Singapore-listed Golden Agri-Resources (GAR) has responded to complaints made to the Roundtable on Sustainable Palm Oil (RSPO) that it paid bribes to cover up the improper use of protected forest in Indonesia, as first reported by the Wall Street Journal (WSJ).
As the global spread of COVID-19 makes it impact felt, some agricultural commodities have seen a sharp upturn in near-term demand, especially for rice and wheat-based foods, according to the International Grains Council (IGC).
Bursa Malaysia Derivatives Bhd announced on 4 May that it had cancelled the Palm and Lauric Oils Price Outlook Conference & Exhibition (POC) 2020, scheduled to take place on 22-24 June, due to uncertainties surrounding the COVID-19 pandemic.
US president Donald Trump says the country’s trade deal with China is now of secondary importance to the COVID-19 pandemic and has threatened new tariffs against Beijing in retaliation over the outbreak, Reuters reported on 30 April.
Ethanol sales in the USA could fall by more than US$10bn in 2020 and the industry’s contribution to gross domestic product (GDP) could drop by nearly one-third due to the effects of the COVID-19 pandemic, according to analysis by the Renewable Fuels Association (RFA) published on 20 April.
The palm oil sector is set to miss out on a traditional period of high demand as COVID-19 lockdowns during the Muslim holy month of Ramadan affects demand in key importing countries such as India, Pakistan and Bangladesh, Reuters reported on 21 April.