Latest Oils & Fats International News

Paraguay President Mario Abdo Benítez has signed an agreement for the construction of a renewable diesel plant that will be producing fuel from soyabean oil extracted with renewable hexane, animal fats and used cooking oil.

On 13 March, the European Commission (EC) adopted a draft delegated act specifying the sustainability criteria for biofuels and classifying palm oil as unsustainable.
 

A US jury has found that Bayer’s widely-used glyphosate weedkiller was a “substantial factor” in causing a man’s cancer, BBC News reported today.

The US Environment Protection Agency (EPA) released its proposed rule to allow the year-round sale of E15 blended ethanol on 12 March.

Italy has experienced a 57% plunge in its olive harvest – the worst in 25 years – as a result of extreme weather events, reports The Guardian newspaper.

Singapore-based palm oil giant Wilmar International will become the sole owner of Australasia food manufacturer Goodman Fielder in a deal announced on 11 March.

Three Chinese firms signed deals with four Malaysian companies to import 1.62M tonnes of palm oil products worth US$891M following the Malaysia-China Palm Oil Business Forum at the start of March, the Ministry of Primary Industries reported on 4 March.

Leading Asian agribusiness giant Wilmar International has reported a 5.7% fall in net profit for the 2018 fiscal year, ending 31 December 2018, to US$1.128bn 2018, impacted by a tough operating environment.

Australia’s largest edible oil business, GrainCorp, Ltd has agreed to sell its bulk liquid terminals business to ANZ Terminals Pty Ltd for approximately A$350M (US$246M).

China has committed to buying 10M tonnes of US soyabeans, according to a 22 February tweet by US Secretary of Agriculture Sonny Perdue.

Canadian cannabis company Tilray Inc completed its US$318M acquisition of Manitoba Harvest, the world’s largest provider of hemp-based foods, on 28 February.