Italy’s anti-mafia police arrested 33 suspects and seized about US$42.8M in assets in an operation targeting the Calabrian mafia’s Piromalli clan, whose illegal activities allegedly included exporting fake extra virgin olive oil, reports Business Standard.
Brazil's state-run oil company Petrobras completed the sale of its 45.9% stake in sugar and ethanol producer Guarani to France's Tereos International for US$202.8M on 3 February as it exits the biofuels sector to reduce its debts (see Biofuel News, OFI February 2017).
Three US grain and ethanol industry groups representing have written to US president Donald Trump to urgently address China’s increased tariffs on US ethanol and its by-product – distillers’ dried grains (DDGS) (see Biofuel News, OFI February 2017).
US chemical giants DuPont and Dow Chemical said on 7 February that they are willing to sell assets to address EU competition concerns about their planned US$130bn merger, which would create the world’s largest crop protection and seed company, reports Reuters.
A joint project between the RSPO (which provided funding) and Solidaridad West Africa-Côte d’Ivoire, will be implemented in the next three years to target 5,000 Ivorian smallholders to help sustainable palm oil production become the norm, the RSPO announced on 3 February.
Prices for vegetable oils have fallen from their high levels with ample supply, decreasing demand and the firm euro rate sending asking prices on a slide, Germany’s Union for the Promotion of Oil and Protein Plants (UFOP) said on 8 February.