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Latest Oils & Fats International News

BP and Bunge complete joint venture

December 18, 2019

British multinational oil and gas company BP and US agribusiness giant Bunge completed the formation of their joint venture on 2 December that combines their bioenergy and sugarcane ethanol businesses in Brazil.

French digital tax sparks US tariff threat against butter and other products

December 17, 2019

US President Donald Trump has proposed tariffs of up to US$2.4bn worth of French imports including butter, cheese and sparkling wine in retaliation for France’s tax on US tech companies including Google, Amazon and Facebook.

China and USA strike preliminary trade deal

December 16, 2019

China and the USA announced on 13 December that they had reached a preliminary trade deal including some tariff relief, increased agricultural purchases and structural change to intellectual property and technology issues.

EU to impose five-year tariffs on Indonesian biodiesel

December 16, 2019

The EU will impose five-year tariffs on Indonesian biodiesel ranging from 8-18% to counter subsidies given to producers in the country, Bloomberg reports.

COFCO to privatise China Agri-Industries

December 13, 2019

China’s largest food processor and manufacturer, COFCO, plans to privatise its agricultural subsidiary, China Agri-Industries Holdings (CAIH), in a deal worth up to US$1.2bn, Reuters reported on 28 November.

Bayer criticises Mexico over glyphosate move

December 12, 2019

Germany pharmaceutical giant Bayer has criticised Mexico for stopping imports of glyphosate – the active ingredient in its herbicide Roundup – warning that the country’s farmers will face a major disruption in fighting weeds.

European Commission announces storage aid for olive oil

December 12, 2019

The European Commission (EC) adopted private storage aid for virgin olive oils on 11 November to prop up prices hit by an oversupply of oil.

New RSPO standard for smallholders

December 11, 2019

With 40% of global palm oil produced by smallholders, the Roundtable on Sustainable Palm Oil (RSPO) has adopted a new smallholder standard to make certification more inclusive.

Coconut oil project helps certified farmers earn more

December 10, 2019

A sustainable coconut oil project involving US agribusiness giant Cargill, German chemicals firm BASF and global consumer goods corporation Procter & Gamble (P&G) has resulted in certified farmers earning 47% more in income in the Philippines and Indonesia.

Brazil to boost biodiesel blend

December 09, 2019

Brazil is set to increase biodiesel blending to 12% of diesel consumption (B12) in March 2020, its second increase in less than a year, Reuters wrote on 12 November.

Monsanto fined US$10.2M for using banned pesticide

December 06, 2019

US agribusiness giant Monsanto has been fined US$10.2M for using a banned pesticide on corn seed and research crops in Maui, Hawaii, Courthouse News wrote on 21 November.