Oils & Fats International News
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Romanian port exports record grain volumes
The Port of Constanta in Romania reported a 50% year-on-year increase in grain exports last year due to a surge in shipments from Ukraine and ongoing European Union (EU)-funded infrastructure projects, Reuters reported the port authority as saying.
24 January 2024 -
Upfield launches plastic-free recyclable tub for its plant butters and spreads
Leading plant-based food company Upfield has launched a plastic-free, recyclable tub for its plant butters and spreads as part of the company’s aim to reduce plastic content across its portfolio by 80% by 2030.
23 January 2024 -
Herbicide-resistant weeds spread across USA due to reduced effectiveness of chemicals
There has been an increase in herbicide-resistant weeds across US farmland as they develop faster than new weedkillers can be developed, Reuters reported.
23 January 2024 -
Rotterdam marine biofuel prices surge as Dutch government halves rebate multiplier
Rotterdam’s B20-VLSFO and B30-VLSFO bunker prices increased significantly at the start of January following the Dutch government’s halving of the rebate multiplier for marine biofuel sales from 0.80 to 0.40, Bunkerspot reported from data by marine fuel intelligence platform ENGINE.
22 January 2024 -
Brazil February soyabean export prices drop due to weak demand from China and other factors
Brazilian soyabean export prices dropped in mid-January due to weak Chinese demand, the start of the harvest season and other local factors, market sources told AgriCensus.
22 January 2024 -
Indonesia’s PalmCo delays IPO and plans biodiesel plant investment
The Indonesian government has delayed plans for an initial public offering (IPO) of palm oil producer PalmCo, Reuters quoted an official from the firm’s parent company, state agricultural group Perkebunan Nusantara (PTPN or Persero), as saying.
19 January 2024 -
Bumper soyabean crop forecast in Argentina
Soyabean production in Argentina is forecast to surge by almost 150% in the 2023/24 marketing year due to optimum rainfall during the planting season, according to United States Department of Agriculture (USDA) data reported by World Grain.
19 January 2024 -
ADM’s Canadian terminal expansion receives funding
Global agribusiness giant ADM has received funding of US$26.3M under Canada’s National Trade Corridors Fund for the expansion of its grain terminal at Port Windsor, World Grain wrote.
18 January 2024 -
Work to resolve chronic water shortages on Panama Canal could cost billions of dollars
Long term solutions to resolve chronic water shortages on the Panama Canal could cost around US$2bn, Bloomberg quoted the Panama Canal Authority (ACP)’s water division manager as saying.
18 January 2024 -
India extends lower duty on edible oil imports until March 2025
The Indian government has extended the lower duty on edible oil imports by another year until March 2025 in a bid to control food inflation, Reuters reported on 16 January.
17 January 2024 -
US Gulf shipping costs rise for corn and soyabeans
Total transportation costs for corn and soyabeans shipped through the US Gulf route increased in the third quarter of last year compared to the previous quarter, while Pacific Northwest (PNW) costs for both commodities dropped slightly, according to a United States Department of Agriculture (USDA) report.
17 January 2024 -
Cargill study shows a third of shoppers check oil labels for sustainability claims
A third of consumers check oil labels for sustainability claims, according to the results of a 2023 study by global agribusiness giant Cargill, reported by Food Business News.
16 January 2024 -
China reports progress on policy to increase soyabean self-sufficiency
China has made progress in increasing its soyabean self-sufficiency following the launch of a national policy to reduce the country’s use of soyabean meal in livestock and poultry feeds, according to sources quoted in a Feed&Grain report.
16 January 2024