Oils & Fats International News
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Evonik to increase biodiesel catalyst capacity in Argentina
German chemical company Evonik will increase its production capacity for the biodiesel catalyst, sodium methylate, at its Rosario, Santa Fe facility in Argentina from 60,000 to 90,000 tonnes.
24 December 2019 -
BASF launches omega-3 product for non-alcoholic fatty liver disease
BASF Nutrition & Health is launching an omega-3 fatty acid product in Switzerland to help patients manage Non-Alcoholic Fatty Liver Disease (NAFLD), its first market in continental Europe for the product.
23 December 2019 -
Argentina’s new government hikes grain and oilseed export taxes
Argentina has ramped up export taxes on soyabeans, grains and their derivatives on 14 December to raise revenue needed to tackle a mountain of looming sovereign debt, Reuters reports.
20 December 2019 -
Neste to turn Christmas ham fat waste into renewable diesel
Finnish renewable fuel and chemicals firm Neste will be collecting Christmas ham fat waste to produce its renewable diesel for the fourth year in a row as part of its annual Kinkkutemppu (Ham Trick) campaign.
19 December 2019 -
BP and Bunge complete joint venture
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.
18 December 2019 -
French digital tax sparks US tariff threat against butter and other products
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.
17 December 2019 -
China and USA strike preliminary trade deal
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.
16 December 2019 -
EU to impose five-year tariffs on Indonesian biodiesel
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.
16 December 2019 -
COFCO to privatise China Agri-Industries
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.
13 December 2019 -
Bayer criticises Mexico over glyphosate move
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.
12 December 2019 -
European Commission announces storage aid for olive oil
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.
12 December 2019 -
USA protests against Thailand’s crop chemicals ban
The USA has asked Thailand to postpone its forthcoming ban on the weedkiller, glyphosate, saying it could impact its exports of soyabeans and other crops to the country.
11 December 2019 -
Sime Darby Plantation reports net earnings of US$24M
Weak crude palm oil (CPO) and palm kernel prices led to a 64% fall in net earnings for Malaysia’s Sime Darby Plantation group for the six months ending 30 June.
09 December 2019