Oils & Fats International News
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FDA proposes that soya and other plant-based ‘milks’ can keep using the name
Draft federal US rules would allow soya, oat, almond and other plant-based “milks” to keep using the name, ABC News reported.
20 March 2023 -
Cargill and Cubiq Foods collaborate on novel fat technology
Global agribusiness giant Cargill has teamed up with Spanish alternative fat company Cubiq Foods to develop novel fat technology.
20 March 2023 -
Ukraine Black Sea export corridor deal extended for at least 60 days
The Black Sea Grain Initiative (BSGI) allowing food exports from Ukraine’s deep sea ports was extended on Saturday, the day it was due to expire, the United Nations (UN) said on 18 March.
20 March 2023 -
USDA lowers global oilseed production forecast due to plunging Argentine soyabean production
The United States Department of Agriculture (USDA) has lowered its global oilseed production forecast by 7M tonnes to 630M tonnes due to reduced Argentine soyabean, sunflowerseed and Indian cottonseed crops.
20 March 2023 -
Ukrainian grain traders call for transparent cargo rules
Grain traders in Ukraine have called for transparent cargo rules, Reuters reported.
17 March 2023 -
Mixed outlook for palm oil sector forecast at POC2023
Palm oil prices are set to rise in the second half of this year but annual growth production in the sector is expected to decline, according to industry analysts at Bursa Malaysia Derivatives’ flagship Palm and Lauric Oils Conference & Exhibition (POC2023) held on 6-8 March in Kuala Lumpur, Malaysia.
17 March 2023 -
European Commission approves two GM products for food and animal feed
The European Commission (EC) has approved one genetically modified (GM) soyabean and one GM oilseed rape variety for use in food and animal feed in the EU.
16 March 2023 -
Argentina’s 2022/23 soyabean harvest could be lowest in decades as forecast cut further due to harsh dry conditions
The forecast for Argentina’s 2022/23 soyabean crop has been cut again by the country’s Rosario grains exchange, due to prolonged drought and a recent heatwave, Reuters reported.
16 March 2023 -
Russia agrees to short-term extension of Black Sea grain deal
Just days before the Black Sea Grain Initiative (BSGI) allowing food exports from Ukraine’s Black Sea ports is due to be renewed on 18 March, Russia has agreed to an extension, but only for 60 days, Politico reported on 13 March.
15 March 2023 -
China’s ability to exploit cargo shipping data to be curbed as part of new ocean shipping reforms
Proposed new shipping reforms would include a curb on China’s ability to exploit cargo shipping data, FreightWaves reported.
15 March 2023 -
Ukraine signs deal with JP Morgan Chase for advice on economy and future rebuilding efforts
The Ukraine government has signed a deal with US financial services company JP Morgan Chase for advice on the economy and future rebuilding efforts, CNBC reported.
14 March 2023 -
Indian import duty on crude sunflower oil to rise to 5.5% from 1 April
India’s import duty on crude sunflower oil will increase from zero to 5.5% from 1 April, Fastmarkets reported on 1 March.
14 March 2023 -
Golden Agri-Resources and IOI Group quit HCSA no-deforestation initiative
Two leading palm oil companies Golden Agri-Resources (GAR) and IOI Group have withdrawn from the High Carbon Stock Approach (HCSA), a voluntary framework set up to help firms meet their no-deforestation pledges, Eco Business reported.
14 March 2023
