exports
JAKARTA, July 22 (Reuters) - Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding back a recovery of palm oil fruit prices, the trade minister said on Friday.
Since ending a temporary ban on exports in late May, the world's biggest palm oil producer has required companies to sell a portion of output at home before issuing export permits, a policy known as DMO, in a bid to control cooking oil prices.
The temporary ban on shipments and the DMO policy, however, had led to a surge in palm oil stocks, storage issues and a slump in the price of palm oil fruit received by farmers.
Minister Zulkifli Hasan told reporters that previous policies to address such issues, including a temporary removal of an export levy and a larger export quota, had failed to slash stocks quickly. Reuters
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The Jakarta Post Editorial: Out of sudden, EU, ASEAN plan leaders’ summit in December
The 27-member European Union will host a full summit with the 10-strong ASEAN in Brussels on Dec. 14 to celebrate the 45th anniversary of relations between the two regional trade blocs. The EU is known for its preaching on human rights, democracy, freedoms and the environment, but this time around, the group will have to behave itself because of the changing international security and economic architecture. For years, the EU has threatened to boycott palm oil products from Indonesia, which controls 85 percent of the world's production along with Malaysia. It has also often said bad things about coal, which is damaging to the global environment. Can it rigidly stick to its pride as a champion of democracy and the environment?
It is now losing its privilege of dictating the people of Southeast Asia on good governance. It has threatened to stop extending development grants or loans, although much of the money will return to the bloc.
EU needs ASEAN more than the other way around now that it faces China and Russia, which are ready to “swallow” its members. President Joko “Jokowi” Widodo will have relinquished his Group of 20 presidency before the Brussels meeting but will take over the rotary ASEAN chair post and, therefore, he has to demonstrate his leadership of the regional bloc. In fact, he is the leader of ASEAN’s largest member in terms of economy, population and territory. The Jakarta Post
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Indonesia (Musim Mas Press Release) Zero-Waste Mills: Overcoming Sustainability Challenges
As one of the most significant industrial sectors, particularly in the Indonesian economy, it’s crucial that the palm oil industry incorporates sustainability into its operations. In every step of Musim Mas’ vertically integrated production, we continuously look into ways to sustainably meet the world’s palm oil demand. At our 15 mills with plantations, we effectively reuse, recover, and recycle all materials during production, effectively operating 100% zero-waste mills.
By-Products of Palm Oil Production
At our palm oil mills, we work around the concept of “Zero Waste.” This means that by-products are recycled back into the process, converted into an innocuous material that can be reused or converted to a material used elsewhere. Understanding what this means and how it’s sometimes tricky to accomplish requires us to look at the typical by-products of palm oil production. CSR Newswire
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Canada to require special labels on food products high in sugar, sodium and saturated fat from 2026
The Canadian government has announced that it will be introducing new legislation from 2026 requiring companies to add special labels on food products high in sugar, sodium and fat, the Globe and Mail reported.
Following six years of negotiations, Health Canada has officially finalised its plan to put warning labels on sugary, salty and fatty foods, while granting a last-minute exemption for ground meat, according to the 30 June report.
The new rules will require packaged foods containing more than 15% of the daily recommended intake of sugar, salt or saturated fats to display a label flagging this for consumers, the report said. Health organisations said the move was an important step in fighting obesity and diet-related illness.
“Research shows that a simple, clear symbol on the front of food packages will help consumers choose foods lower in saturated fat, sugar and sodium,” Health Minister Jean-Yves Duclos said on 30 June.
The programme would not be fully implemented until 2026, he said, as a long transition period would be needed to give food companies time to comply. OFI Magazine
JAKARTA, July 22 (Reuters) - Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding back a recovery of palm oil fruit prices, the trade minister said on Friday.
Since ending a temporary ban on exports in late May, the world's biggest palm oil producer has required companies to sell a portion of output at home before issuing export permits, a policy known as DMO, in a bid to control cooking oil prices.
The temporary ban on shipments and the DMO policy, however, had led to a surge in palm oil stocks, storage issues and a slump in the price of palm oil fruit received by farmers.
Minister Zulkifli Hasan told reporters that previous policies to address such issues, including a temporary removal of an export levy and a larger export quota, had failed to slash stocks quickly. Reuters
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The Jakarta Post Editorial: Out of sudden, EU, ASEAN plan leaders’ summit in December
The 27-member European Union will host a full summit with the 10-strong ASEAN in Brussels on Dec. 14 to celebrate the 45th anniversary of relations between the two regional trade blocs. The EU is known for its preaching on human rights, democracy, freedoms and the environment, but this time around, the group will have to behave itself because of the changing international security and economic architecture. For years, the EU has threatened to boycott palm oil products from Indonesia, which controls 85 percent of the world's production along with Malaysia. It has also often said bad things about coal, which is damaging to the global environment. Can it rigidly stick to its pride as a champion of democracy and the environment?
It is now losing its privilege of dictating the people of Southeast Asia on good governance. It has threatened to stop extending development grants or loans, although much of the money will return to the bloc.
EU needs ASEAN more than the other way around now that it faces China and Russia, which are ready to “swallow” its members. President Joko “Jokowi” Widodo will have relinquished his Group of 20 presidency before the Brussels meeting but will take over the rotary ASEAN chair post and, therefore, he has to demonstrate his leadership of the regional bloc. In fact, he is the leader of ASEAN’s largest member in terms of economy, population and territory. The Jakarta Post
--------
Indonesia (Musim Mas Press Release) Zero-Waste Mills: Overcoming Sustainability Challenges
As one of the most significant industrial sectors, particularly in the Indonesian economy, it’s crucial that the palm oil industry incorporates sustainability into its operations. In every step of Musim Mas’ vertically integrated production, we continuously look into ways to sustainably meet the world’s palm oil demand. At our 15 mills with plantations, we effectively reuse, recover, and recycle all materials during production, effectively operating 100% zero-waste mills.
By-Products of Palm Oil Production
At our palm oil mills, we work around the concept of “Zero Waste.” This means that by-products are recycled back into the process, converted into an innocuous material that can be reused or converted to a material used elsewhere. Understanding what this means and how it’s sometimes tricky to accomplish requires us to look at the typical by-products of palm oil production. CSR Newswire
---------
Canada to require special labels on food products high in sugar, sodium and saturated fat from 2026
The Canadian government has announced that it will be introducing new legislation from 2026 requiring companies to add special labels on food products high in sugar, sodium and fat, the Globe and Mail reported.
Following six years of negotiations, Health Canada has officially finalised its plan to put warning labels on sugary, salty and fatty foods, while granting a last-minute exemption for ground meat, according to the 30 June report.
The new rules will require packaged foods containing more than 15% of the daily recommended intake of sugar, salt or saturated fats to display a label flagging this for consumers, the report said. Health organisations said the move was an important step in fighting obesity and diet-related illness.
“Research shows that a simple, clear symbol on the front of food packages will help consumers choose foods lower in saturated fat, sugar and sodium,” Health Minister Jean-Yves Duclos said on 30 June.
The programme would not be fully implemented until 2026, he said, as a long transition period would be needed to give food companies time to comply. OFI Magazine
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Italy-Why we must all turn to sustainable palm oil
Mauro Fontana, the new President of the Italian Union for Sustainable Palm Oil, outlines his three-year plan to promote the use of certified sustainable palm oil in Italy.
I also believe that it is paramount to extend awareness of the importance of sustainable palm oil and its positive qualities at all levels. Not everyone knows, for example, that sustainable palm oil’s greenhouse gas emissions are 2.5 to six times lower than those of alternative vegetable oils (conventional palm oil, soya, rapeseed and sunflower). Moreover, the majority of studies confirm that the adoption of sustainable production standards not only safeguards our ecosystems, but also plays a crucial role in boosting the economy and livelihoods of local communities in the developing countries in which it’s produced.
Today in Italy in the food market alone, at least 95 percent of imported palm oil is certified sustainable, in accordance with international certification standards, such as those promoted by RSPO (the Roundtable on Sustainable Palm Oil). Italy is, therefore, a frontrunner in the supply of sustainable palm oil in Europe and we are confident that this virtuous path, dedicated to the promotion of consumer awareness and compliance with sustainable development objectives, will not be interrupted. New Food Magazine
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Indonesia to Develop Red Cooking Oil
TEMPO.CO, Jakarta - The Indonesian government planned to develop red cooking oil as an alternative amid the high price of palm cooking oil. Cooperatives and Small and Medium Enterprises Minister Teten Masduki said the price of red cooking oil would be cheaper than the general one consumed by the public.
“The selling price in the market is cheaper because of its simpler process,” said Teten at the Jakarta Presidential Palace, Monday, July 18, 2022.
Unlike palm cooking oil, red cooking oil is oil that does not go through a bleaching process. Teten explained that it is rich in protein and vitamin A content. Malaysia previously produced the commodity and exported it to China to overcome vitamin A deficiency.
The development plan was discussed by the ministers along with President Joko Widodo or Jokowi in a limited meeting. The government will set up a pilot production project in Sumatra and Kalimantan. Tempo
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Indonesia: SPI calls for increased role of peasant-cooperatives in Palm Oil processing
MEDAN: Early in July, President Joko Widodo inspected the red meal oil research process at the Palm Oil Research Center (PPKS), in Medan, North Sumatra. Red Oil itself is a palm oil innovation that has the potential to be used as functional food with health benefits.
Responding to this, Chairperson of the Indonesian Farmers Union (SPI) Henry Saragih said that SPI appreciated President Jokowi’s support for developing red meal oil.
“The lands that have been reformed, which farmers have planted oil palms and bear fruit, of course they need a palm oil mill (PKS) as well as a food oil factory so that their palm oil can be procured at a decent price. This is where the role of cooperatives emerges to manage the palm oil mill and the red oil mill. The cooperative buys palm oil at a fair price, and sells its derivative products in the form of cooking oil at affordable prices in the hands of consumers,” he explained.
“The presence of cooperatives, which of course are also managed by farmers, will certainly break the dependence on transnational corporations that have been “regulating” world palm oil prices, including Indonesia,” he continued. La Via Campesina
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Malaysia-Special select committee wants govt agencies to provide explanation on issue of forced labour
THE relevant government agencies, especially the Home Ministry, must provide an explanation regarding Malaysia’s ranking in Tier 3 of the Trafficking in Persons 2021 Report issued by the US State Department.
Special Select Committee on Fundamental Liberty and Constitutional Rights chairman Azizah Mohd Dun said the agencies should also provide an explanation regarding government measures and plans to improve Malaysia’s ranking in the report.
“Coordination among the relevant parties in tackling the issue of forced labour must be carried out more comprehensively and effectively,” she said in a statement today. The Malaysian Insight
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Malaysia's trade, exports hit new high
KUALA LUMPUR: Malaysia continues its stellar trade performance, registering an all-time record high for trade, exports and imports in June.
Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said the country's total trade increased 43.4 per cent to RM270.39 billion compared to June 2021.
"This is the 17th consecutive month of double-digit growth," Azmin said in a statement. New Straits Times
Mauro Fontana, the new President of the Italian Union for Sustainable Palm Oil, outlines his three-year plan to promote the use of certified sustainable palm oil in Italy.
I also believe that it is paramount to extend awareness of the importance of sustainable palm oil and its positive qualities at all levels. Not everyone knows, for example, that sustainable palm oil’s greenhouse gas emissions are 2.5 to six times lower than those of alternative vegetable oils (conventional palm oil, soya, rapeseed and sunflower). Moreover, the majority of studies confirm that the adoption of sustainable production standards not only safeguards our ecosystems, but also plays a crucial role in boosting the economy and livelihoods of local communities in the developing countries in which it’s produced.
Today in Italy in the food market alone, at least 95 percent of imported palm oil is certified sustainable, in accordance with international certification standards, such as those promoted by RSPO (the Roundtable on Sustainable Palm Oil). Italy is, therefore, a frontrunner in the supply of sustainable palm oil in Europe and we are confident that this virtuous path, dedicated to the promotion of consumer awareness and compliance with sustainable development objectives, will not be interrupted. New Food Magazine
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Indonesia to Develop Red Cooking Oil
TEMPO.CO, Jakarta - The Indonesian government planned to develop red cooking oil as an alternative amid the high price of palm cooking oil. Cooperatives and Small and Medium Enterprises Minister Teten Masduki said the price of red cooking oil would be cheaper than the general one consumed by the public.
“The selling price in the market is cheaper because of its simpler process,” said Teten at the Jakarta Presidential Palace, Monday, July 18, 2022.
Unlike palm cooking oil, red cooking oil is oil that does not go through a bleaching process. Teten explained that it is rich in protein and vitamin A content. Malaysia previously produced the commodity and exported it to China to overcome vitamin A deficiency.
The development plan was discussed by the ministers along with President Joko Widodo or Jokowi in a limited meeting. The government will set up a pilot production project in Sumatra and Kalimantan. Tempo
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Indonesia: SPI calls for increased role of peasant-cooperatives in Palm Oil processing
MEDAN: Early in July, President Joko Widodo inspected the red meal oil research process at the Palm Oil Research Center (PPKS), in Medan, North Sumatra. Red Oil itself is a palm oil innovation that has the potential to be used as functional food with health benefits.
Responding to this, Chairperson of the Indonesian Farmers Union (SPI) Henry Saragih said that SPI appreciated President Jokowi’s support for developing red meal oil.
“The lands that have been reformed, which farmers have planted oil palms and bear fruit, of course they need a palm oil mill (PKS) as well as a food oil factory so that their palm oil can be procured at a decent price. This is where the role of cooperatives emerges to manage the palm oil mill and the red oil mill. The cooperative buys palm oil at a fair price, and sells its derivative products in the form of cooking oil at affordable prices in the hands of consumers,” he explained.
“The presence of cooperatives, which of course are also managed by farmers, will certainly break the dependence on transnational corporations that have been “regulating” world palm oil prices, including Indonesia,” he continued. La Via Campesina
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Malaysia-Special select committee wants govt agencies to provide explanation on issue of forced labour
THE relevant government agencies, especially the Home Ministry, must provide an explanation regarding Malaysia’s ranking in Tier 3 of the Trafficking in Persons 2021 Report issued by the US State Department.
Special Select Committee on Fundamental Liberty and Constitutional Rights chairman Azizah Mohd Dun said the agencies should also provide an explanation regarding government measures and plans to improve Malaysia’s ranking in the report.
“Coordination among the relevant parties in tackling the issue of forced labour must be carried out more comprehensively and effectively,” she said in a statement today. The Malaysian Insight
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Malaysia's trade, exports hit new high
KUALA LUMPUR: Malaysia continues its stellar trade performance, registering an all-time record high for trade, exports and imports in June.
Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said the country's total trade increased 43.4 per cent to RM270.39 billion compared to June 2021.
"This is the 17th consecutive month of double-digit growth," Azmin said in a statement. New Straits Times
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Indonesia-Palm Oil Exports From Top Grower Set to Soar 60% in Price Blow
(Bloomberg) -- Palm oil shipments from Indonesia, the world’s biggest supplier, may surge more than 60% in second half of the year from the first six months as the government ramps up exports to reduce bloated inventories.
The country is likely to ship 17.3 million tons overseas from July to December, according to Sahat Sinaga, acting chairman of the Indonesia Palm Oil Board, which represents the industry. That compares with just 10.7 million tons in the first half, which was way below expectations because of an export ban imposed in late April and other curbs, he said in a phone interview on Tuesday.
The boom in supply will keep prices of the world’s most consumed cooking oil under pressure and probably bring a further slowing in global food inflation from a record earlier this year. Veteran analyst Dorab Mistry said Tuesday palm oil prices could drop over 20% by September on the increase in cargoes.
Stockpiles have ballooned in Indonesia because of the export curbs, which were brought in to cool domestic prices. Mistry estimates the inventories are now around 10 million tons and will continue to climb in August because of high local output. Sinaga said stockpiles exceeded 7 million tons in early July. BNN Bloomberg
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Malaysia-Government will monitor markets as Indonesia looks to release record levels of palm oil inventory
KUALA LUMPUR: The government will monitor the development of the palm oil industry after Indonesia announced that it has scrapped its export levy for all palm oil products until Aug 31, 2022.
Deputy Plantation Industries and Commodities Minister Datuk Seri Wee Jeck Seng (pix) said the development will affect Malaysia, which is one of the largest producers of palm oil products.
“We will look at this matter seriously because it does affect the export (of Malaysia’s palm oil),” he told reporters after a working visit to Isella Sofa Design Sdn Bhd here today.
Indonesia’s decision, which is also a major exporter of palm oil, to repeal the export levy for palm oil products is a fresh attempt to boost exports and ease high inventories, the country’s Finance Ministry officials said last Friday.
Indonesian palm oil producers have struggled with high inventories since the country imposed a three-week export ban through to May 23, 2022, to reduce domestic cooking oil prices. The Sun Daily
(Bloomberg) -- Palm oil shipments from Indonesia, the world’s biggest supplier, may surge more than 60% in second half of the year from the first six months as the government ramps up exports to reduce bloated inventories.
The country is likely to ship 17.3 million tons overseas from July to December, according to Sahat Sinaga, acting chairman of the Indonesia Palm Oil Board, which represents the industry. That compares with just 10.7 million tons in the first half, which was way below expectations because of an export ban imposed in late April and other curbs, he said in a phone interview on Tuesday.
The boom in supply will keep prices of the world’s most consumed cooking oil under pressure and probably bring a further slowing in global food inflation from a record earlier this year. Veteran analyst Dorab Mistry said Tuesday palm oil prices could drop over 20% by September on the increase in cargoes.
Stockpiles have ballooned in Indonesia because of the export curbs, which were brought in to cool domestic prices. Mistry estimates the inventories are now around 10 million tons and will continue to climb in August because of high local output. Sinaga said stockpiles exceeded 7 million tons in early July. BNN Bloomberg
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Malaysia-Government will monitor markets as Indonesia looks to release record levels of palm oil inventory
KUALA LUMPUR: The government will monitor the development of the palm oil industry after Indonesia announced that it has scrapped its export levy for all palm oil products until Aug 31, 2022.
Deputy Plantation Industries and Commodities Minister Datuk Seri Wee Jeck Seng (pix) said the development will affect Malaysia, which is one of the largest producers of palm oil products.
“We will look at this matter seriously because it does affect the export (of Malaysia’s palm oil),” he told reporters after a working visit to Isella Sofa Design Sdn Bhd here today.
Indonesia’s decision, which is also a major exporter of palm oil, to repeal the export levy for palm oil products is a fresh attempt to boost exports and ease high inventories, the country’s Finance Ministry officials said last Friday.
Indonesian palm oil producers have struggled with high inventories since the country imposed a three-week export ban through to May 23, 2022, to reduce domestic cooking oil prices. The Sun Daily
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EU demand for biodiesel, renewable diesel to remain flat in 2022
Demand for biodiesel and renewable diesel in the European Union was up in 2020 and 2021 despite the COVID-19 pandemic. That growth, however, is expected to stagnate in 2022 as the use of biofuels with higher greenhouse gas (GHG) reduction values means that less physical volumes are need to fulfill mandates, according to a report filed with the USDA Foreign Agricultural Service’s Global Agricultural Information Network.
According to the report, the EU is expected to produce approximately 11.9 billion liters (3.14 billion gallons) of biodiesel this year, down from 12.1 billion liters in 2021 and 12.18 billion liters in 2020. Renewable diesel production is expected to reach 3.56 billion liters this year, compared to 3.49 billion liters in 2021 and 3.6 billion liters in 2020. Biomass Magazine
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Indonesia "very likely" to delay B35 biodiesel rollout, energy ministry official says
JAKARTA, July 19 (Reuters) - Indonesia is "very likely" to delay the rollout of biodiesel with 35% palm oil content, known as B35, which was previously expected to start on July 20, energy ministry official Dadan Kusdiana said on Tuesday.
Authorities want to increase the bio-content in fuel to help reduce a huge stock of palm oil in Indonesia resulting from a three-week export ban which ended on May 23 and with ongoing shipment restrictions still in place. read more from Reuters
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Malaysia labor crunch cost palm oil sector $2 bln between Jan-May
KUALA LUMPUR — Malaysia is losing around 57,880 tonnes of palm oil fruit each day due to an acute shortage of labor, the commodities ministry said on Tuesday, costing the world’s second-biggest producer more than $2 billion in the first five months of the year.
The Southeast Asian nation has grappled with worsening labor shortages throughout the pandemic, and efforts to bring in migrant workers from Indonesia and Bangladesh have stalled amid negotiations over measures to protect workers.
“Although the country’s borders have reopened, the entry of foreign workers into the palm oil sector has not fully recovered,” minister Zuraida Kamaruddin told parliament.
Migrant workers make up more than 75% of the workforce in plantation estates and staff shortages have throttled palm oil production in Malaysia amid a global edible oil shortage. Financial Post/ Reuters
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Malaysia-RM10.46bil lost in unpicked oil palm fruit due to labour shortage
PETALING JAYA: Malaysia’s oil palm sector has lost an estimated RM10.46 billion worth of unpicked fruit in the first five months of this year because of the ongoing labour shortage.
Plantation industries and commodities minister Zuraida Kamaruddin said there was a shortage of 28,940 labourers in the industry, with an estimated productivity of harvesting two tonnes of oil palm fruit a day.
She said this comes up to about 57,880 tonnes of fresh oil palm fruit being unharvested a day, or 1.5 million tonnes a month.
“Based on this calculation, it is estimated that unpicked oil palm fruit due to a lack of labourers in the first five months of 2022 is around 7.52 million tonnes.
“This comes up to a value of RM10.46 billion, taking into account the average price of oil palm fruit from January to May, which was at RM1,390 per metric tonne,” she said in a parliamentary written reply. Free Malaysia Today
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Push for post-Brexit trade deals may threaten UK pledges on deforestation
The UK government may be undermining its commitments to end deforestation overseas because of conflicts over trade policy, the Guardian has learned.
A war of words is raging within the government over deforestation and trade, with green campaigners warning that a proposed policy could have dire consequences for efforts to stop illegal logging.
Anne-Marie Trevelyan, the international trade secretary, is believed to want to relax tariffs for goods including palm oil from Malaysia, a country of top concern over deforestation. The relaxation would be part of a broader push for trade deals with developing countries that the government is pursuing in the wake of Brexit. The Guardian
Demand for biodiesel and renewable diesel in the European Union was up in 2020 and 2021 despite the COVID-19 pandemic. That growth, however, is expected to stagnate in 2022 as the use of biofuels with higher greenhouse gas (GHG) reduction values means that less physical volumes are need to fulfill mandates, according to a report filed with the USDA Foreign Agricultural Service’s Global Agricultural Information Network.
According to the report, the EU is expected to produce approximately 11.9 billion liters (3.14 billion gallons) of biodiesel this year, down from 12.1 billion liters in 2021 and 12.18 billion liters in 2020. Renewable diesel production is expected to reach 3.56 billion liters this year, compared to 3.49 billion liters in 2021 and 3.6 billion liters in 2020. Biomass Magazine
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Indonesia "very likely" to delay B35 biodiesel rollout, energy ministry official says
JAKARTA, July 19 (Reuters) - Indonesia is "very likely" to delay the rollout of biodiesel with 35% palm oil content, known as B35, which was previously expected to start on July 20, energy ministry official Dadan Kusdiana said on Tuesday.
Authorities want to increase the bio-content in fuel to help reduce a huge stock of palm oil in Indonesia resulting from a three-week export ban which ended on May 23 and with ongoing shipment restrictions still in place. read more from Reuters
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Malaysia labor crunch cost palm oil sector $2 bln between Jan-May
KUALA LUMPUR — Malaysia is losing around 57,880 tonnes of palm oil fruit each day due to an acute shortage of labor, the commodities ministry said on Tuesday, costing the world’s second-biggest producer more than $2 billion in the first five months of the year.
The Southeast Asian nation has grappled with worsening labor shortages throughout the pandemic, and efforts to bring in migrant workers from Indonesia and Bangladesh have stalled amid negotiations over measures to protect workers.
“Although the country’s borders have reopened, the entry of foreign workers into the palm oil sector has not fully recovered,” minister Zuraida Kamaruddin told parliament.
Migrant workers make up more than 75% of the workforce in plantation estates and staff shortages have throttled palm oil production in Malaysia amid a global edible oil shortage. Financial Post/ Reuters
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Malaysia-RM10.46bil lost in unpicked oil palm fruit due to labour shortage
PETALING JAYA: Malaysia’s oil palm sector has lost an estimated RM10.46 billion worth of unpicked fruit in the first five months of this year because of the ongoing labour shortage.
Plantation industries and commodities minister Zuraida Kamaruddin said there was a shortage of 28,940 labourers in the industry, with an estimated productivity of harvesting two tonnes of oil palm fruit a day.
She said this comes up to about 57,880 tonnes of fresh oil palm fruit being unharvested a day, or 1.5 million tonnes a month.
“Based on this calculation, it is estimated that unpicked oil palm fruit due to a lack of labourers in the first five months of 2022 is around 7.52 million tonnes.
“This comes up to a value of RM10.46 billion, taking into account the average price of oil palm fruit from January to May, which was at RM1,390 per metric tonne,” she said in a parliamentary written reply. Free Malaysia Today
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Push for post-Brexit trade deals may threaten UK pledges on deforestation
The UK government may be undermining its commitments to end deforestation overseas because of conflicts over trade policy, the Guardian has learned.
A war of words is raging within the government over deforestation and trade, with green campaigners warning that a proposed policy could have dire consequences for efforts to stop illegal logging.
Anne-Marie Trevelyan, the international trade secretary, is believed to want to relax tariffs for goods including palm oil from Malaysia, a country of top concern over deforestation. The relaxation would be part of a broader push for trade deals with developing countries that the government is pursuing in the wake of Brexit. The Guardian
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Indonesia has to ship 6 mln T of palm oil up to August to clear tanks
AKARTA, July 18 (Reuters) - Indonesia will have to export 6 million tonnes of palm oil until August if it wants to cut its ballooning inventory levels back to normal, an industry association said on Monday, after the government waived its export levy for one and a half months.
The world's biggest palm oil exporter over the weekend removed a levy on exports of the vegetable oil until August and tweaked the details of progressive levy rates for September, in a bid to boost exports and ease high domestic stock levels.
Domestic inventories have risen after Jakarta imposed a three-week palm oil export ban in April and May. The resumption of exports did little to alleviate stocks as authorities have since May imposed mandatory domestic sales rules - known as domestic market obligation (DMO) - to shore up supplies of cooking oil. Nasdaq/ Reuters
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Indonesia-Industry Ministry to prioritize downstreaming of palm oil industry
The palm oil processing industry chain has also absorbed more than 5.2 million direct workers and supported the lives of up to 20 million people
Jakarta (ANTARA) - The Ministry of Industry will focus on implementing the downstream industry policy in a bid to increase the added value of domestic agro-based commodities, including palm oil.
"The palm oil processing industry chain has also absorbed more than 5.2 million direct workers and supported the lives of up to 20 million people," Industry Minister Agus Gumiwang Kartasasmita noted in a statement here, Monday.
The minister later explained that in 2021, palm product exports had reached 40.31 million tons, with a value of US$35.79 billion, an increase of 56.63 percent from the export value in 2020.
The palm oil processing industry is considered to play an important role in supporting the national economy. The industry is able to absorb products of smallholder farmers, improve the welfare of independent palm oil farmers, and increase foreign exchange earnings for the country, Kartasasmita added. Antara News
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Natural Habitats-Saving sloths the goal of new palm oil logo
BOULDER, COLO. – Natural Habitats has created a “shop smart, save sloths” logo to show how consumers’ product choices affect wildlife. Sloths are a native species of Ecuador where Boulder-based Natural Habitats sources palm oil. The company runs an educational platform called Palm Done Right dedicated to sustainable sourcing.
“One of the driving forces behind Palm Done Right is producing wildlife-friendly palm oil that protects the environment and promotes biodiversity,” said Monique van Wijnbergen, sustainability and corporate communications director at Natural Habitats. “Through shop smart, save sloths we can continue to drive a connection between consumer accessibility and eco-friendly options across a variety of verticals, including home goods, beauty products, skincare, food and more. Sloths represent just one of the many majestic native species of Ecuador, where we source palm fruit, and through this initiative we are encouraging consumers to make responsible choices that will protect the habitats of sloths and more.” Baking Business
AKARTA, July 18 (Reuters) - Indonesia will have to export 6 million tonnes of palm oil until August if it wants to cut its ballooning inventory levels back to normal, an industry association said on Monday, after the government waived its export levy for one and a half months.
The world's biggest palm oil exporter over the weekend removed a levy on exports of the vegetable oil until August and tweaked the details of progressive levy rates for September, in a bid to boost exports and ease high domestic stock levels.
Domestic inventories have risen after Jakarta imposed a three-week palm oil export ban in April and May. The resumption of exports did little to alleviate stocks as authorities have since May imposed mandatory domestic sales rules - known as domestic market obligation (DMO) - to shore up supplies of cooking oil. Nasdaq/ Reuters
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Indonesia-Industry Ministry to prioritize downstreaming of palm oil industry
The palm oil processing industry chain has also absorbed more than 5.2 million direct workers and supported the lives of up to 20 million people
Jakarta (ANTARA) - The Ministry of Industry will focus on implementing the downstream industry policy in a bid to increase the added value of domestic agro-based commodities, including palm oil.
"The palm oil processing industry chain has also absorbed more than 5.2 million direct workers and supported the lives of up to 20 million people," Industry Minister Agus Gumiwang Kartasasmita noted in a statement here, Monday.
The minister later explained that in 2021, palm product exports had reached 40.31 million tons, with a value of US$35.79 billion, an increase of 56.63 percent from the export value in 2020.
The palm oil processing industry is considered to play an important role in supporting the national economy. The industry is able to absorb products of smallholder farmers, improve the welfare of independent palm oil farmers, and increase foreign exchange earnings for the country, Kartasasmita added. Antara News
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Natural Habitats-Saving sloths the goal of new palm oil logo
BOULDER, COLO. – Natural Habitats has created a “shop smart, save sloths” logo to show how consumers’ product choices affect wildlife. Sloths are a native species of Ecuador where Boulder-based Natural Habitats sources palm oil. The company runs an educational platform called Palm Done Right dedicated to sustainable sourcing.
“One of the driving forces behind Palm Done Right is producing wildlife-friendly palm oil that protects the environment and promotes biodiversity,” said Monique van Wijnbergen, sustainability and corporate communications director at Natural Habitats. “Through shop smart, save sloths we can continue to drive a connection between consumer accessibility and eco-friendly options across a variety of verticals, including home goods, beauty products, skincare, food and more. Sloths represent just one of the many majestic native species of Ecuador, where we source palm fruit, and through this initiative we are encouraging consumers to make responsible choices that will protect the habitats of sloths and more.” Baking Business
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Indonesia Seeks Ways to Exit Coal Earlier With a Fund Mechanism
Indonesia is seeking to retire coal-reliant power plants earlier by devising a way to fund renewable projects amid the challenges of rising interest rates and elevated energy costs.
(Bloomberg) — Indonesia is seeking to retire coal-reliant power plants earlier by devising a way to fund renewable projects amid the challenges of rising interest rates and elevated energy costs.
“So we are going to be very, very serious first in making sure that this short-term disruption will not in this case also weaken our commitment,” Finance Minister Sri Mulyani Indrawati said in a Bloomberg Television interview with Haslinda Amin. She spoke from Bali on the sidelines of the Group of 20 finance ministers and central bank governors meeting.
The government is working out the details of the Energy Transition Mechanism, including how to price the cost of building out renewable power capacity to replace coal-guzzling plants, Indrawati said. Financial Post/ Bloomberg
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Indonesia plans new incentives to clear palm oil inventory, boost exports
JAKARTA (July 15): Indonesia plans to soon bring in new rules on its palm oil export levy and incentives to increase exports and empty storage tanks, a senior official said, the latest effort to accelerate shipments after a ban ended in May.
The government is still weighing up the rate of the new levy and incentives, to be applied temporarily to address a crisis of ballooning inventory, deputy finance minister, Suahasil Nazara, told Reuters, adding he expected the new regulations this weekend or by early next week.
"This temporary incentive is meant so that exports can flow, so that tanks can be quickly emptied and farmers' fresh fruit bunches can be absorbed," he said in a text message.
The world's biggest palm oil producer is still struggling to cut inventory, long after the end of a three-week export ban that sought to control domestic cooking oil prices.
Domestic stocks at the end of May reached 7.23 million tonnes, up 18.5% on a month-on-month basis and more than double the stock level of the end of May last year, data by the Indonesian Palm Oil Association (GAPKI) showed on Friday. The Edge Markets
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EU-MEPs call for country benchmarking and traceability to plot to be kept in EU deforestation law
The ENVI committee adopted its position on Tuesday this week on the EU Commission’s draft law on deforestation-free products to halt EU-driven global deforestation. Feed Navigator
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Indonesia plans new incentives to boost palm oil exports
JAKARTA, July 15 (Reuters) - Indonesia plans to bring in new rules on its palm oil export levy and incentives soon to boost exports and empty storage tanks, an official said, the latest attempt to boost shipments after the ending of an export ban in May.
The government is still weighing up the rate of the new levy and the incentives, which will be applied temporarily to tackle a crisis over ballooning inventories, deputy finance minister Suahasil Nazara told Reuters, adding he expected the new regulations this weekend or by early next week. Reuters
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Indonesia palm oil industry urges gov't to ease export curbs as harvest to worsen oversupply
JAKARTA, July 15 (Reuters) - Indonesia's palm oil industry is urging authorities to ease export restrictions and taxes so it can sell produce that risks going to waste, as an upcoming harvest season is likely to keep inventories at full capacity.
Easing export restrictions by the world's biggest palm oil producer will further depress prices FCPOc3 which have dropped nearly half since late April to their lowest in over a year.
Indonesian producers have been struggling with high inventories since the country imposed a three-week export embargo through May 23 to reduce domestic cooking oil prices.
That caused palm prices to spike and wiped about $2 billion off export earnings for Southeast Asia's largest economy. Nasdaq/ Reuters
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Indonesia’s farmers need protection from plummeting palm oil prices
But this was not new — domestic palm oil has been scarce multiple times in the past. In 1998, the government banned exports following economic and political turmoil after cooking oil prices soared but lifted the ban after protests, lower national income and increased smuggling.
This time, the government cited the impact on 17 million labourers in the palm oil industry as one of the reasons for lifting the ban. But the government seems to overlook farmers who were in dire straits while the ban was in effect. The Indonesian Farmers Union reported plummeting prices for oil palm fresh fruit bunches, causing farmers to sell below production costs at a loss. Some farmers were unable to sell their harvests entirely. Fresh fruit bunches prices remained low after the government lifted the ban. On top of this, farmers also faced fluctuating fertiliser prices.
To better protect farmers, we must first understand the palm oil landscape in Indonesia. Hundreds of smaller corporate groups and individual companies dominate plantations and mills — the upstream sector — while several large Indonesian groups dominate more than half of the downstream sector, including refinery and export. East Asia Forum
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Prolonged labor crunch at Malaysia's palm plantations seen hampering yields, output
Malaysia's palm producers could face lower yields and output in the second half of 2022, as a labor crunch in the plantation sector is set to prolong after Indonesia halted its migrant workers from going to Malaysia from this month, trade sources said.
The Indonesian government has reportedly imposed a temporary freeze on Indonesian workers entering Malaysia from July, citing issues on employment terms and worker protection. Malaysian planters faced a shortage of migrant workers to harvest crops during COVID-19 lockdowns and as a result, fell short of their production targets and missed the year's yield estimates.
Malaysia recorded a yield from palm oil-yielding fruits, otherwise known as Fresh Fruit Bunches, or FFB, of 6.90 mt/hectare from January-June, compared with 7.16 mt/hectare for the same period last year, according to data from the Malaysian Palm Oil Board.
The average crude palm oil yield slid to 1.36 mt/hectare in January-June, from 1.42 mt/hectare in January-June 2021, the MPOB data showed. SP Global
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Sustainability Efforts No Longer A 'Nice To Have' For Food Outlets (RSPO Paid Post)
Food service operators have transformed their businesses in several ways, including reducing single-use plastics and promoting more sustainable diets.
Sourcing certified, sustainable palm oil is another differentiating factor for food services to drive businesses' social and environmental goals.
Many retailers have clear objectives and communications when it comes to sourcing certified sustainable palm oil for their private-label packaged food.
However, the same does not always apply to ready-to-eat food and meals sold at their facilities, like pastries or baked goods.
Palm oil can be used in food outlets as cooking oil or may be found in the ingredients of products used to prepare meals.
In most places, prepared meals do not feature ingredient information on individual items. Therefore, consumers have less visibility about the sustainability impact of their food.
Retailers that use palm oil in their food outlets can give customers peace of mind by acquiring RSPO supply chain certification. ESM Magazine
Indonesia is seeking to retire coal-reliant power plants earlier by devising a way to fund renewable projects amid the challenges of rising interest rates and elevated energy costs.
(Bloomberg) — Indonesia is seeking to retire coal-reliant power plants earlier by devising a way to fund renewable projects amid the challenges of rising interest rates and elevated energy costs.
“So we are going to be very, very serious first in making sure that this short-term disruption will not in this case also weaken our commitment,” Finance Minister Sri Mulyani Indrawati said in a Bloomberg Television interview with Haslinda Amin. She spoke from Bali on the sidelines of the Group of 20 finance ministers and central bank governors meeting.
The government is working out the details of the Energy Transition Mechanism, including how to price the cost of building out renewable power capacity to replace coal-guzzling plants, Indrawati said. Financial Post/ Bloomberg
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Indonesia plans new incentives to clear palm oil inventory, boost exports
JAKARTA (July 15): Indonesia plans to soon bring in new rules on its palm oil export levy and incentives to increase exports and empty storage tanks, a senior official said, the latest effort to accelerate shipments after a ban ended in May.
The government is still weighing up the rate of the new levy and incentives, to be applied temporarily to address a crisis of ballooning inventory, deputy finance minister, Suahasil Nazara, told Reuters, adding he expected the new regulations this weekend or by early next week.
"This temporary incentive is meant so that exports can flow, so that tanks can be quickly emptied and farmers' fresh fruit bunches can be absorbed," he said in a text message.
The world's biggest palm oil producer is still struggling to cut inventory, long after the end of a three-week export ban that sought to control domestic cooking oil prices.
Domestic stocks at the end of May reached 7.23 million tonnes, up 18.5% on a month-on-month basis and more than double the stock level of the end of May last year, data by the Indonesian Palm Oil Association (GAPKI) showed on Friday. The Edge Markets
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EU-MEPs call for country benchmarking and traceability to plot to be kept in EU deforestation law
The ENVI committee adopted its position on Tuesday this week on the EU Commission’s draft law on deforestation-free products to halt EU-driven global deforestation. Feed Navigator
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Indonesia plans new incentives to boost palm oil exports
JAKARTA, July 15 (Reuters) - Indonesia plans to bring in new rules on its palm oil export levy and incentives soon to boost exports and empty storage tanks, an official said, the latest attempt to boost shipments after the ending of an export ban in May.
The government is still weighing up the rate of the new levy and the incentives, which will be applied temporarily to tackle a crisis over ballooning inventories, deputy finance minister Suahasil Nazara told Reuters, adding he expected the new regulations this weekend or by early next week. Reuters
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Indonesia palm oil industry urges gov't to ease export curbs as harvest to worsen oversupply
JAKARTA, July 15 (Reuters) - Indonesia's palm oil industry is urging authorities to ease export restrictions and taxes so it can sell produce that risks going to waste, as an upcoming harvest season is likely to keep inventories at full capacity.
Easing export restrictions by the world's biggest palm oil producer will further depress prices FCPOc3 which have dropped nearly half since late April to their lowest in over a year.
Indonesian producers have been struggling with high inventories since the country imposed a three-week export embargo through May 23 to reduce domestic cooking oil prices.
That caused palm prices to spike and wiped about $2 billion off export earnings for Southeast Asia's largest economy. Nasdaq/ Reuters
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Indonesia’s farmers need protection from plummeting palm oil prices
But this was not new — domestic palm oil has been scarce multiple times in the past. In 1998, the government banned exports following economic and political turmoil after cooking oil prices soared but lifted the ban after protests, lower national income and increased smuggling.
This time, the government cited the impact on 17 million labourers in the palm oil industry as one of the reasons for lifting the ban. But the government seems to overlook farmers who were in dire straits while the ban was in effect. The Indonesian Farmers Union reported plummeting prices for oil palm fresh fruit bunches, causing farmers to sell below production costs at a loss. Some farmers were unable to sell their harvests entirely. Fresh fruit bunches prices remained low after the government lifted the ban. On top of this, farmers also faced fluctuating fertiliser prices.
To better protect farmers, we must first understand the palm oil landscape in Indonesia. Hundreds of smaller corporate groups and individual companies dominate plantations and mills — the upstream sector — while several large Indonesian groups dominate more than half of the downstream sector, including refinery and export. East Asia Forum
--------
Prolonged labor crunch at Malaysia's palm plantations seen hampering yields, output
Malaysia's palm producers could face lower yields and output in the second half of 2022, as a labor crunch in the plantation sector is set to prolong after Indonesia halted its migrant workers from going to Malaysia from this month, trade sources said.
The Indonesian government has reportedly imposed a temporary freeze on Indonesian workers entering Malaysia from July, citing issues on employment terms and worker protection. Malaysian planters faced a shortage of migrant workers to harvest crops during COVID-19 lockdowns and as a result, fell short of their production targets and missed the year's yield estimates.
Malaysia recorded a yield from palm oil-yielding fruits, otherwise known as Fresh Fruit Bunches, or FFB, of 6.90 mt/hectare from January-June, compared with 7.16 mt/hectare for the same period last year, according to data from the Malaysian Palm Oil Board.
The average crude palm oil yield slid to 1.36 mt/hectare in January-June, from 1.42 mt/hectare in January-June 2021, the MPOB data showed. SP Global
--------
Sustainability Efforts No Longer A 'Nice To Have' For Food Outlets (RSPO Paid Post)
Food service operators have transformed their businesses in several ways, including reducing single-use plastics and promoting more sustainable diets.
Sourcing certified, sustainable palm oil is another differentiating factor for food services to drive businesses' social and environmental goals.
Many retailers have clear objectives and communications when it comes to sourcing certified sustainable palm oil for their private-label packaged food.
However, the same does not always apply to ready-to-eat food and meals sold at their facilities, like pastries or baked goods.
Palm oil can be used in food outlets as cooking oil or may be found in the ingredients of products used to prepare meals.
In most places, prepared meals do not feature ingredient information on individual items. Therefore, consumers have less visibility about the sustainability impact of their food.
Retailers that use palm oil in their food outlets can give customers peace of mind by acquiring RSPO supply chain certification. ESM Magazine
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EU-FEDIOL welcomes maintenance of 7% cap for crop-based biofuels in RED III ITRE vote but rejects provisions disadvantaging cropbased biofuels
Brussels, 14 July 2022 - Following the vote in the ITRE committee on the Revision of the Renewable Energy Directive (RED III), FEDIOL welcomes the maintenance of the 7% cap on crop-based biofuels but does not consider ITRE’s overall position balanced.
Although the committee has not lowered the crop-based cap, its report still limits the potential of crop-based biofuels in various ways, such as by allowing Member States to lower their Greenhouse Gas (GHG) emission reduction targets in the transport sector if their crop-based biofuels share is below the 7% cap. Moves to limit crop-based biodiesel sends a wrong signal to farmers and producers, discouraging production in the long run.
This also has a negative impact on the production of protein-rich co-products, hampering the EU’s efforts towards protein independence.
Behind such provisions is the failure to acknowledge that crop-based biodiesel has real advantages for the climate and environment. Crop-based biofuels offer GHG emission savings of more than 50% compared to fossil fuels. Fediol
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EU lawmakers vote to blacklist soy biodiesel over sustainability concerns
The European Parliament’s industry committee voted Wednesday (13 July) to restrict soy oil as a feedstock for biofuel production, a move that would put the crop on the same footing as palm oil in the EU.
MEPs took the decision due to concerns over the environmental impact of soy cultivation in countries outside of Europe where it is blamed for causing deforestation.
Some 73% of soybeans used in biodiesel production are currently imported from South America, according to clean mobility campaign group Transport & Environment (T&E).
Lawmakers additionally want to bring forward the start of the phase-out date for palm oil and soy – currently set at 2030 – to apply as soon as the directive enters into force, possibly as of next year.
“Palm oil and soya may no longer be counted towards the quota for first-generation biofuels as soon as the directive enters into force,” said Markus Pieper, a German MEP who steered the proposed legislation through Parliament. Euractiv
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Soy oil set to follow palm as crop faces biofuel feedstock restrictions
Industry committee members at the European Parliament have voted to restrict soy oil as a feedstock for biofuel production.
This action will place the crop in the same category as palm oil in the EU.
MEPs took the decision due to concerns over the environmental impact of soy cultivation in countries outside of Europe, Euractiv reported.
They believe this is a major cause of deforestation.
Some 73% of soybeans used in biodiesel production are currently imported from South America, according to clean mobility campaign group Transport & Environment (T&E).
Lawmakers additionally want to bring forward the start of the phase-out date for palm oil and soy – currently set at 2030 – to apply as soon as the directive enters into force, possibly as of next year.
“Palm oil and soya may no longer be counted towards the quota for first-generation biofuels as soon as the directive enters into force,” said Markus Pieper, a German MEP who steered the proposed legislation through Parliament. Biofuels News
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Malaysia-174,347 independent smallholders receive Malaysian Sustainable Palm Oil certification end-June
TAMPIN, July 13 — Independent smallholders numbering 174,347 covering 621,269 hectares (ha) nationwide have received the Malaysian Sustainable Palm Oil (MSPO) certification as of June 30.
Deputy Minister of Plantation Industries and Commodities Datuk Seri Wee Jeck Seng said apart from that, 232,601 smallholders with 673,512 ha of oil palm plantations under federal and state supervision have received their MSPO certificates during the same period.
He said the government was committed to ensuring that oil palm growers, comprising plantation operators and smallholders, will be able to meet the MSPO certification criteria to ensure that they are complying with environmental regulations and internationally accepted agricultural practices.
“Efforts to increase smallholders’ participation in MSPO certification via the Sustainable Palm Oil Clusters (SPOCs) are being actively implemented. Through SPOCs, smallholders will be assisted by MPOB officers to nurture good agricultural practices, and subsequently to prepare them for MSPO certification. Malay Mail
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EU(Opinion)-How can the EU achieve a “Brussels Effect” on forced labour
A trifecta of EU regulations, consumer choices, and reliable trading partners have the potential to eliminate forced labour and elevate sustainability in supply chains says Holger Lowewendorf
A closer look abroad shows how these goals can be accomplished. The European Foundation for Democracy published a new policy paper with recommendations on forced labour, using Malaysia and its palm oil industry as a case study to show how a specific country is attempting to meet international standards and present itself as a reliable partner.
Palm oil, a labour-intensive crop largely grown and harvested by foreign migrants, is Malaysia’s leading agricultural export product. The government and industry representatives acknowledge conflicts with global norms, particularly in terms of sustainability, recruitment, and working conditions. More importantly, they are implementing improvements – unlike countries, such as China, that dismiss evidence of forced labour as 'the lie of the century' or deny environmental degradation and other human rights violations. The Parliament Magazine
Brussels, 14 July 2022 - Following the vote in the ITRE committee on the Revision of the Renewable Energy Directive (RED III), FEDIOL welcomes the maintenance of the 7% cap on crop-based biofuels but does not consider ITRE’s overall position balanced.
Although the committee has not lowered the crop-based cap, its report still limits the potential of crop-based biofuels in various ways, such as by allowing Member States to lower their Greenhouse Gas (GHG) emission reduction targets in the transport sector if their crop-based biofuels share is below the 7% cap. Moves to limit crop-based biodiesel sends a wrong signal to farmers and producers, discouraging production in the long run.
This also has a negative impact on the production of protein-rich co-products, hampering the EU’s efforts towards protein independence.
Behind such provisions is the failure to acknowledge that crop-based biodiesel has real advantages for the climate and environment. Crop-based biofuels offer GHG emission savings of more than 50% compared to fossil fuels. Fediol
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EU lawmakers vote to blacklist soy biodiesel over sustainability concerns
The European Parliament’s industry committee voted Wednesday (13 July) to restrict soy oil as a feedstock for biofuel production, a move that would put the crop on the same footing as palm oil in the EU.
MEPs took the decision due to concerns over the environmental impact of soy cultivation in countries outside of Europe where it is blamed for causing deforestation.
Some 73% of soybeans used in biodiesel production are currently imported from South America, according to clean mobility campaign group Transport & Environment (T&E).
Lawmakers additionally want to bring forward the start of the phase-out date for palm oil and soy – currently set at 2030 – to apply as soon as the directive enters into force, possibly as of next year.
“Palm oil and soya may no longer be counted towards the quota for first-generation biofuels as soon as the directive enters into force,” said Markus Pieper, a German MEP who steered the proposed legislation through Parliament. Euractiv
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Soy oil set to follow palm as crop faces biofuel feedstock restrictions
Industry committee members at the European Parliament have voted to restrict soy oil as a feedstock for biofuel production.
This action will place the crop in the same category as palm oil in the EU.
MEPs took the decision due to concerns over the environmental impact of soy cultivation in countries outside of Europe, Euractiv reported.
They believe this is a major cause of deforestation.
Some 73% of soybeans used in biodiesel production are currently imported from South America, according to clean mobility campaign group Transport & Environment (T&E).
Lawmakers additionally want to bring forward the start of the phase-out date for palm oil and soy – currently set at 2030 – to apply as soon as the directive enters into force, possibly as of next year.
“Palm oil and soya may no longer be counted towards the quota for first-generation biofuels as soon as the directive enters into force,” said Markus Pieper, a German MEP who steered the proposed legislation through Parliament. Biofuels News
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Malaysia-174,347 independent smallholders receive Malaysian Sustainable Palm Oil certification end-June
TAMPIN, July 13 — Independent smallholders numbering 174,347 covering 621,269 hectares (ha) nationwide have received the Malaysian Sustainable Palm Oil (MSPO) certification as of June 30.
Deputy Minister of Plantation Industries and Commodities Datuk Seri Wee Jeck Seng said apart from that, 232,601 smallholders with 673,512 ha of oil palm plantations under federal and state supervision have received their MSPO certificates during the same period.
He said the government was committed to ensuring that oil palm growers, comprising plantation operators and smallholders, will be able to meet the MSPO certification criteria to ensure that they are complying with environmental regulations and internationally accepted agricultural practices.
“Efforts to increase smallholders’ participation in MSPO certification via the Sustainable Palm Oil Clusters (SPOCs) are being actively implemented. Through SPOCs, smallholders will be assisted by MPOB officers to nurture good agricultural practices, and subsequently to prepare them for MSPO certification. Malay Mail
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EU(Opinion)-How can the EU achieve a “Brussels Effect” on forced labour
A trifecta of EU regulations, consumer choices, and reliable trading partners have the potential to eliminate forced labour and elevate sustainability in supply chains says Holger Lowewendorf
A closer look abroad shows how these goals can be accomplished. The European Foundation for Democracy published a new policy paper with recommendations on forced labour, using Malaysia and its palm oil industry as a case study to show how a specific country is attempting to meet international standards and present itself as a reliable partner.
Palm oil, a labour-intensive crop largely grown and harvested by foreign migrants, is Malaysia’s leading agricultural export product. The government and industry representatives acknowledge conflicts with global norms, particularly in terms of sustainability, recruitment, and working conditions. More importantly, they are implementing improvements – unlike countries, such as China, that dismiss evidence of forced labour as 'the lie of the century' or deny environmental degradation and other human rights violations. The Parliament Magazine
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MINISTRY OF FOREIGN AFFAIRS OF THE REPUBLIC OF INDONESIA (Press Release)-The Second Joint Working Group on Palm Oil between EU and relevant ASEAN Member States
Jakarta, Indonesia – The Second Joint Working Group (JWG) Meeting on Palm Oil between the European Union and relevant ASEAN Member States was held virtually on 28 June 2022. The meeting was co-chaired by Director-General of ASEAN-Malaysia National Secretariat H.E. Dato’ Zanariah Zainal Abidin and Deputy Managing Director for the Asia and the Pacific, European External Action Service (EEAS) H.E. Paola Pampaloni. The meeting brought together representatives from Malaysia, Indonesia, Cambodia, Philippines, Thailand, Vietnam, Lao PDR, the European Commission and the European External Action Service.
Participants reconfirmed their longstanding relationship, based on mutual interests, developed, through, among others, the EU-ASEAN Strategic Partnership. Moreover, participants noted that the Second JWG Meeting was convened as part of the continued commitment reached at the 23rd ASEAN-EU Ministerial Meeting to address the challenges faced in sustainable vegetable oil production, through practical dialogue between relevant ASEAN Member States and the EU.
Participants engaged in constructive discussions on trends and challenges in ensuring sustainable vegetable oils. The current disruptions in the global supply chains of vegetable oils and their impact on increasing prices and food insecurity were raised. Participants also discussed the importance of promoting mutual understanding on the economic, social, and environmental challenges affecting vegetable oils with a view to addressing them in a holistic and transparent manner. KEMLU
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EU (Press Statement)-COCERAL, FEDIOL, and FEFAC Welcome Stronger EU Partnerships with Producing Countries in ENVI Report on EU Deforestation-free Commodities Regulation but Regret Traceability Provisions
Brussels, 13 July 2022 - Following the vote in the ENVI committee on the Regulation for Deforestation-free commodities, COCERAL, FEDIOL, and FEFAC support the stronger role that the committee has given to partnerships between EU and producing countries facilitating the implementation of the requirements of the Regulation. This will be crucial to enhance traceability, as many obstacles will need to be removed, which can only happen if the Commission, Member States, producing country governments (including regional and local authorities), operators, smallholders and other local economic actors in the supply chain, and NGOs work together in synergy. While the ENVI committee has reinforced this important aspect of the Regulation, we regret that production area traceability has not been retained to allow operators time to address the challenges linked to the requirement for geolocation coordinates of plots of land or polygons. We maintain that production area traceability should be the starting point, as this form of traceability, combined with satellite monitoring and checks on the ground, is sufficient to prove negligible risk of deforestation linked to an operator’s supply chain, especially when audited annually. In our view, it is essential that the challenges be addressed before making geolocation of plots of land and polygons the requirement, as a delay in addressing the obstacles will create uncertainty, especially around the risk of sourcing from smallholders and their potential exclusion in order to be compliant with the Regulation. It is apparent that those challenges have been underestimated, given the short timeframe for implementation relative to the number of years required to make progress in this area. It is equally concerning that the impact on smallholders and possible need for support is proposed for no later than 2 years after entry into force. Given that the specific challenges per sector and country vary and are complex, we are disappointed that such an assessment is not envisaged ahead of the entry into force of the information requirements. Either way, COCERAL, FEDIOL, and FEFAC stand ready to continue to work with the Commission and other stakeholders to enhance efforts to make traceability data requirements feasible, cost-effective, and controllable without leaving out smallholder suppliers. FEDIOL
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Indonesia June trade surplus seen widening after palm oil exports resume
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India-June palm oil imports jump 14.96%
NEW DELHI: India's palm oil imports rose 14.96% in June from the previous month as the world's biggest importer of vegetable oils stepped up purchases from Malaysia, Thailand and Papua New Guinea to offset the impact of export curbs imposed by Indonesia.
In June, India imported 590,921 tonnes of palm oil, the most widely consumed edible oil in the country as well as globally, up from 514,022 tonnes in May, Mumbai-based trade body the Solvent Extractors' Association (SEA) of India said in a statement.
Indonesia, the world's biggest producer and exporter of palm oil, on April 28 halted exports of the product to control soaring prices at home. Jakarta allowed exports to resume from May 23 but put in place policies to safeguard domestic supplies.
Times of India
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Indonesia’s Palm-based B35 biodiesel to help ease inventories
PETALING JAYA: Indonesia is scheduled to implement B35 biodiesel at the end of this month to spur domestic palm oil consumption.
It is also projected that the country will lower its palm oil export levy as part of efforts to reduce palm oil inventories.
This follows an export ban from the end of April to the end of May, during which palm oil stockpiles in Indonesia built-up.
“This (B35) policy is aimed at reducing palm oil inventories in Indonesia.
“It will help raise domestic palm oil usage, reduce stocks and improve domestic prices sentiment,” said CGS-CIMB Research in a report yesterday.
High reserves of palm oil have also affected the price of fresh fruit bunch (FFB) in Indonesia. The StarMY
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Indonesia to Temporarily Halt Sending More Workers to Malaysia
(Bloomberg) -- Indonesia will temporarily stop sending more workers to Malaysia, demanding that its neighbor commit to agreements between the two nations to resolve labor issues.
“We have agreed to use the One Channel System for placement of Indonesian workers, but Malaysia still has multiple hiring channels,” Rendra Setiawan, director for the placement and protection of Indonesian migrant workers, said by phone on Wednesday. That makes it hard for the government to monitor and protect migrant workers, he said.
Malaysia, which relies on migrant labor from countries including Indonesia, continues to struggle with shortages of workers in key sectors including palm oil, manufacturing and semiconductors. Both nations have two agreements in place aimed at ensuring protection for Indonesian migrant workers, said Setiawan.
“There are also issues such as labor wages, which have not been paid for years,” Setiawan said. Such problems prompted the Indonesian ambassador for Malaysia to recommend suspending orders for new workers and the ministry will follow up with a formal letter soon, he said. Bloomberg
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Northern Italy drought threatens olive oil, risotto rice and passata supplies
Supplies of olive oil, risotto rice and passata are under threat as northern Italy suffers its worst drought in 70 years, stirring up the cost of living crisis further.
Specialist importers are preparing for price rises of as much as 50% or more for rice and tomatoes and are considering looking for new sources of supply, after growers in the Po valley, the home of arborio rice used in risotto, warned of a “significant reduction” in crop yields this year.
Kyle Holland, an analyst at market research group Mintec, said some market sources suggest Italian production of olive oil could be between 20% and 30% down on last year. The Guardian
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Jakarta, Indonesia – The Second Joint Working Group (JWG) Meeting on Palm Oil between the European Union and relevant ASEAN Member States was held virtually on 28 June 2022. The meeting was co-chaired by Director-General of ASEAN-Malaysia National Secretariat H.E. Dato’ Zanariah Zainal Abidin and Deputy Managing Director for the Asia and the Pacific, European External Action Service (EEAS) H.E. Paola Pampaloni. The meeting brought together representatives from Malaysia, Indonesia, Cambodia, Philippines, Thailand, Vietnam, Lao PDR, the European Commission and the European External Action Service.
Participants reconfirmed their longstanding relationship, based on mutual interests, developed, through, among others, the EU-ASEAN Strategic Partnership. Moreover, participants noted that the Second JWG Meeting was convened as part of the continued commitment reached at the 23rd ASEAN-EU Ministerial Meeting to address the challenges faced in sustainable vegetable oil production, through practical dialogue between relevant ASEAN Member States and the EU.
Participants engaged in constructive discussions on trends and challenges in ensuring sustainable vegetable oils. The current disruptions in the global supply chains of vegetable oils and their impact on increasing prices and food insecurity were raised. Participants also discussed the importance of promoting mutual understanding on the economic, social, and environmental challenges affecting vegetable oils with a view to addressing them in a holistic and transparent manner. KEMLU
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EU (Press Statement)-COCERAL, FEDIOL, and FEFAC Welcome Stronger EU Partnerships with Producing Countries in ENVI Report on EU Deforestation-free Commodities Regulation but Regret Traceability Provisions
Brussels, 13 July 2022 - Following the vote in the ENVI committee on the Regulation for Deforestation-free commodities, COCERAL, FEDIOL, and FEFAC support the stronger role that the committee has given to partnerships between EU and producing countries facilitating the implementation of the requirements of the Regulation. This will be crucial to enhance traceability, as many obstacles will need to be removed, which can only happen if the Commission, Member States, producing country governments (including regional and local authorities), operators, smallholders and other local economic actors in the supply chain, and NGOs work together in synergy. While the ENVI committee has reinforced this important aspect of the Regulation, we regret that production area traceability has not been retained to allow operators time to address the challenges linked to the requirement for geolocation coordinates of plots of land or polygons. We maintain that production area traceability should be the starting point, as this form of traceability, combined with satellite monitoring and checks on the ground, is sufficient to prove negligible risk of deforestation linked to an operator’s supply chain, especially when audited annually. In our view, it is essential that the challenges be addressed before making geolocation of plots of land and polygons the requirement, as a delay in addressing the obstacles will create uncertainty, especially around the risk of sourcing from smallholders and their potential exclusion in order to be compliant with the Regulation. It is apparent that those challenges have been underestimated, given the short timeframe for implementation relative to the number of years required to make progress in this area. It is equally concerning that the impact on smallholders and possible need for support is proposed for no later than 2 years after entry into force. Given that the specific challenges per sector and country vary and are complex, we are disappointed that such an assessment is not envisaged ahead of the entry into force of the information requirements. Either way, COCERAL, FEDIOL, and FEFAC stand ready to continue to work with the Commission and other stakeholders to enhance efforts to make traceability data requirements feasible, cost-effective, and controllable without leaving out smallholder suppliers. FEDIOL
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Indonesia June trade surplus seen widening after palm oil exports resume
- June exports seen +30.26% y/y, vs May's +27.00%
- June imports seen +20.10% y/y, vs May's +30.74%
- June trade surplus f'cast at $3.52 billion, vs May's $2.9 bln
- Trade data due at 0200 GMT on Friday, July 15
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India-June palm oil imports jump 14.96%
NEW DELHI: India's palm oil imports rose 14.96% in June from the previous month as the world's biggest importer of vegetable oils stepped up purchases from Malaysia, Thailand and Papua New Guinea to offset the impact of export curbs imposed by Indonesia.
In June, India imported 590,921 tonnes of palm oil, the most widely consumed edible oil in the country as well as globally, up from 514,022 tonnes in May, Mumbai-based trade body the Solvent Extractors' Association (SEA) of India said in a statement.
Indonesia, the world's biggest producer and exporter of palm oil, on April 28 halted exports of the product to control soaring prices at home. Jakarta allowed exports to resume from May 23 but put in place policies to safeguard domestic supplies.
Times of India
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Indonesia’s Palm-based B35 biodiesel to help ease inventories
PETALING JAYA: Indonesia is scheduled to implement B35 biodiesel at the end of this month to spur domestic palm oil consumption.
It is also projected that the country will lower its palm oil export levy as part of efforts to reduce palm oil inventories.
This follows an export ban from the end of April to the end of May, during which palm oil stockpiles in Indonesia built-up.
“This (B35) policy is aimed at reducing palm oil inventories in Indonesia.
“It will help raise domestic palm oil usage, reduce stocks and improve domestic prices sentiment,” said CGS-CIMB Research in a report yesterday.
High reserves of palm oil have also affected the price of fresh fruit bunch (FFB) in Indonesia. The StarMY
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Indonesia to Temporarily Halt Sending More Workers to Malaysia
(Bloomberg) -- Indonesia will temporarily stop sending more workers to Malaysia, demanding that its neighbor commit to agreements between the two nations to resolve labor issues.
“We have agreed to use the One Channel System for placement of Indonesian workers, but Malaysia still has multiple hiring channels,” Rendra Setiawan, director for the placement and protection of Indonesian migrant workers, said by phone on Wednesday. That makes it hard for the government to monitor and protect migrant workers, he said.
Malaysia, which relies on migrant labor from countries including Indonesia, continues to struggle with shortages of workers in key sectors including palm oil, manufacturing and semiconductors. Both nations have two agreements in place aimed at ensuring protection for Indonesian migrant workers, said Setiawan.
“There are also issues such as labor wages, which have not been paid for years,” Setiawan said. Such problems prompted the Indonesian ambassador for Malaysia to recommend suspending orders for new workers and the ministry will follow up with a formal letter soon, he said. Bloomberg
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Northern Italy drought threatens olive oil, risotto rice and passata supplies
Supplies of olive oil, risotto rice and passata are under threat as northern Italy suffers its worst drought in 70 years, stirring up the cost of living crisis further.
Specialist importers are preparing for price rises of as much as 50% or more for rice and tomatoes and are considering looking for new sources of supply, after growers in the Po valley, the home of arborio rice used in risotto, warned of a “significant reduction” in crop yields this year.
Kyle Holland, an analyst at market research group Mintec, said some market sources suggest Italian production of olive oil could be between 20% and 30% down on last year. The Guardian
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EU-(Press Release) Climate change: new rules for companies to stop EU-driven deforestation globally
To fight climate change and biodiversity loss globally, Environment MEPs want only deforestation-free products to be allowed on the EU market.
The Environment, Public Health and Food Safety Committee today adopted its position with 60 votes to 2 and 13 abstentions on the Commission proposal for a regulation on deforestation-free products to halt EU-driven global deforestation.
The new law would make it obligatory for companies to verify (so-called “due diligence”) that goods sold in the EU have not been produced on deforested or degraded land. This would assure consumers that the products they buy do not contribute to the destruction of forests outside the EU, including of irreplaceable tropical forests, and hence reduce the EU’s contribution to climate change and biodiversity loss globally.
MEPs also want companies to verify that goods are produced in accordance with human rights protected under international law and the rights of indigenous people in addition to the relevant laws and standards in the country where the products are produced. Europarl.Europa
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EU(Global Witness)-MEPs back holding banks accountable in stronger EU anti-deforestation law
Brussels, July 12 – MEPs in the European Parliament’s Environment Committee today voted to improve the EU’s draft anti-deforestation law, passing measures that would oblige banks to conduct due diligence to prevent the financing of deforestation, boost protections for indigenous communities, and add rubber and leather to the list of imported products that would be screened for deforestation links.
Reacting to the vote, Giulia Bondi, Senior EU Forests Campaigner at Global Witness said:
“If the package that was agreed today ends up being included in the final law, the world’s remaining forests and the indigenous communities who protect them would be in a much safer place. It’s now up to the rest of the European Parliament to back this proposal to protect forests and indigenous communities, end EU banks’ complicity in deforestation and make sure imports of rubber and leather are deforestation-free.” Global Witness
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ASEAN-GFP-SPO introduced as reference across palm oil certification schemes
KUALA LUMPUR (July 12): The Global Framework of Principles for Sustainable Palm Oil (GFP-SPO) can be used as a common reference across different certification schemes applied primarily to palm oil production which anchored the United Nations Sustainable Development Goals (UN SDGs) as its base.
The GFP-SPO was introduced in a webinar on Monday (July 11) at a side event during the 2022 United Nations Economic and Social Council High-Level Political Forum (ECOSOC HLPF).
The event was conducted by the Council of Palm Oil Producing Countries (CPOPC) in cooperation with the governments of Indonesia, Malaysia and the Philippines and the International Coconut Community.
It was graced by the presence of Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin and Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto.
Zuraida said although the GFP-SPO is developed through the palm oil lenses to measure the contribution of palm oil towards achieving sustainable development, it can actually be used as a sustainability reference for other types of vegetable oils, such as soybean, rapeseed, sunflower and others. The Edge Markets
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VEGOILS-Palm rises for third day on Indonesia's biodiesel mandate
KUALA LUMPUR, July 12 (Reuters) - Malaysian palm oil futures rose for a third straight session on Tuesday, supported by top producer Indonesia's plan to raise its biodiesel mandate.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 70 ringgit, or 1.68%, to 4,227 ringgit ($952.89) a tonne during early trade. The market reopened after a long weekend on Tuesday. Nasdaq/ Reuters
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Malaysia end-June palm oil stocks climb to seven-month high as exports drag
KUALA LUMPUR, July 12 (Reuters) - Malaysia's palm oil stocks at end-June rose to their highest in seven months as its exports were throttled by rival Indonesia's policies to boost its own shipments, industry regulator data showed on Tuesday.
Inventories in Malaysia, the world's second-largest producer, rose 8.76% from the previous month to 1.66 million tonnes, its highest since November, according to the Malaysian Palm Oil Board (MPOB). Reuters
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China to Import More Palm Oil From Malaysia, Wang Yi Says
(Bloomberg) -- China, the world’s second-largest palm oil buyer, will increase its purchases of the tropical oil from Malaysia, Bernama reported, citing Chinese Foreign Minister Wang Yi.
Malaysia’s palm oil exports to China rose more than 13% in June month-on-month to 96,496 tons, according to data from the Malaysian Palm Oil Board on Tuesday, though shipments slid 55% from the year-earlier month.
Wang, who is on a two-day official visit to Malaysia, also said that efforts are being made to enable Malaysian students to return to China as soon as possible to continue their studies, according to the report.
China is Malaysia’s largest trading partner and made up for about 19% of the nation’s total trade in 2021. Malaysia is the world’s No. 2 producer of palm oil. BNN Bloomberg
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Report: Mediterranean Agricultural Biodiversity at Risk
The Agrobiodiversity Index Report 2021 shows diversity is the key to MedDiet survival in a world increasingly dominated by monocultures and provides recommendations.
Many Mediterranean countries are at risk of depleting one of the planet’s biodiversity hotspots, according to a new report.
The Agrobiodiversity Index Report found that the current industrial farming approach paired with the changing climate is damaging the environment and food diversity in the Mediterranean basin.
“This means that many farms are producing the same crops, like grapes, olives, maize, sunflowers, and that there is a lack of natural infrastructures in and around farmland, things like hedgerows, woodlots, forest remnants and wetlands,” she added.
The goal of the report’s authors was to analyze the status of plants, animals, microorganisms, soil and agriculture in 10 countries bordering the Mediterranean Sea. Olive Oil Times
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To fight climate change and biodiversity loss globally, Environment MEPs want only deforestation-free products to be allowed on the EU market.
The Environment, Public Health and Food Safety Committee today adopted its position with 60 votes to 2 and 13 abstentions on the Commission proposal for a regulation on deforestation-free products to halt EU-driven global deforestation.
The new law would make it obligatory for companies to verify (so-called “due diligence”) that goods sold in the EU have not been produced on deforested or degraded land. This would assure consumers that the products they buy do not contribute to the destruction of forests outside the EU, including of irreplaceable tropical forests, and hence reduce the EU’s contribution to climate change and biodiversity loss globally.
MEPs also want companies to verify that goods are produced in accordance with human rights protected under international law and the rights of indigenous people in addition to the relevant laws and standards in the country where the products are produced. Europarl.Europa
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EU(Global Witness)-MEPs back holding banks accountable in stronger EU anti-deforestation law
Brussels, July 12 – MEPs in the European Parliament’s Environment Committee today voted to improve the EU’s draft anti-deforestation law, passing measures that would oblige banks to conduct due diligence to prevent the financing of deforestation, boost protections for indigenous communities, and add rubber and leather to the list of imported products that would be screened for deforestation links.
Reacting to the vote, Giulia Bondi, Senior EU Forests Campaigner at Global Witness said:
“If the package that was agreed today ends up being included in the final law, the world’s remaining forests and the indigenous communities who protect them would be in a much safer place. It’s now up to the rest of the European Parliament to back this proposal to protect forests and indigenous communities, end EU banks’ complicity in deforestation and make sure imports of rubber and leather are deforestation-free.” Global Witness
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ASEAN-GFP-SPO introduced as reference across palm oil certification schemes
KUALA LUMPUR (July 12): The Global Framework of Principles for Sustainable Palm Oil (GFP-SPO) can be used as a common reference across different certification schemes applied primarily to palm oil production which anchored the United Nations Sustainable Development Goals (UN SDGs) as its base.
The GFP-SPO was introduced in a webinar on Monday (July 11) at a side event during the 2022 United Nations Economic and Social Council High-Level Political Forum (ECOSOC HLPF).
The event was conducted by the Council of Palm Oil Producing Countries (CPOPC) in cooperation with the governments of Indonesia, Malaysia and the Philippines and the International Coconut Community.
It was graced by the presence of Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin and Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto.
Zuraida said although the GFP-SPO is developed through the palm oil lenses to measure the contribution of palm oil towards achieving sustainable development, it can actually be used as a sustainability reference for other types of vegetable oils, such as soybean, rapeseed, sunflower and others. The Edge Markets
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VEGOILS-Palm rises for third day on Indonesia's biodiesel mandate
KUALA LUMPUR, July 12 (Reuters) - Malaysian palm oil futures rose for a third straight session on Tuesday, supported by top producer Indonesia's plan to raise its biodiesel mandate.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 70 ringgit, or 1.68%, to 4,227 ringgit ($952.89) a tonne during early trade. The market reopened after a long weekend on Tuesday. Nasdaq/ Reuters
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Malaysia end-June palm oil stocks climb to seven-month high as exports drag
KUALA LUMPUR, July 12 (Reuters) - Malaysia's palm oil stocks at end-June rose to their highest in seven months as its exports were throttled by rival Indonesia's policies to boost its own shipments, industry regulator data showed on Tuesday.
Inventories in Malaysia, the world's second-largest producer, rose 8.76% from the previous month to 1.66 million tonnes, its highest since November, according to the Malaysian Palm Oil Board (MPOB). Reuters
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China to Import More Palm Oil From Malaysia, Wang Yi Says
(Bloomberg) -- China, the world’s second-largest palm oil buyer, will increase its purchases of the tropical oil from Malaysia, Bernama reported, citing Chinese Foreign Minister Wang Yi.
Malaysia’s palm oil exports to China rose more than 13% in June month-on-month to 96,496 tons, according to data from the Malaysian Palm Oil Board on Tuesday, though shipments slid 55% from the year-earlier month.
Wang, who is on a two-day official visit to Malaysia, also said that efforts are being made to enable Malaysian students to return to China as soon as possible to continue their studies, according to the report.
China is Malaysia’s largest trading partner and made up for about 19% of the nation’s total trade in 2021. Malaysia is the world’s No. 2 producer of palm oil. BNN Bloomberg
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Report: Mediterranean Agricultural Biodiversity at Risk
The Agrobiodiversity Index Report 2021 shows diversity is the key to MedDiet survival in a world increasingly dominated by monocultures and provides recommendations.
Many Mediterranean countries are at risk of depleting one of the planet’s biodiversity hotspots, according to a new report.
The Agrobiodiversity Index Report found that the current industrial farming approach paired with the changing climate is damaging the environment and food diversity in the Mediterranean basin.
“This means that many farms are producing the same crops, like grapes, olives, maize, sunflowers, and that there is a lack of natural infrastructures in and around farmland, things like hedgerows, woodlots, forest remnants and wetlands,” she added.
The goal of the report’s authors was to analyze the status of plants, animals, microorganisms, soil and agriculture in 10 countries bordering the Mediterranean Sea. Olive Oil Times
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Huge edible oil imports compromise India's interest, imperative to become self-reliant: Report
New Delhi: Huge reliance on edible oil imports could compromise India's national interest in the long run, said rating and research firm CareEdge in a report, adding that it has now become imperative for the country to become not only self-reliant but also self-sufficient to the best extent possible via 'Atmanirbhar Bharat' initiative.
In a report titled 'India's Bid to Reduce Imports and Become 'Atmanirbhar', it said self-sufficiency is economically prudent as well as strategically sensible. "The recent geopolitical crisis (in Ukraine is) causing restrictions in the import of edible oils, such as sunflower oil, adverse measures taken by major edible oil-exporting countries relating to the export of palm oil, increasing diversion towards bio-fuels are major challenges to an edible oil-importing country like India," the report said.
"Thus, it is desirable to increase domestic oil seeds production to reduce import dependency in an uncertain geopolitical environment amid the increasing "de-globalization" trend across the world", it added.
India is the world's second-largest consumer and number one importer of vegetable oil, and it meets 55-60 per cent of its need through imports. Although the oilseed production in India has grown over the years, the production has lagged its consumption, resulting in continuous dependence on imports. Times of Oman
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India-Commodities slump is set to give India relief from inflation
Global edible oil prices crash; will other food commodities follow?
Palm oil down 43 per cent from March peak, sets the stage for easing of global food inflation.
The present prolonged bout of global food inflation from around end-2020 began with edible oils. Could it end with edible oils?
As far as overall food inflation goes, these are still early days. The United Nations Food and Agriculture Organization’s (FAO) food price index hit an all-time high of 159.7 points in March, the month immediately following the Russian invasion of Ukraine. Since then, the index — a weighted average of world prices of a basket of food commodities over a base period value, taken at 100 for 2014-15 — has eased a tad, by 3.4%, to 154.2 points in June.
The picture is clearer in vegetable oils, where the FAO’s sub-index has fallen by 15.9%, from 251.8 to 211.8 points, between March and June. The rise during April 2020 to March 2022 was sharper for vegetable oils (from 81.2 to 251.8 points) than for the general index (from 92.5 to 159.7 points). But so has been the subsequent dip from March to June (See chart). Indian Express
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EU-FEDIOL study shows environmental footprint of vegetable oil-based products
A new study looking into the environmental footprint of vegetable oil-based products has been published by the European Union (EU) seed crushers and oil processors’ federation (FEDIOL).
Commissioned by Belgian research institute VITO, the life cycle stages covered in the study included the industrial processing of oilseeds and crude vegetable oils, the association said.
The up-stream stages of cultivation and transport and the downstream stages of transportation of the processed products to customers, were also covered in the Product Environmental Footprint (PEF) profiles, FEDIOL said in the 15 June statement.
A total of 28 production sites from 10 FEDIOL companies took part in the study by collecting data and contributing to the design of the sector’s category rules.
Developed by the European Commission (EC) and based on life cycle assessment, the PEF’s goal is to provide a common approach to measuring environmental performance of products.
Following the PEF method, the 16 environmental impacts were assessed along with biodiversity, FEDIOL said, and VITO then created category rules for the association’s products, which provided specific guidance for estimating and reporting product life cycle environmental impacts. OFI Magazine
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Indonesia to implement B35 biodiesel by end of the month
Indonesia to implement B35 biodiesel by end of the month
In Indonesia, Reuters reports that Indonesia aims to implement a 35% palm oil mix in biodiesel (B35), by the end of July to help absorb excess palm oil supply, senior energy ministry official Dadan Kusdiana said on Friday. Dadan also told CNBC Indonesia that the ministry had run laboratory testing for biodiesel containing up to 40% of palm oil fuel in biodiesel (B40).
The world’s biggest palm oil producer currently has a mandatory 30% blend of palm oil-based fuel in its biodiesel and the government has been looking at raising it to 35% or 40% to support the price of local palm oil fruits, according to Reuters. The Southeast Asian country is struggling to cut palm oil inventories after a three-week export ban ending in May aimed at controlling domestic cooking oil prices had boosted stocks and weighed on palm fruit prices amid the peak harvest season. Biofuels Digest
New Delhi: Huge reliance on edible oil imports could compromise India's national interest in the long run, said rating and research firm CareEdge in a report, adding that it has now become imperative for the country to become not only self-reliant but also self-sufficient to the best extent possible via 'Atmanirbhar Bharat' initiative.
In a report titled 'India's Bid to Reduce Imports and Become 'Atmanirbhar', it said self-sufficiency is economically prudent as well as strategically sensible. "The recent geopolitical crisis (in Ukraine is) causing restrictions in the import of edible oils, such as sunflower oil, adverse measures taken by major edible oil-exporting countries relating to the export of palm oil, increasing diversion towards bio-fuels are major challenges to an edible oil-importing country like India," the report said.
"Thus, it is desirable to increase domestic oil seeds production to reduce import dependency in an uncertain geopolitical environment amid the increasing "de-globalization" trend across the world", it added.
India is the world's second-largest consumer and number one importer of vegetable oil, and it meets 55-60 per cent of its need through imports. Although the oilseed production in India has grown over the years, the production has lagged its consumption, resulting in continuous dependence on imports. Times of Oman
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India-Commodities slump is set to give India relief from inflation
Global edible oil prices crash; will other food commodities follow?
Palm oil down 43 per cent from March peak, sets the stage for easing of global food inflation.
The present prolonged bout of global food inflation from around end-2020 began with edible oils. Could it end with edible oils?
As far as overall food inflation goes, these are still early days. The United Nations Food and Agriculture Organization’s (FAO) food price index hit an all-time high of 159.7 points in March, the month immediately following the Russian invasion of Ukraine. Since then, the index — a weighted average of world prices of a basket of food commodities over a base period value, taken at 100 for 2014-15 — has eased a tad, by 3.4%, to 154.2 points in June.
The picture is clearer in vegetable oils, where the FAO’s sub-index has fallen by 15.9%, from 251.8 to 211.8 points, between March and June. The rise during April 2020 to March 2022 was sharper for vegetable oils (from 81.2 to 251.8 points) than for the general index (from 92.5 to 159.7 points). But so has been the subsequent dip from March to June (See chart). Indian Express
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EU-FEDIOL study shows environmental footprint of vegetable oil-based products
A new study looking into the environmental footprint of vegetable oil-based products has been published by the European Union (EU) seed crushers and oil processors’ federation (FEDIOL).
Commissioned by Belgian research institute VITO, the life cycle stages covered in the study included the industrial processing of oilseeds and crude vegetable oils, the association said.
The up-stream stages of cultivation and transport and the downstream stages of transportation of the processed products to customers, were also covered in the Product Environmental Footprint (PEF) profiles, FEDIOL said in the 15 June statement.
A total of 28 production sites from 10 FEDIOL companies took part in the study by collecting data and contributing to the design of the sector’s category rules.
Developed by the European Commission (EC) and based on life cycle assessment, the PEF’s goal is to provide a common approach to measuring environmental performance of products.
Following the PEF method, the 16 environmental impacts were assessed along with biodiversity, FEDIOL said, and VITO then created category rules for the association’s products, which provided specific guidance for estimating and reporting product life cycle environmental impacts. OFI Magazine
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Indonesia to implement B35 biodiesel by end of the month
Indonesia to implement B35 biodiesel by end of the month
In Indonesia, Reuters reports that Indonesia aims to implement a 35% palm oil mix in biodiesel (B35), by the end of July to help absorb excess palm oil supply, senior energy ministry official Dadan Kusdiana said on Friday. Dadan also told CNBC Indonesia that the ministry had run laboratory testing for biodiesel containing up to 40% of palm oil fuel in biodiesel (B40).
The world’s biggest palm oil producer currently has a mandatory 30% blend of palm oil-based fuel in its biodiesel and the government has been looking at raising it to 35% or 40% to support the price of local palm oil fruits, according to Reuters. The Southeast Asian country is struggling to cut palm oil inventories after a three-week export ban ending in May aimed at controlling domestic cooking oil prices had boosted stocks and weighed on palm fruit prices amid the peak harvest season. Biofuels Digest
Asean-EU cooperation vital for regional stability, security and prosperity
KUALA LUMPUR: Asean and the European Union need to work more closely for stability, security, and prosperity of both regions.
Foreign Ministry deputy secretary-general (multilateral affairs) Datuk Cheong Loon Lai said this was more so during the current challenging time of the post-Covid-19 pandemic recovery period.
Cheong said that since December 2020, the Asean-EU relations had been elevated to the level of 'Strategic Partnership'.
"This was achieved after 45 years of active, comprehensive and multifaceted partnership.
"With regard to Malaysia-EU relations, we are proud to recognise that Malaysia and the EU have achieved a lot in the past few years.
"Likewise, Malaysia looks forward to working together with the Czech Republic in ensuring our shared commitments towards the prosperity and stability of our two regions, remain in focus," he said in his address at a reception in conjunction with the Czech Republic taking over the EU council presidency from France at Hilton Double Tree in Jalan Tun Razak. New Straits Times
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Malaysia-Climate change: A timebomb which cannot be ignored ― Zuraida Kamaruddin
JULY 9 ― For years, researchers have been warning us about the devastating effects climate change can cause on human lives. However, these warnings were mostly not taken seriously and many do not realise just how real the dangers are. A clear sign of this is the recent devastating floods which hit our country, causing not only destruction to property, but also loss of human lives.
Even the United Nations has warned that climate change is set to create havoc if not addressed early. Irregular rainfall and heat may severely endanger the economic development of a country which may be detrimental to a nation like ours where 7.4 per cent of our GDP is from the agriculture sector which includes rubber, cocoa, rice and palm oil.
Researchers from local universities have listed the potential impacts of climate change on Malaysia which include reduced crop yields, greater diseases among forest species, loss of biodiversity, increased flooding and decreasing water availability.
Climate change is not something to be taken lightly and recently our prime minister had also announced the formulation of the National Adaptation Plan (MyNAP) which will include long-term action plans and strategies related to the impacts of climate change. Malay Mail
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Indonesia-Trade Minister asks cooking oil producers to fulfill local demand
Cooking oil producers or crude palm oil (CPO) factories are required to allocate 20 percent (of their products) for the local market.
Bandarlampung, Lampung (ANTARA) - Trade Minister Zulkifli Hasan has urged cooking oil producers in Lampung province to meet the demand in the local market in order to stabilize the price of the commodity.
"Cooking oil producers or crude palm oil (CPO) factories are required to allocate 20 percent (of their products) for the local market," he said in South Lampung district on Saturday.
The obligation is aimed at maintaining the stability of cooking oil prices in the domestic market, he explained. Antara News
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Indonesia-Red palm oil to only be produced by cooperatives: Minister
Jakarta (ANTARA) - Cooperatives and Small and Medium Enterprises (SMEs) Minister Teten Masduki stated that red palm cooking oil could only be produced by cooperatives to protect the community business.
“If (big) industries (also) produce it (red palm oil), (the cooperatives’ business) will die," he remarked at the Cooperatives and SMEs Ministry’s headquarters, here, on Friday.
However, he is optimistic that large industries would not feel threatened by the existence of the people’s red palm oil (RPO) factory, considering that the big industries’ business focus is crude palm oil (CPO) production.
He highlighted the readiness of 12 cooperatives to produce the RPO in several provinces, including North Sumatra, Riau, Jambi, Lampung, Central Kalimantan, South Kalimantan, and West Kalimantan.
The cooperatives were considered as being capable of processing RPO since they had met the minimum requirements of being able to produce 10 tons of red edible oil from 50 tons of palm oil bunches per day on one thousand hectares of land.
In addition to being used as cooking oil, RPO is useful for the pharmaceuticals sector, as it is rich in vitamin A. Antara News
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Tanzania targets ending shortage of edible oil and reliance on imports
Arusha. Edible oil is currently one of the products that are in a huge shortage with prices rapidly climbing causing some househods to stop buying it because they cannot afford it.
The trend has been the case for over a year, even before the start of the Russia-Ukraine war that began in February, this year.
The price of a 20-litre container of edible oil shot from around Sh55,000 around June 2021 to about Sh130,000 in May, 2022.
Only recently has the prices been easing to around Sh94,000 per 20-litre container.
However, the government has been strategising with the view to increasing local production of sunflower and palm oil seeds so as to reduce dependence on importation and end price fluctuations.
The goal is to produce at least a million tonnes of sunflower. The CitizenTZ
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Japan-Nissan puts new biofuel engine to the test in endurance race
Japanese automakers try greener fuels to chase carbon neutral goal with conventional cars
TOKYO -- Nissan Motor's drive to cut vehicle emissions recently took a hard road in the foothills of Mount Fuji. Nikkei Asia
KUALA LUMPUR: Asean and the European Union need to work more closely for stability, security, and prosperity of both regions.
Foreign Ministry deputy secretary-general (multilateral affairs) Datuk Cheong Loon Lai said this was more so during the current challenging time of the post-Covid-19 pandemic recovery period.
Cheong said that since December 2020, the Asean-EU relations had been elevated to the level of 'Strategic Partnership'.
"This was achieved after 45 years of active, comprehensive and multifaceted partnership.
"With regard to Malaysia-EU relations, we are proud to recognise that Malaysia and the EU have achieved a lot in the past few years.
"Likewise, Malaysia looks forward to working together with the Czech Republic in ensuring our shared commitments towards the prosperity and stability of our two regions, remain in focus," he said in his address at a reception in conjunction with the Czech Republic taking over the EU council presidency from France at Hilton Double Tree in Jalan Tun Razak. New Straits Times
--------
Malaysia-Climate change: A timebomb which cannot be ignored ― Zuraida Kamaruddin
JULY 9 ― For years, researchers have been warning us about the devastating effects climate change can cause on human lives. However, these warnings were mostly not taken seriously and many do not realise just how real the dangers are. A clear sign of this is the recent devastating floods which hit our country, causing not only destruction to property, but also loss of human lives.
Even the United Nations has warned that climate change is set to create havoc if not addressed early. Irregular rainfall and heat may severely endanger the economic development of a country which may be detrimental to a nation like ours where 7.4 per cent of our GDP is from the agriculture sector which includes rubber, cocoa, rice and palm oil.
Researchers from local universities have listed the potential impacts of climate change on Malaysia which include reduced crop yields, greater diseases among forest species, loss of biodiversity, increased flooding and decreasing water availability.
Climate change is not something to be taken lightly and recently our prime minister had also announced the formulation of the National Adaptation Plan (MyNAP) which will include long-term action plans and strategies related to the impacts of climate change. Malay Mail
--------
Indonesia-Trade Minister asks cooking oil producers to fulfill local demand
Cooking oil producers or crude palm oil (CPO) factories are required to allocate 20 percent (of their products) for the local market.
Bandarlampung, Lampung (ANTARA) - Trade Minister Zulkifli Hasan has urged cooking oil producers in Lampung province to meet the demand in the local market in order to stabilize the price of the commodity.
"Cooking oil producers or crude palm oil (CPO) factories are required to allocate 20 percent (of their products) for the local market," he said in South Lampung district on Saturday.
The obligation is aimed at maintaining the stability of cooking oil prices in the domestic market, he explained. Antara News
--------
Indonesia-Red palm oil to only be produced by cooperatives: Minister
Jakarta (ANTARA) - Cooperatives and Small and Medium Enterprises (SMEs) Minister Teten Masduki stated that red palm cooking oil could only be produced by cooperatives to protect the community business.
“If (big) industries (also) produce it (red palm oil), (the cooperatives’ business) will die," he remarked at the Cooperatives and SMEs Ministry’s headquarters, here, on Friday.
However, he is optimistic that large industries would not feel threatened by the existence of the people’s red palm oil (RPO) factory, considering that the big industries’ business focus is crude palm oil (CPO) production.
He highlighted the readiness of 12 cooperatives to produce the RPO in several provinces, including North Sumatra, Riau, Jambi, Lampung, Central Kalimantan, South Kalimantan, and West Kalimantan.
The cooperatives were considered as being capable of processing RPO since they had met the minimum requirements of being able to produce 10 tons of red edible oil from 50 tons of palm oil bunches per day on one thousand hectares of land.
In addition to being used as cooking oil, RPO is useful for the pharmaceuticals sector, as it is rich in vitamin A. Antara News
---------
Tanzania targets ending shortage of edible oil and reliance on imports
Arusha. Edible oil is currently one of the products that are in a huge shortage with prices rapidly climbing causing some househods to stop buying it because they cannot afford it.
The trend has been the case for over a year, even before the start of the Russia-Ukraine war that began in February, this year.
The price of a 20-litre container of edible oil shot from around Sh55,000 around June 2021 to about Sh130,000 in May, 2022.
Only recently has the prices been easing to around Sh94,000 per 20-litre container.
However, the government has been strategising with the view to increasing local production of sunflower and palm oil seeds so as to reduce dependence on importation and end price fluctuations.
The goal is to produce at least a million tonnes of sunflower. The CitizenTZ
--------
Japan-Nissan puts new biofuel engine to the test in endurance race
Japanese automakers try greener fuels to chase carbon neutral goal with conventional cars
TOKYO -- Nissan Motor's drive to cut vehicle emissions recently took a hard road in the foothills of Mount Fuji. Nikkei Asia
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European Parliament adopts draft SAF targets
The European Parliament on July 7 voted 334 to 95 to adopt draft rules for the ReFuelEU initiative, which aims to require sustainable aviation fuel (SAF) to account for at least 85 percent of EU aviation fuel by 2050. In late June, Members of the European Parliament (MEPs) on the Transport and Tourism Committee voted 25 to six in favor of adopting a draft negotiating mandate on the ReFuelEU aviation rules. With the full Parliament vote now complete, negotiations can now begin with member states regarding final legislation to implement the program. Biomass Magazine
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EU-Reducing the share of crop-based biodiesel would hamper food security, protein production, farmer income, and climate action in the long run.
• Reducing the share of crop-based biodiesel would have short term effects on prices and availability but sends a wrong signal to farmers and producers, discouraging production in the long run. Ultimately, the market would find a new balance at a much lower volume with no advantage on price.
• The existence of a market for crop-based biofuels leads to crop production that surpasses food demand. During food crises, this surplus can be diverted to the food market. Eliminating or reducing the crop-based biofuel market would leave our food system more vulnerable, with less flexibility to immediately respond to food crises.
• Demand for crop-based biofuels increases production of protein-rich co-products while increasing and diversifying farm revenues, both of which increase food security.
• Crop-based biodiesel also has real advantages for the climate and environment. Higher crop production boosts the availability of co-products used to replace fossil chemicals in cosmetics and others uses. Moreover, crop-based biofuels offer GHG emission savings of more than 50% compared to fossil fuels, with waste and residue-based biofuels offering reductions of up to 90%. Fediol
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Renewed Demand From China and India Helps Palm Oil Price Rise
Palm oil climbed for a second day on fresh demand from top buyers India and China after a recent selloff, with a rally in rival soybean oil prices further supporting the market.
Futures for September delivery jumped as much as 4.2% to 4,314 ringgit ($975) a ton, before closing at 4,163 ringgit in Kuala Lumpur. Soybean oil, palm’s closest food and fuel substitute, rose 1.3% in Chicago, after surging 5.2% on Thursday.
After the recent selloff in palm, the tropical oil has become the most-attractive edible oil in India, with landed prices showing a discount of about $250 per ton against other competing cooking oils, said Paramalingam Supramaniam, a director at Selangor-based broker Pelindung Bestari Bhd. Bloomberg
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Indonesia to implement B35 biodiesel from July 20 -official
JAKARTA, July 9 (Reuters) - Indonesia plans to increase the content of palm oil-based fuel in its biodiesel to 35%, known as B35, from 30%, starting on July 20, senior energy ministry official Dadan Kusdiana said late on Friday.
Indonesia currently has a mandatory 30 per cent blend of palm oil-based fuel in its biodiesel and the government had considered raising it to 35 per cent or 40 per cent to support the price of local palm oil fruits. Reuters
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Indonesia sees B40 biodiesel mix absorbing extra 2.5 mln tonnes of palm oil
JAKARTA, July 7 (Reuters) - Senior Indonesian minister Luhut Pandjaitan estimated on Thursday that an additional 2.5 million tonnes of palm oil could be absorbed by the domestic market if the country raised the amount of palm oil in its biodiesel mix to 40% (B40).
The world's biggest palm oil maker currently has a mandatory 30% blend of palm oil-based fuel in biodiesel, but is considering whether to increase the mix to help reduce inventory of the vegetable oil. Luhut added that the country may also export some of the biodiesel. Reuters
The European Parliament on July 7 voted 334 to 95 to adopt draft rules for the ReFuelEU initiative, which aims to require sustainable aviation fuel (SAF) to account for at least 85 percent of EU aviation fuel by 2050. In late June, Members of the European Parliament (MEPs) on the Transport and Tourism Committee voted 25 to six in favor of adopting a draft negotiating mandate on the ReFuelEU aviation rules. With the full Parliament vote now complete, negotiations can now begin with member states regarding final legislation to implement the program. Biomass Magazine
--------
EU-Reducing the share of crop-based biodiesel would hamper food security, protein production, farmer income, and climate action in the long run.
• Reducing the share of crop-based biodiesel would have short term effects on prices and availability but sends a wrong signal to farmers and producers, discouraging production in the long run. Ultimately, the market would find a new balance at a much lower volume with no advantage on price.
• The existence of a market for crop-based biofuels leads to crop production that surpasses food demand. During food crises, this surplus can be diverted to the food market. Eliminating or reducing the crop-based biofuel market would leave our food system more vulnerable, with less flexibility to immediately respond to food crises.
• Demand for crop-based biofuels increases production of protein-rich co-products while increasing and diversifying farm revenues, both of which increase food security.
• Crop-based biodiesel also has real advantages for the climate and environment. Higher crop production boosts the availability of co-products used to replace fossil chemicals in cosmetics and others uses. Moreover, crop-based biofuels offer GHG emission savings of more than 50% compared to fossil fuels, with waste and residue-based biofuels offering reductions of up to 90%. Fediol
--------
Renewed Demand From China and India Helps Palm Oil Price Rise
Palm oil climbed for a second day on fresh demand from top buyers India and China after a recent selloff, with a rally in rival soybean oil prices further supporting the market.
Futures for September delivery jumped as much as 4.2% to 4,314 ringgit ($975) a ton, before closing at 4,163 ringgit in Kuala Lumpur. Soybean oil, palm’s closest food and fuel substitute, rose 1.3% in Chicago, after surging 5.2% on Thursday.
After the recent selloff in palm, the tropical oil has become the most-attractive edible oil in India, with landed prices showing a discount of about $250 per ton against other competing cooking oils, said Paramalingam Supramaniam, a director at Selangor-based broker Pelindung Bestari Bhd. Bloomberg
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Indonesia to implement B35 biodiesel from July 20 -official
JAKARTA, July 9 (Reuters) - Indonesia plans to increase the content of palm oil-based fuel in its biodiesel to 35%, known as B35, from 30%, starting on July 20, senior energy ministry official Dadan Kusdiana said late on Friday.
Indonesia currently has a mandatory 30 per cent blend of palm oil-based fuel in its biodiesel and the government had considered raising it to 35 per cent or 40 per cent to support the price of local palm oil fruits. Reuters
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Indonesia sees B40 biodiesel mix absorbing extra 2.5 mln tonnes of palm oil
JAKARTA, July 7 (Reuters) - Senior Indonesian minister Luhut Pandjaitan estimated on Thursday that an additional 2.5 million tonnes of palm oil could be absorbed by the domestic market if the country raised the amount of palm oil in its biodiesel mix to 40% (B40).
The world's biggest palm oil maker currently has a mandatory 30% blend of palm oil-based fuel in biodiesel, but is considering whether to increase the mix to help reduce inventory of the vegetable oil. Luhut added that the country may also export some of the biodiesel. Reuters
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Indonesia considering cutting palm oil export levy to spur shipments
JAKARTA, July 7 (Reuters) - Indonesia is considering cutting its palm oil export levy to encourage more shipments, a cabinet minister said on Thursday, another move to spur exports after a ban designed to protect domestic cooking oil supplies saw palm oil inventories swell.
The world's biggest producer of the edible oil has unrolled a series of policies aimed at stimulating exports after a three-week ban on shipments that ended in late May triggered disruption at home and abroad.
To jumpstart exports, the government needs to make extra effort to quickly cut domestic stocks and prop up palm fruit prices for farmers that have slumped since the ban, Senior Minister Luhut Pandjaitan said at an industry event.
"For shipments to flow we may have to lower the export levy to provide incentives for businesses to export," Luhut said. He did not provide further details.
Indonesia had cut the export levy to a maximum $200 per tonne for July from $375 previously, but is due to increase the level to $240 in August. Reuters
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Malaysia-Palm oil stocks to reach 7-month high
MALAYSIA’S palm oil stocks are expected to rise by 10.5% month-on-month (MoM) to 1.68 million tonnes at the end of June 2022 due to higher output and lower exports, said CGS-CIMB Securities Sdn Bhd (CGS-CIMB Research).
CGS-CIMB Research said in a note yesterday that the stock forecast will push the palm oil inventory level to a seven-month high.
“Our June 2022 forecasts palm oil stock level in Malaysia of 1.68 million tonnes is 11% below the ten-year historical June average of 1.89 million,” CGS-CIMB said in the note.
Malaysia’s crude palm oil (CPO) output is likely to grow by 6.8% MoM, but fell 2.9% year-on-year (YoY) to 1.56 million tonnes in June 2022, based on a survey by CGS-CIMB Futures Sdn Bhd.
“The MoM increase was driven by seasonal factors and a lower base in May due to holidays,” the report stated. The Malaysian Reserve
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Palm oil halts slump as China’s stimulus plan aids commodities
(July 7): Palm oil snapped a four-day losing streak as commodities including crude oil and metals jumped on China’s US$220 billion stimulus plan.
Futures for September delivery rose 2.1% to close at RM4,140 (US$935) a ton, reversing an earlier slump of 4.8%.
China is considering allowing local governments to sell 1.5 trillion yuan (US$220 billion) of special bonds in the second half, an unprecedented acceleration of infrastructure funding. The Edge Markets
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Indonesia-Jokowi Scheduled to Meet Palm Oil Farmers During Visit to Medan
Jakarta - During the second day of his work visit to North Sumatra, President Joko “Jokowi” Widodo is scheduled to meet a number of palm oil farmers in the city of Medan.
The President spent his first day in the region monitoring the construction of infrastructures in Nias, the Presidential Palace announced on July 7.
Apart from opening a dialogue with farmers, he will also be present in distributing social government aid who are the rightful owners of the Hopeful Family Program (PKH) and traders.
Jokowi will finish his second day to attend the 29th peak national family day (Harganas). He will then return to Jakarta at the end of his work visit. Tempo
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Malaysia-MPIC to step up palm oil promotional efforts
The promotional efforts are to prevent palm oil from being ‘eliminated totally’ as an EU biofuel source in 2030, minister says
THE Ministry of Plantation, Industries and Commodities (MPIC) will step up effort to promote palm oil before being “eliminated totally” as a European Union (EU) biofuel source in 2030.
Minister Datuk Zuraida Kamaruddin said MPIC together with relevant government agencies will intensify stakeholders’ engagement abroad to counter anti-palm oil allegations and narratives.
“I will ensure MPIC and related agencies like Malaysian Palm Oil Board step up efforts to engage with stakeholders overseas. I myself have led numerous trade missions to counter anti-palm oil allegations and narratives,” she said in a statement today.
According to her, the response has been overwhelming and she believes that Malaysian palm oil will gain increased acceptance and may even be the dominant edible oil in non-traditional markets like Europe.
The MPIC, Zuraida said, has to come to terms with a potentially steady decline of palm-based biofuels imports from the EU with exports this year seen at their lowest level in five years. The Malaysian Reserve
JAKARTA, July 7 (Reuters) - Indonesia is considering cutting its palm oil export levy to encourage more shipments, a cabinet minister said on Thursday, another move to spur exports after a ban designed to protect domestic cooking oil supplies saw palm oil inventories swell.
The world's biggest producer of the edible oil has unrolled a series of policies aimed at stimulating exports after a three-week ban on shipments that ended in late May triggered disruption at home and abroad.
To jumpstart exports, the government needs to make extra effort to quickly cut domestic stocks and prop up palm fruit prices for farmers that have slumped since the ban, Senior Minister Luhut Pandjaitan said at an industry event.
"For shipments to flow we may have to lower the export levy to provide incentives for businesses to export," Luhut said. He did not provide further details.
Indonesia had cut the export levy to a maximum $200 per tonne for July from $375 previously, but is due to increase the level to $240 in August. Reuters
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Malaysia-Palm oil stocks to reach 7-month high
MALAYSIA’S palm oil stocks are expected to rise by 10.5% month-on-month (MoM) to 1.68 million tonnes at the end of June 2022 due to higher output and lower exports, said CGS-CIMB Securities Sdn Bhd (CGS-CIMB Research).
CGS-CIMB Research said in a note yesterday that the stock forecast will push the palm oil inventory level to a seven-month high.
“Our June 2022 forecasts palm oil stock level in Malaysia of 1.68 million tonnes is 11% below the ten-year historical June average of 1.89 million,” CGS-CIMB said in the note.
Malaysia’s crude palm oil (CPO) output is likely to grow by 6.8% MoM, but fell 2.9% year-on-year (YoY) to 1.56 million tonnes in June 2022, based on a survey by CGS-CIMB Futures Sdn Bhd.
“The MoM increase was driven by seasonal factors and a lower base in May due to holidays,” the report stated. The Malaysian Reserve
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Palm oil halts slump as China’s stimulus plan aids commodities
(July 7): Palm oil snapped a four-day losing streak as commodities including crude oil and metals jumped on China’s US$220 billion stimulus plan.
Futures for September delivery rose 2.1% to close at RM4,140 (US$935) a ton, reversing an earlier slump of 4.8%.
China is considering allowing local governments to sell 1.5 trillion yuan (US$220 billion) of special bonds in the second half, an unprecedented acceleration of infrastructure funding. The Edge Markets
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Indonesia-Jokowi Scheduled to Meet Palm Oil Farmers During Visit to Medan
Jakarta - During the second day of his work visit to North Sumatra, President Joko “Jokowi” Widodo is scheduled to meet a number of palm oil farmers in the city of Medan.
The President spent his first day in the region monitoring the construction of infrastructures in Nias, the Presidential Palace announced on July 7.
Apart from opening a dialogue with farmers, he will also be present in distributing social government aid who are the rightful owners of the Hopeful Family Program (PKH) and traders.
Jokowi will finish his second day to attend the 29th peak national family day (Harganas). He will then return to Jakarta at the end of his work visit. Tempo
--------
Malaysia-MPIC to step up palm oil promotional efforts
The promotional efforts are to prevent palm oil from being ‘eliminated totally’ as an EU biofuel source in 2030, minister says
THE Ministry of Plantation, Industries and Commodities (MPIC) will step up effort to promote palm oil before being “eliminated totally” as a European Union (EU) biofuel source in 2030.
Minister Datuk Zuraida Kamaruddin said MPIC together with relevant government agencies will intensify stakeholders’ engagement abroad to counter anti-palm oil allegations and narratives.
“I will ensure MPIC and related agencies like Malaysian Palm Oil Board step up efforts to engage with stakeholders overseas. I myself have led numerous trade missions to counter anti-palm oil allegations and narratives,” she said in a statement today.
According to her, the response has been overwhelming and she believes that Malaysian palm oil will gain increased acceptance and may even be the dominant edible oil in non-traditional markets like Europe.
The MPIC, Zuraida said, has to come to terms with a potentially steady decline of palm-based biofuels imports from the EU with exports this year seen at their lowest level in five years. The Malaysian Reserve
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How Indonesia is laying the fertile grounds for sustainable agriculture
Dr. Ir. Fadjry Djufry, M.Si Director General of the Indonesian Agency for Agricultural Research and Development shares how the organisation is championing sustainable agriculture and improving the country’s agricultural productivity.
“Without access to modern farming techniques…farmers’ livelihoods hinge precariously on a changing environment that they’re struggling to understand,” the US Agency for International Development said. In particular, the agriculture landscape in Indonesia is ruled by many small family farms, who view their labour as a spiritual and existential duty.
Getting them to break away from traditional methods is not easy, but leading this shift is the Indonesian Agency for Agricultural Research and Development (IAARD). The agency plays a pivotal role in delivering the tech that makes farming more sustainable, improves food security, and increases agricultural productivity.
Dr. Ir. Fadjry Djufry, M.Si Director General of the Indonesian Agency for Agricultural Research and Development highlights why there is a need for sustainable farming and mentions case studies of agritech innovations. GovInsider
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Malaysia-CPO futures close lower on concerns over higher supply
KUALA LUMPUR (July 4): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Monday (July 4) on concerns over higher supply in the local market.
Singapore-based Palm Oil Analytics’ owner and co-founder Sathia Varqa said this was following the move from the world’s top palm oil producer Indonesia to raise its palm oil export quota, a move seen as putting pressure on Malaysia’s exports.
“The higher export share from Indonesia would increase competition for Malaysia because more of Indonesia’s exports would go to countries like India and China,” he said. The Edge Markets
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Malaysia-Palm oil plummets as Indonesian exports set to 'flood' market
KUALA LUMPUR/SINGAPORE (July 4): Palm oil slumped more than 7% to the lowest close since December after top producer Indonesia announced an increase in export quotas in an attempt to cut bloated domestic inventories.
Futures for September delivery, the most active contract, plunged as much as 10% to RM4,238 a ton in Kuala Lumpur, before closing at RM4,348. The tropical oil is down about 40% from the record close in April.
Investors have been whipsawed by the twists and turns of Indonesia's palm oil policy as the country boosts exports after a temporary ban in April and May. It will now allow producers to export volumes at a rate of seven times their domestic sales obligation, up from five times. The Edge Markets
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Trade Minister Reacts to Farmers Selling Palm Oil FFB to Malaysia
TEMPO.CO, Jakarta - Trade Minister Zulkifli Hasan responded to viral news on social media that farmers selling fresh fruit bunches of palm oil to Malaysia. He said this condition was common because their price in Malaysia is much higher than in Indonesia.
“That's common. There (in Malaysia) it is sold at Rp4,500 (per kilogram), while here it’s only Rp1,000 (per kilogram). This is because the previous policy didn't have the right impact on it,” said Zulkifli at the Trade Ministry building in Central Jakarta, Monday, July 4, 2022.
He assessed that this situation occurred because of the government’s ban on the export of crude palm oil or CPO. Albeit the CPO export faucet has been opened, the absorption of oil palm fresh fruit bunches has not been optimized and causing the prices at the farmer level to fall. Tempo
Dr. Ir. Fadjry Djufry, M.Si Director General of the Indonesian Agency for Agricultural Research and Development shares how the organisation is championing sustainable agriculture and improving the country’s agricultural productivity.
“Without access to modern farming techniques…farmers’ livelihoods hinge precariously on a changing environment that they’re struggling to understand,” the US Agency for International Development said. In particular, the agriculture landscape in Indonesia is ruled by many small family farms, who view their labour as a spiritual and existential duty.
Getting them to break away from traditional methods is not easy, but leading this shift is the Indonesian Agency for Agricultural Research and Development (IAARD). The agency plays a pivotal role in delivering the tech that makes farming more sustainable, improves food security, and increases agricultural productivity.
Dr. Ir. Fadjry Djufry, M.Si Director General of the Indonesian Agency for Agricultural Research and Development highlights why there is a need for sustainable farming and mentions case studies of agritech innovations. GovInsider
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Malaysia-CPO futures close lower on concerns over higher supply
KUALA LUMPUR (July 4): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Monday (July 4) on concerns over higher supply in the local market.
Singapore-based Palm Oil Analytics’ owner and co-founder Sathia Varqa said this was following the move from the world’s top palm oil producer Indonesia to raise its palm oil export quota, a move seen as putting pressure on Malaysia’s exports.
“The higher export share from Indonesia would increase competition for Malaysia because more of Indonesia’s exports would go to countries like India and China,” he said. The Edge Markets
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Malaysia-Palm oil plummets as Indonesian exports set to 'flood' market
KUALA LUMPUR/SINGAPORE (July 4): Palm oil slumped more than 7% to the lowest close since December after top producer Indonesia announced an increase in export quotas in an attempt to cut bloated domestic inventories.
Futures for September delivery, the most active contract, plunged as much as 10% to RM4,238 a ton in Kuala Lumpur, before closing at RM4,348. The tropical oil is down about 40% from the record close in April.
Investors have been whipsawed by the twists and turns of Indonesia's palm oil policy as the country boosts exports after a temporary ban in April and May. It will now allow producers to export volumes at a rate of seven times their domestic sales obligation, up from five times. The Edge Markets
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Trade Minister Reacts to Farmers Selling Palm Oil FFB to Malaysia
TEMPO.CO, Jakarta - Trade Minister Zulkifli Hasan responded to viral news on social media that farmers selling fresh fruit bunches of palm oil to Malaysia. He said this condition was common because their price in Malaysia is much higher than in Indonesia.
“That's common. There (in Malaysia) it is sold at Rp4,500 (per kilogram), while here it’s only Rp1,000 (per kilogram). This is because the previous policy didn't have the right impact on it,” said Zulkifli at the Trade Ministry building in Central Jakarta, Monday, July 4, 2022.
He assessed that this situation occurred because of the government’s ban on the export of crude palm oil or CPO. Albeit the CPO export faucet has been opened, the absorption of oil palm fresh fruit bunches has not been optimized and causing the prices at the farmer level to fall. Tempo
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EU Commission fails to assuage MEPs’ concerns over alleged biofuels fraud
The European Commission has rebuffed a request by Parliament lawmakers to turn over information related to used cooking oil (UCO) imports, maintaining that it is not in possession of the documents requested. However, it did admit that the risk of “false claims” surrounding UCO imports represents “a particular concern”.
EU Environment Commissioner Kadri Simson responded in writing to a petition from Greens MEPs that the EU executive release data on the origins and quantities of UCO imports – a biofuels feedstock that has been linked to fraud concerns.
Five Greens lawmakers – Ciarán Cuffe, Jutta Paulus, Ville Niinistö, Martin Häusling, and Rasmus Andresen – sent letters to the EU executive in April formally asking for all data obtained under voluntary UCO certification schemes to be made public.
The MEPs’ letters came in the wake of a finding of “maladministration” towards the European Commission by the EU Ombudsman. The Strasbourg-based watchdog made the ruling due to the Commission’s refusal to furnish information on UCO imports in response to a citizen request. Euractiv
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Indonesia-130 CPO, Cooking Oil Companies Registered with Simirah
TEMPO.CO, Jakarta - The Industry Ministry recorded that as of July 1st, 130 companies have registered with the Bulk Cooking Oil Information System or Simirah 2.0. Simirah is a digital technology system for managing and supervising the distribution of bulk cooking oil.
Of the companies that have registered, 51 are CPO producers, of which 24 have received registration numbers. The remaining 79 are Palm Cooking Oil (MGS) producers, of which 74 have received registration numbers.
The ministry's director general of agro-industry Putu Juli Ardika said on Monday that no producers were rejected. "Of all that registered, none were turned down. As for those that still haven't gotten their registration number; [their applications] are still being verified or [they are in the process of] completing the data required," he said. Tempo
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Malaysian palm oil exporters may face stiff competition in coming months, says PublicInvest
KUALA LUMPUR (July 4): PublicInvest Research has maintained its “neutral” rating on the plantation sector and said Malaysian palm oil exporters may be facing stiffer competition in the coming months as Indonesia has proposed to raise palm oil export quotas last Friday due to excessive palm oil inventories in the world’s largest producing country.
In a sector update on Monday (July 4), the research house said following this announcement, crude palm oil (CPO) futures tumbled 4.2% or RM207 to RM4,703/mt.
“This does not bode well for Malaysian upstream plantation players as margins are shrinking sharply amid the high production costs. The Edge Markets
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Nigeria-Palm Oil Import Threatens FG’s 7.7mt Production Target
More palm oil imports into the country is threatening the Federal Government’s target to make Nigeria net exporter of the commodity by 2028. The Central Bank of Nigeria (CBN) had disbursed a total sum of N45.03 billion to stakeholders in the oil palm industry, including the major producers, small and medium enterprises (SMEs) and small holders’ operators, to cultivate about 31, 442 hectares to grow oil palm trees.
The bank noted that the ultimate objective of its intervention in the oil palm sector was to overtake Thailand and Colombia and to become the third-largest producer by 2028 through the cultivation of 350,000 hectares. The plan is also to raise domestic output of 1.1 million tonnes by 700 per cent or 7.7 million by 2027 as the price moves up by 34.7 per cent from $752 to $1,152.33 per tonne in June, 2022 in Malaysia.
However, findings revealed that between 2020 and 2021, the country has imported N275.4 billion ($458.95 million) of the produce when domestic production was just 1.4 million as at 2021. In the first quarter of 2021, the National Bureau of Statistics (NBS) revealed that the country imported N68.2 billion of palm oil from China and Malaysia, while total imports from three countries stood at $118 million. New TelegraphNG
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India-Despite objections, Assam inks pact with Patanjali for oil palm plantation in State
Guwahati: Despite environmental experts and politicians raising objections against the Centre’s move for oil palm cultivation in the Northeast, the Assam government has signed a pact with Patanjali Food Limited for oil palm plantation and setting up oil mills in Assam.
Ruchi Soya Industries Limited, (now known as Patanjali Foods Ltd) has been allocated Assam’s seven districts–Tinsukia, Jorhat, Golaghat, Nagaon, Kamrup and parts of Goalpara– to promote oil palm cultivation.
A memorandum of understanding was signed by the Department of Agriculture, Govt of Assam and Ruchi Soya Industries Limited recently to commensurate the allocation of the districts. North East Now
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Nigeria-Profit-making idea: Turning Africa’s agricultural waste into electricity
There is significant potential in Africa to convert agricultural waste into electricity, according to Ikenna Nzewi, CEO and co-founder of Nigeria-based Releaf, a company that develops equipment and software to make the oil palm value chain more efficient and profitable.
Plant-based organic material, also called biomass, can be converted into heat and electricity using processes similar to those used with fossil fuels. There are three ways to release the energy stored in biomass to produce power: burning, bacterial decay, and conversion to gas/liquid fuel.
The palm oil processing industry alone generates substantial organic waste which can be used for electricity generation. “I think there is huge potential in biomass electrification and it is a key area in which Africa needs to take a more active role in the research and development,” Nzewi said during a panel discussion at the Africa CEO Forum, which was recently hosted in Abidjan, Côte d’Ivoire. How We Made it in Africa
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Ghana-Study: Red Palm Oil Lowers Cholesterol, slows Heart diseases
When it comes to cooking oils, Palm oil appears to be controversial.
Additionally, Palm oil should not be confused with palm kernel oil. Though both have their root from the same plant, palm kernel oil is extracted from the seed of the fruit. It provides different health benefits. Palm oil has a variety of medicinal uses in Africa as well. It was used as an antidote for poison, a cure for gonorrhea, a natural laxative, a diuretic, and a treatment for headaches and skin infections. This article brings an objective analysis of Palm oil to settle the long-standing controversy.
Unrefined vs. refined palm oil
Unrefined palm oil is raw oil that is pressed directly from the palm plant. It’s reddish, with a distinct odor and flavor. This type is more often used in our traditional cooking. Refined palm oil goes through several processing steps to give it a neutral color and flavor. It is used more widely in food manufacturing or for frying mass-produced foods.
Palm oil nutritional Profile
According to the US. Department of Agriculture, one tablespoon (14 grams) of palm oil contains approximately: News Ghana
The European Commission has rebuffed a request by Parliament lawmakers to turn over information related to used cooking oil (UCO) imports, maintaining that it is not in possession of the documents requested. However, it did admit that the risk of “false claims” surrounding UCO imports represents “a particular concern”.
EU Environment Commissioner Kadri Simson responded in writing to a petition from Greens MEPs that the EU executive release data on the origins and quantities of UCO imports – a biofuels feedstock that has been linked to fraud concerns.
Five Greens lawmakers – Ciarán Cuffe, Jutta Paulus, Ville Niinistö, Martin Häusling, and Rasmus Andresen – sent letters to the EU executive in April formally asking for all data obtained under voluntary UCO certification schemes to be made public.
The MEPs’ letters came in the wake of a finding of “maladministration” towards the European Commission by the EU Ombudsman. The Strasbourg-based watchdog made the ruling due to the Commission’s refusal to furnish information on UCO imports in response to a citizen request. Euractiv
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Indonesia-130 CPO, Cooking Oil Companies Registered with Simirah
TEMPO.CO, Jakarta - The Industry Ministry recorded that as of July 1st, 130 companies have registered with the Bulk Cooking Oil Information System or Simirah 2.0. Simirah is a digital technology system for managing and supervising the distribution of bulk cooking oil.
Of the companies that have registered, 51 are CPO producers, of which 24 have received registration numbers. The remaining 79 are Palm Cooking Oil (MGS) producers, of which 74 have received registration numbers.
The ministry's director general of agro-industry Putu Juli Ardika said on Monday that no producers were rejected. "Of all that registered, none were turned down. As for those that still haven't gotten their registration number; [their applications] are still being verified or [they are in the process of] completing the data required," he said. Tempo
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Malaysian palm oil exporters may face stiff competition in coming months, says PublicInvest
KUALA LUMPUR (July 4): PublicInvest Research has maintained its “neutral” rating on the plantation sector and said Malaysian palm oil exporters may be facing stiffer competition in the coming months as Indonesia has proposed to raise palm oil export quotas last Friday due to excessive palm oil inventories in the world’s largest producing country.
In a sector update on Monday (July 4), the research house said following this announcement, crude palm oil (CPO) futures tumbled 4.2% or RM207 to RM4,703/mt.
“This does not bode well for Malaysian upstream plantation players as margins are shrinking sharply amid the high production costs. The Edge Markets
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Nigeria-Palm Oil Import Threatens FG’s 7.7mt Production Target
More palm oil imports into the country is threatening the Federal Government’s target to make Nigeria net exporter of the commodity by 2028. The Central Bank of Nigeria (CBN) had disbursed a total sum of N45.03 billion to stakeholders in the oil palm industry, including the major producers, small and medium enterprises (SMEs) and small holders’ operators, to cultivate about 31, 442 hectares to grow oil palm trees.
The bank noted that the ultimate objective of its intervention in the oil palm sector was to overtake Thailand and Colombia and to become the third-largest producer by 2028 through the cultivation of 350,000 hectares. The plan is also to raise domestic output of 1.1 million tonnes by 700 per cent or 7.7 million by 2027 as the price moves up by 34.7 per cent from $752 to $1,152.33 per tonne in June, 2022 in Malaysia.
However, findings revealed that between 2020 and 2021, the country has imported N275.4 billion ($458.95 million) of the produce when domestic production was just 1.4 million as at 2021. In the first quarter of 2021, the National Bureau of Statistics (NBS) revealed that the country imported N68.2 billion of palm oil from China and Malaysia, while total imports from three countries stood at $118 million. New TelegraphNG
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India-Despite objections, Assam inks pact with Patanjali for oil palm plantation in State
Guwahati: Despite environmental experts and politicians raising objections against the Centre’s move for oil palm cultivation in the Northeast, the Assam government has signed a pact with Patanjali Food Limited for oil palm plantation and setting up oil mills in Assam.
Ruchi Soya Industries Limited, (now known as Patanjali Foods Ltd) has been allocated Assam’s seven districts–Tinsukia, Jorhat, Golaghat, Nagaon, Kamrup and parts of Goalpara– to promote oil palm cultivation.
A memorandum of understanding was signed by the Department of Agriculture, Govt of Assam and Ruchi Soya Industries Limited recently to commensurate the allocation of the districts. North East Now
--------
Nigeria-Profit-making idea: Turning Africa’s agricultural waste into electricity
There is significant potential in Africa to convert agricultural waste into electricity, according to Ikenna Nzewi, CEO and co-founder of Nigeria-based Releaf, a company that develops equipment and software to make the oil palm value chain more efficient and profitable.
Plant-based organic material, also called biomass, can be converted into heat and electricity using processes similar to those used with fossil fuels. There are three ways to release the energy stored in biomass to produce power: burning, bacterial decay, and conversion to gas/liquid fuel.
The palm oil processing industry alone generates substantial organic waste which can be used for electricity generation. “I think there is huge potential in biomass electrification and it is a key area in which Africa needs to take a more active role in the research and development,” Nzewi said during a panel discussion at the Africa CEO Forum, which was recently hosted in Abidjan, Côte d’Ivoire. How We Made it in Africa
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Ghana-Study: Red Palm Oil Lowers Cholesterol, slows Heart diseases
When it comes to cooking oils, Palm oil appears to be controversial.
Additionally, Palm oil should not be confused with palm kernel oil. Though both have their root from the same plant, palm kernel oil is extracted from the seed of the fruit. It provides different health benefits. Palm oil has a variety of medicinal uses in Africa as well. It was used as an antidote for poison, a cure for gonorrhea, a natural laxative, a diuretic, and a treatment for headaches and skin infections. This article brings an objective analysis of Palm oil to settle the long-standing controversy.
Unrefined vs. refined palm oil
Unrefined palm oil is raw oil that is pressed directly from the palm plant. It’s reddish, with a distinct odor and flavor. This type is more often used in our traditional cooking. Refined palm oil goes through several processing steps to give it a neutral color and flavor. It is used more widely in food manufacturing or for frying mass-produced foods.
Palm oil nutritional Profile
According to the US. Department of Agriculture, one tablespoon (14 grams) of palm oil contains approximately: News Ghana
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Indonesia-MInister Luhut urges Trade Ministry to expedite CPO exports
Jakarta (ANTARA) - Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan urged the Trade Ministry to accelerate the export of crude palm oil (CPO) and cooking oil raw material to increase the price of fresh fruit bunches.
To expedite the export of CPO and cooking oil raw material, the Trade Ministry can raise its multiplier ratio to seven times as much as the domestic market obligation (DMO) - a rule that requires CPO producers to sell a quarter of their production to local companies.
"I ask the Trade Ministry to raise the export multiplier to seven times, as of July 1, with the ultimate goal of raising significantly the price of fresh fruit bunches at the farmer's level," Pandjaitain stated at a meeting held to evaluate the cooking oil control policy here on Friday, as quoted from a written statement on Saturday. Antara News
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EU-ASEAN-Emerging Asia at risk from EU’s protectionist carbon border tax
One key piece of climate policy on the table was the carbon border adjustment mechanism (CBAM) which holds exporters accountable for the direct and embedded emissions of their goods as they enter the EU.
Coming into effect in January 2023, the so-called carbon border tax covers industries and commodities including iron and steel, refineries, cement and fertilisers, and was recently expanded to include organic chemicals, plastics, hydrogen and ammonia.
Though a tool to encourage climate action, the CBAM raises critical questions about emissions accountability. Crucially, it points to growing trade and climate protectionism that will critically disadvantage emerging economies in the Global South. Developing nations, in Asia especially, should take note. SCMP
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India-Assam inks MoU with Patanjali Foods for oil palm plantation and mill
Ruchi Soya Industries Ltd name has been recently changed and is effectively known as Patanjali Foods Limited from July 1, 2022.
Guwahati: Assam government has signed a MoU with Ruchi Soya Industries Limited, now known as Patanjali Food Limited, for oil palm plantation and oil mill in Assam.
Ruchi Soya Industries Limited, (now known as Patanjali Foods Ltd) is a major player in the oil palm sector for many years now and has oil palm operations running in 9 states of India, including Mizoram and Arunachal Pradesh.
Ruchi Soya have been allocated seven districts (Tinsukia, Jorhat, Golaghat, Nagaon, Kamrup and parts of Goalpara) of Assam to promote oil palm cultivation.
A memorandum of understanding was signed by Department of Agriculture, Govt of Assam and Ruchi Soya Industries Limited recently to commensurate the allocation of the districts. East Mojo
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India-Telangana Farmers Are Switching to Oil Palm Cultivation to Get Higher Returns
Farmers are being urged by the district government to convert to the new crop. It provides farmers with a supply of saplings as support. For these, the government is growing 1.93 lakh plants in nurseries covering 3,876 acres.
Oil palm is the newest agricultural buzzword in the district of Adilabad. This crop delivers the farmer a bountiful harvest in exchange for relatively little input. The payoff is assured since there is always a need for goods and services.
After burning their fingers with conventional crops that are often subject to harsh market fluctuations, farmers in the area are now switching to oil palm in search of higher returns.
Government Support to Farmers
Farmers are being urged by the district government to convert to the new crop. It provides farmers with a supply of saplings as support. For these, the government is growing 1.93 lakh plants in nurseries covering 3,876 acres.
The government authorities want to encourage the farmers to plant oil palms on 1,368 acres. They are getting ready to give out 68,400 plants. To distribute the plants to the farmers who have been recognized for cultivating the oil palm crop, mandalas have been separated into the Both, Talmadugu Indervalli, Gudithanoor, and Narnoor clusters. Krishi Jagan
Jakarta (ANTARA) - Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan urged the Trade Ministry to accelerate the export of crude palm oil (CPO) and cooking oil raw material to increase the price of fresh fruit bunches.
To expedite the export of CPO and cooking oil raw material, the Trade Ministry can raise its multiplier ratio to seven times as much as the domestic market obligation (DMO) - a rule that requires CPO producers to sell a quarter of their production to local companies.
"I ask the Trade Ministry to raise the export multiplier to seven times, as of July 1, with the ultimate goal of raising significantly the price of fresh fruit bunches at the farmer's level," Pandjaitain stated at a meeting held to evaluate the cooking oil control policy here on Friday, as quoted from a written statement on Saturday. Antara News
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EU-ASEAN-Emerging Asia at risk from EU’s protectionist carbon border tax
- The EU tax shifts the carbon burden to the commodity-rich emerging economies least responsible for today’s climate crisis while fattening its Covid-19 relief fund
- Singapore, as a leading regional carbon services hub, offers some solutions but Asia as a whole needs to find pragmatic ways to defend against climate inequality
One key piece of climate policy on the table was the carbon border adjustment mechanism (CBAM) which holds exporters accountable for the direct and embedded emissions of their goods as they enter the EU.
Coming into effect in January 2023, the so-called carbon border tax covers industries and commodities including iron and steel, refineries, cement and fertilisers, and was recently expanded to include organic chemicals, plastics, hydrogen and ammonia.
Though a tool to encourage climate action, the CBAM raises critical questions about emissions accountability. Crucially, it points to growing trade and climate protectionism that will critically disadvantage emerging economies in the Global South. Developing nations, in Asia especially, should take note. SCMP
--------
India-Assam inks MoU with Patanjali Foods for oil palm plantation and mill
Ruchi Soya Industries Ltd name has been recently changed and is effectively known as Patanjali Foods Limited from July 1, 2022.
Guwahati: Assam government has signed a MoU with Ruchi Soya Industries Limited, now known as Patanjali Food Limited, for oil palm plantation and oil mill in Assam.
Ruchi Soya Industries Limited, (now known as Patanjali Foods Ltd) is a major player in the oil palm sector for many years now and has oil palm operations running in 9 states of India, including Mizoram and Arunachal Pradesh.
Ruchi Soya have been allocated seven districts (Tinsukia, Jorhat, Golaghat, Nagaon, Kamrup and parts of Goalpara) of Assam to promote oil palm cultivation.
A memorandum of understanding was signed by Department of Agriculture, Govt of Assam and Ruchi Soya Industries Limited recently to commensurate the allocation of the districts. East Mojo
--------
India-Telangana Farmers Are Switching to Oil Palm Cultivation to Get Higher Returns
Farmers are being urged by the district government to convert to the new crop. It provides farmers with a supply of saplings as support. For these, the government is growing 1.93 lakh plants in nurseries covering 3,876 acres.
Oil palm is the newest agricultural buzzword in the district of Adilabad. This crop delivers the farmer a bountiful harvest in exchange for relatively little input. The payoff is assured since there is always a need for goods and services.
After burning their fingers with conventional crops that are often subject to harsh market fluctuations, farmers in the area are now switching to oil palm in search of higher returns.
Government Support to Farmers
Farmers are being urged by the district government to convert to the new crop. It provides farmers with a supply of saplings as support. For these, the government is growing 1.93 lakh plants in nurseries covering 3,876 acres.
The government authorities want to encourage the farmers to plant oil palms on 1,368 acres. They are getting ready to give out 68,400 plants. To distribute the plants to the farmers who have been recognized for cultivating the oil palm crop, mandalas have been separated into the Both, Talmadugu Indervalli, Gudithanoor, and Narnoor clusters. Krishi Jagan
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EU-‘Full of more holes than Swiss cheese’? Europe accused of watering down its deforestation due diligence regulation
The European Council has backed Commission proposals designed to combat deforestation linked to consumer goods sold in the region – but with some important carve-outs. As environmentalists accuse EU Environment Ministers of ‘significantly watering down’ the initiative, we look at whether the latest proposals can still help stamp out deforestation linked to commodities like palm oil, beef, cocoa, coffee and soy. Food Navigator
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Ukraine war’s collateral damage: Britain’s beloved fish and chip shops
CHORLEY, England — It is a perilous time for fish and chips, the golden fried food for the masses, celebrated as Britain’s “favorite meal” and “the national dish.”
As it turns out, a lot of that fish comes from Russian trawlers and the sunflower oil from Ukrainian fields.
With Russia’s war raging in Ukraine, that means skyrocketing prices for hungry Brits. The ingredients for an order of fish and chips — by design cheap and caloric — now cost more than twice as much as at the start of the year.
And so we find ourselves with Andrew Crook, president of the National Federation of Fish Frers, standing outside a shuttered “chippy” in this small town about 20 miles northwest of Manchester. His organization estimates that a third of the United Kingdom’s 10,500 fish and chip shops will go out of business in the coming year.
“We’ve survived through two world wars, a depression, multiple recessions. We’ve never seen anything like this,” said Crook, who owns a nearby shop, Skippers of Euxton, where he is about to raise prices in the hope of staying afloat. Washington Post
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Uganda-Edible oil crisis plunges households into the fire
What you need to know:
Information from the Kenya Ports Authority shows that May 19 was the last time palm oil and vegetable oil tankers docked at the coastal city of Mombasa in southeastern Kenya.
No edible oil-related imports came through Kenya to the hinterland in the last quarter of the Financial Year 2021/2022, leaving many households in Uganda to scrape by amid soaring costs of cooking oil and soap.
In the last week of the last quarter of the FY2021/2022, a litre of cooking oil retailed anywhere between Shs8,000 and Shs10,000. A bar of soap (one kilogramme), meanwhile, oscillated between Shs7,500 and Shs10,000 in various retail outlets.
Hard information from the Kenya Ports Authority shows that May 19, 2022, was the last time palm oil and vegetable oil tankers docked at the coastal city of Mombasa in southeastern Kenya. MonitorUG
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Nigeria-Solidaridad charges oil palm farmers to secure environment, improve productivity
A Solution – oriented organization, Solidaridad Nigeria, has charged oil palm smallholder armers to embrace sustainable oil palm production in order to secure the environment and improve productivity.
The programme manager, oil palm/country management lead, Solidaridad Nigeria Kenechukwu Onukwube gave the charge in Lokoja at a multi stakeholders workshop organized for the Multi Stakeholders Platform (MSP) from Dekina, Olamaboro and Ofu local government areas where the project operates in Kogi state.
According to him , the organization has come up with the best management practices that will educate oil palm smallholder farmers on how to apply fertilizer and the use of improved planting materials.
“We are advising palm oil farmers to make a replacement of the any cut palm oil trees or go to vast land where there are shrubs to plant oil palm that will help to reclaim the environment.
“We are also warning oil palm farmers against improper application of fertilizer which has been a major problem as it becomes injurious to the ecosystem . Farmers should know the rate of fertilizer to apply and at the appropriate time so that it will not be inimical to the environment. BluePrintNG
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Pakistan-Edible oil production to be raised to 4.8m tons in 10 years: Iqbal
ISLAMABAD: In an effort to take the country towards self reliance in food commodities, especially in edible oil, the government has planned increasing the annual domestic edible oil production up to 4.793 million tons in 10 years.
Currently, the country produces 0.745 million tons of edible oil annually, which is only 8% of the total domestic demand for the commodity of over 5 million tons.
In a meeting held here, presided over by Minister for Planning and Development Ahsan Iqbal, it was informed that in order to meet the demand, Pakistan imports 4.5 million tons of edible oil annually.
The move would help minimizing the huge import bill of the food group that was recorded at US$7.575 billion during first 11 months (Jul-May) of the year 2021-22.
The import of palm oil was recorded at $3,058 billion while that soyabean oil stood at $217.7 million during the period under review.
The meeting that was held to review the plans with respect to achieving self dependency in the edible oil here today. Pakistan Today
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The European Council has backed Commission proposals designed to combat deforestation linked to consumer goods sold in the region – but with some important carve-outs. As environmentalists accuse EU Environment Ministers of ‘significantly watering down’ the initiative, we look at whether the latest proposals can still help stamp out deforestation linked to commodities like palm oil, beef, cocoa, coffee and soy. Food Navigator
--------
Ukraine war’s collateral damage: Britain’s beloved fish and chip shops
CHORLEY, England — It is a perilous time for fish and chips, the golden fried food for the masses, celebrated as Britain’s “favorite meal” and “the national dish.”
As it turns out, a lot of that fish comes from Russian trawlers and the sunflower oil from Ukrainian fields.
With Russia’s war raging in Ukraine, that means skyrocketing prices for hungry Brits. The ingredients for an order of fish and chips — by design cheap and caloric — now cost more than twice as much as at the start of the year.
And so we find ourselves with Andrew Crook, president of the National Federation of Fish Frers, standing outside a shuttered “chippy” in this small town about 20 miles northwest of Manchester. His organization estimates that a third of the United Kingdom’s 10,500 fish and chip shops will go out of business in the coming year.
“We’ve survived through two world wars, a depression, multiple recessions. We’ve never seen anything like this,” said Crook, who owns a nearby shop, Skippers of Euxton, where he is about to raise prices in the hope of staying afloat. Washington Post
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Uganda-Edible oil crisis plunges households into the fire
What you need to know:
Information from the Kenya Ports Authority shows that May 19 was the last time palm oil and vegetable oil tankers docked at the coastal city of Mombasa in southeastern Kenya.
No edible oil-related imports came through Kenya to the hinterland in the last quarter of the Financial Year 2021/2022, leaving many households in Uganda to scrape by amid soaring costs of cooking oil and soap.
In the last week of the last quarter of the FY2021/2022, a litre of cooking oil retailed anywhere between Shs8,000 and Shs10,000. A bar of soap (one kilogramme), meanwhile, oscillated between Shs7,500 and Shs10,000 in various retail outlets.
Hard information from the Kenya Ports Authority shows that May 19, 2022, was the last time palm oil and vegetable oil tankers docked at the coastal city of Mombasa in southeastern Kenya. MonitorUG
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Nigeria-Solidaridad charges oil palm farmers to secure environment, improve productivity
A Solution – oriented organization, Solidaridad Nigeria, has charged oil palm smallholder armers to embrace sustainable oil palm production in order to secure the environment and improve productivity.
The programme manager, oil palm/country management lead, Solidaridad Nigeria Kenechukwu Onukwube gave the charge in Lokoja at a multi stakeholders workshop organized for the Multi Stakeholders Platform (MSP) from Dekina, Olamaboro and Ofu local government areas where the project operates in Kogi state.
According to him , the organization has come up with the best management practices that will educate oil palm smallholder farmers on how to apply fertilizer and the use of improved planting materials.
“We are advising palm oil farmers to make a replacement of the any cut palm oil trees or go to vast land where there are shrubs to plant oil palm that will help to reclaim the environment.
“We are also warning oil palm farmers against improper application of fertilizer which has been a major problem as it becomes injurious to the ecosystem . Farmers should know the rate of fertilizer to apply and at the appropriate time so that it will not be inimical to the environment. BluePrintNG
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Pakistan-Edible oil production to be raised to 4.8m tons in 10 years: Iqbal
ISLAMABAD: In an effort to take the country towards self reliance in food commodities, especially in edible oil, the government has planned increasing the annual domestic edible oil production up to 4.793 million tons in 10 years.
Currently, the country produces 0.745 million tons of edible oil annually, which is only 8% of the total domestic demand for the commodity of over 5 million tons.
In a meeting held here, presided over by Minister for Planning and Development Ahsan Iqbal, it was informed that in order to meet the demand, Pakistan imports 4.5 million tons of edible oil annually.
The move would help minimizing the huge import bill of the food group that was recorded at US$7.575 billion during first 11 months (Jul-May) of the year 2021-22.
The import of palm oil was recorded at $3,058 billion while that soyabean oil stood at $217.7 million during the period under review.
The meeting that was held to review the plans with respect to achieving self dependency in the edible oil here today. Pakistan Today
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Palm oil climbs as Indonesia considers raising biodiesel mandate
SINGAPORE (June 30): Palm oil resumed an advance as top producer Indonesia considers a plan to increase its biodiesel mandate, a move aimed at slashing its fuel import costs and soaking up bulging edible oil stockpiles.
Futures for September delivery climbed as much as 1.5% to RM4,975 (US$1,129) a ton, reversing an earlier drop of 1.9%, before closing slightly higher. Indonesia may raise the required palm content in biodiesel to 35% from the current 30%, a ministry official said. This could tighten palm oil supplies.
If the plan materializes, it will likely absorb an additional 1.5 million tons of crude palm oil on top of the 9.7 million to 10 million tons used for the current B30 mix, said Sathia Varqa, owner of Palm Oil Analytics in Singapore. The Edge Markets
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Malaysia-A Case Study For The EU: The Double Bind Of Biodiesel Expansion And Food Security Crisis
Q1 2022 Export Performance of Malaysian Palm Oil
Malaysia recorded a promising export performance for Q1 of 2022. The export volume of Malaysian palm oil products reached 3.5 million MT, with an export value of RM19.74 billion. As for the total export of Malaysian palm oil as well as its derivatives, the export volume for Q1 2022 reached 5.6 million MT, with an export value of RM30.3 billion. The export of Malaysian palm oil and its derivatives increased 13.9 % Y-O-Y. Its export value increased 65.7% Y-O-Y with an increase of RM12 billion[1].
This stellar export performance is driven by a multitude of factors. Shortage of sunflower oil due to a barrage of geopolitical conflicts between Russia and Ukraine contributes to the principal demand driver. The Black Sea region accounts for 60% of world sunflower oil output and 77% of exports[2]. With its production halted, the shortage of sunflower oil has sent the edible oils market into turmoil, particularly in the European market that is predominantly sunflower oil users. Following this, the shipments of goods via the Black Sea have also been halted due to its extremely high risk. MPOC
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Malaysia-MPOB introduces new technologies for commercialisation
MALAYSIAN Palm Oil Board (MPOB) continues to develop new technologies for commercialisation which provide opportunities for local industry players including small and medium entrepreneurs as well as micro enterprises.
As such, our technologies, covering the whole spectrum of the industry, ranging from upstream to downstream, including formulation for food and non-food products contribute to the development of the country's palm oil industry.
At our 28th Transfer of Technology (TOT) 2022 held at MPOB head office last Tuesday, we introduced another two technologies and innovations for commercialisation.
The timely launch of our new technology for feed pellet formulation for beef cattle, which uses oil palm products offers an alternative to raw materials and can reduce the high production cost of animal feed. Most importantly, this formulation, after its R&D and commercial trials does not compromise the nutritional value of the feed pellet. New Straits Times
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India issues quota for duty-free edible oil purchase to ease domestic prices
India's government has issued quota for duty-free soybean oil and sunflower oil for importers with a ceiling of maximum 0.2 million mt for each buyer in a bid to check high domestic prices, according to a document viewed by S&P Global Commodity Insights.
The quota issued by the government is valid till for a period of one year or June 30, 2023, whichever is earlier. While crude soybean oil import quota has been issued to 99 applicants, the crude sunflower derivative purchase quota has been allocated to 85 importing firms.
Directorate General of Foreign Trade, India's trade watchdog, awarded the import quota to the applicant firms after assessing their certified refined oil processing capacity.
However, as per market sources, the tax-free edible oil import will only make its way to India only by August, thereby ushering a domestic price relief. SP GLobal
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India-Most edible oil mills shut, stocks of oilseeds almost exhausted
Gujarat based edible oil mills are passing through lean period as out of almost 400 mills across the state, hardly around 55 are operational and rest are waiting for the kharif oilseeds crop to hit the market.
“It is difficult to run an edible oilseed crushing unit as prices of imported oils are much lower than locally produced oils including groundnut, cottonseed oil, mustard oil etc. Moreover, stocks of oilseeds have almost exhausted. Most of the mills are likely to remain shut till the arrival of kharif oilseeds crop,” says Kishor Viradiya, president of Saurashtra Oil Mills Association (SOMA), an apex body of oil millers in Gujarat. Financial Express
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India-Gujarat edible oil manufacturers seek duty on oil import
RAJKOT: The edible oil manufacturers of Gujarat have urged the union government to impose a duty on the import of the commodity to save the local industry.
In a letter to Union commerce minister Piyush Goyal, the Gujarat State Edible Oils and Oil Seeds Association has contended that edible oil prices in the international market had dropped and government should not lose out on revenue from import duty.
The central government had reduced the duty on the import of various edible oils in phases in the last years in order to arrest food inflation.
India imports 65% of the edible oil it requires with the major portion being palm oil. In October last year, import duty on crude palm oil was slashed from 10% to 2.5%, while duty on crude sunflower and soya oil was also reduced to 2.5% from 7.5%. Times of India
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Ghana-IMF will not help Ghana, gov’t should invest in palm oil sector — Paul Amaning
President of the Artisanal Palm Oil Millers and Outgrowers Association of Ghana, Mr. Paul Kwabena Amaning, has opined that going to the International Monetary Fund (IMF) has never solved Ghana's economic challenges hence government should take advantage of the palm oil industry to invest in palm oil production for manufacturing and export to generate foreign exchange to save the economy.
He stressed that Ghana has 360,000 hectares of land which can be used to cultivate palm oil in large quantities to create over 1.4million jobs.
Mr Amaning noted that government can get 108 million tons of crude through palm oil which can generate over 1 billion dollars a year to revive Ghana’s economy.
But Mr.Paul-Kwabena-Amaning believes going to the IMF had not helped Ghana.
“Ghana has 360000 hectares of land which can be used to cultivate palm oil in large quantities which can provide over 1.4m jobs and generate over 1 billion dollars a year to revive Ghana’s economy. International Monetary Fund (IMF) is never a good alternative, the IMF policy was the reason why all the plantation farms which were initiated by Ignatius Kutu Acheampong in the past have all been sold to the whites because of the IMF policy,” Mr.Paul-Kwabena-Amaning told Accra-based Kingdom FM 107.7. Modern Ghana
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Sri Lanka-Together with Mee: POIA Commits to Planting 100,000 Trees, Marking World Environment Day
The Palm Oil Industry Association (POIA), the apex body representing the industry across the island, recently launched its National Environmental Sustainability Programme. Under this programme, POIA will conduct the “Together with Mee” initiative, which will see the planting of 100,000 local trees including Mee trees on palm oil estates across the island, to mark World Environment Day 2022. This initiative will cover oil palm fields in the Galle, Kalutara, Rathnapura, and Kegalle districts. To mark the inauguration of “Together with Mee”, nearly 5,000 Mee saplings were planted across POIA member estates, in collaboration with estate workers and villagers. POIA intends to complete the planting of its target of 100,000 local trees including Mee trees before World Environment Day 2023, and has received the support and commitment of all its members in this regard.
The inauguration of the “Together with Mee” initiative coincided with World Environment Day, which fell on the 5th of June 2022. In addition to the tree-planting event, the inauguration also witnessed the participation of religious leaders, schoolchildren, government agencies, and local communities, in several workshops on environmental protection, biodiversity, endemic animal identification, and environmental conservation. The event also featured art competitions and general knowledge quizzes, along with a session on garbage recycling, and an innovation-centric design competition for schoolchildren, for which prizes to support winners’ education were distributed at the end of the competition. Adaderana
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SINGAPORE (June 30): Palm oil resumed an advance as top producer Indonesia considers a plan to increase its biodiesel mandate, a move aimed at slashing its fuel import costs and soaking up bulging edible oil stockpiles.
Futures for September delivery climbed as much as 1.5% to RM4,975 (US$1,129) a ton, reversing an earlier drop of 1.9%, before closing slightly higher. Indonesia may raise the required palm content in biodiesel to 35% from the current 30%, a ministry official said. This could tighten palm oil supplies.
If the plan materializes, it will likely absorb an additional 1.5 million tons of crude palm oil on top of the 9.7 million to 10 million tons used for the current B30 mix, said Sathia Varqa, owner of Palm Oil Analytics in Singapore. The Edge Markets
--------
Malaysia-A Case Study For The EU: The Double Bind Of Biodiesel Expansion And Food Security Crisis
Q1 2022 Export Performance of Malaysian Palm Oil
Malaysia recorded a promising export performance for Q1 of 2022. The export volume of Malaysian palm oil products reached 3.5 million MT, with an export value of RM19.74 billion. As for the total export of Malaysian palm oil as well as its derivatives, the export volume for Q1 2022 reached 5.6 million MT, with an export value of RM30.3 billion. The export of Malaysian palm oil and its derivatives increased 13.9 % Y-O-Y. Its export value increased 65.7% Y-O-Y with an increase of RM12 billion[1].
This stellar export performance is driven by a multitude of factors. Shortage of sunflower oil due to a barrage of geopolitical conflicts between Russia and Ukraine contributes to the principal demand driver. The Black Sea region accounts for 60% of world sunflower oil output and 77% of exports[2]. With its production halted, the shortage of sunflower oil has sent the edible oils market into turmoil, particularly in the European market that is predominantly sunflower oil users. Following this, the shipments of goods via the Black Sea have also been halted due to its extremely high risk. MPOC
--------
Malaysia-MPOB introduces new technologies for commercialisation
MALAYSIAN Palm Oil Board (MPOB) continues to develop new technologies for commercialisation which provide opportunities for local industry players including small and medium entrepreneurs as well as micro enterprises.
As such, our technologies, covering the whole spectrum of the industry, ranging from upstream to downstream, including formulation for food and non-food products contribute to the development of the country's palm oil industry.
At our 28th Transfer of Technology (TOT) 2022 held at MPOB head office last Tuesday, we introduced another two technologies and innovations for commercialisation.
The timely launch of our new technology for feed pellet formulation for beef cattle, which uses oil palm products offers an alternative to raw materials and can reduce the high production cost of animal feed. Most importantly, this formulation, after its R&D and commercial trials does not compromise the nutritional value of the feed pellet. New Straits Times
--------
India issues quota for duty-free edible oil purchase to ease domestic prices
India's government has issued quota for duty-free soybean oil and sunflower oil for importers with a ceiling of maximum 0.2 million mt for each buyer in a bid to check high domestic prices, according to a document viewed by S&P Global Commodity Insights.
The quota issued by the government is valid till for a period of one year or June 30, 2023, whichever is earlier. While crude soybean oil import quota has been issued to 99 applicants, the crude sunflower derivative purchase quota has been allocated to 85 importing firms.
Directorate General of Foreign Trade, India's trade watchdog, awarded the import quota to the applicant firms after assessing their certified refined oil processing capacity.
However, as per market sources, the tax-free edible oil import will only make its way to India only by August, thereby ushering a domestic price relief. SP GLobal
--------
India-Most edible oil mills shut, stocks of oilseeds almost exhausted
Gujarat based edible oil mills are passing through lean period as out of almost 400 mills across the state, hardly around 55 are operational and rest are waiting for the kharif oilseeds crop to hit the market.
“It is difficult to run an edible oilseed crushing unit as prices of imported oils are much lower than locally produced oils including groundnut, cottonseed oil, mustard oil etc. Moreover, stocks of oilseeds have almost exhausted. Most of the mills are likely to remain shut till the arrival of kharif oilseeds crop,” says Kishor Viradiya, president of Saurashtra Oil Mills Association (SOMA), an apex body of oil millers in Gujarat. Financial Express
--------
India-Gujarat edible oil manufacturers seek duty on oil import
RAJKOT: The edible oil manufacturers of Gujarat have urged the union government to impose a duty on the import of the commodity to save the local industry.
In a letter to Union commerce minister Piyush Goyal, the Gujarat State Edible Oils and Oil Seeds Association has contended that edible oil prices in the international market had dropped and government should not lose out on revenue from import duty.
The central government had reduced the duty on the import of various edible oils in phases in the last years in order to arrest food inflation.
India imports 65% of the edible oil it requires with the major portion being palm oil. In October last year, import duty on crude palm oil was slashed from 10% to 2.5%, while duty on crude sunflower and soya oil was also reduced to 2.5% from 7.5%. Times of India
--------
Ghana-IMF will not help Ghana, gov’t should invest in palm oil sector — Paul Amaning
President of the Artisanal Palm Oil Millers and Outgrowers Association of Ghana, Mr. Paul Kwabena Amaning, has opined that going to the International Monetary Fund (IMF) has never solved Ghana's economic challenges hence government should take advantage of the palm oil industry to invest in palm oil production for manufacturing and export to generate foreign exchange to save the economy.
He stressed that Ghana has 360,000 hectares of land which can be used to cultivate palm oil in large quantities to create over 1.4million jobs.
Mr Amaning noted that government can get 108 million tons of crude through palm oil which can generate over 1 billion dollars a year to revive Ghana’s economy.
But Mr.Paul-Kwabena-Amaning believes going to the IMF had not helped Ghana.
“Ghana has 360000 hectares of land which can be used to cultivate palm oil in large quantities which can provide over 1.4m jobs and generate over 1 billion dollars a year to revive Ghana’s economy. International Monetary Fund (IMF) is never a good alternative, the IMF policy was the reason why all the plantation farms which were initiated by Ignatius Kutu Acheampong in the past have all been sold to the whites because of the IMF policy,” Mr.Paul-Kwabena-Amaning told Accra-based Kingdom FM 107.7. Modern Ghana
--------
Sri Lanka-Together with Mee: POIA Commits to Planting 100,000 Trees, Marking World Environment Day
The Palm Oil Industry Association (POIA), the apex body representing the industry across the island, recently launched its National Environmental Sustainability Programme. Under this programme, POIA will conduct the “Together with Mee” initiative, which will see the planting of 100,000 local trees including Mee trees on palm oil estates across the island, to mark World Environment Day 2022. This initiative will cover oil palm fields in the Galle, Kalutara, Rathnapura, and Kegalle districts. To mark the inauguration of “Together with Mee”, nearly 5,000 Mee saplings were planted across POIA member estates, in collaboration with estate workers and villagers. POIA intends to complete the planting of its target of 100,000 local trees including Mee trees before World Environment Day 2023, and has received the support and commitment of all its members in this regard.
The inauguration of the “Together with Mee” initiative coincided with World Environment Day, which fell on the 5th of June 2022. In addition to the tree-planting event, the inauguration also witnessed the participation of religious leaders, schoolchildren, government agencies, and local communities, in several workshops on environmental protection, biodiversity, endemic animal identification, and environmental conservation. The event also featured art competitions and general knowledge quizzes, along with a session on garbage recycling, and an innovation-centric design competition for schoolchildren, for which prizes to support winners’ education were distributed at the end of the competition. Adaderana
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Palm oil. CSPO Watch. July 2022