Latest Oils & Fats International News

US consumer goods company Procter & Gamble (P&G) and global agribusiness giant Cargill have teamed up on a project to convert lactic acid into bio-based acrylic acid, the companies announced on 13 May.

Global investor Blue Horizon Ventures (BHV) has joined Moira Capital Partners to help Spanish fats specialist Cubiq Foods accelerate its development of cell-based oils rich in omega 3 fatty acids, the companies announced on 15 May.

South Korean trade and logistics company Pan Ocean has bought a 36.25% stake in a US Pacific Northwest (PNW) grain export terminal, Agricensus reported local Korean media as saying on 13 May.

Leading Italian energy company Eni is planning to stop using palm oil and its derivative PFAD by 2023, World Markets reported on 15 May.

Indian buyers have resumed purchases of Malaysian palm oil after a four-month gap following a diplomatic row, trade sources told Reuters on 19 May.

The low water levels on the Paraná River which have hit soyabean exports look set to last the rest of the year, according to an expert from Argentina’s National Water Institute (INA) quoted by AgriCensus on 11 May.

The purchase by Chinese state-owned agribusiness COFCO and stockpiler Sinograin of hundreds and thousands of US soyabeans could indicate that the country’s trade deal with the USA is starting to struggle, AgriCensus reported on 12 May.

A report from the US Department of Agriculture (USDA) says oilseed production in Russia is projected to increase to 21.8M tonnes in 2019/20 - up 14% from the previous year, World Grain reported.

The European Union (EU) has released its monthly olive oil production estimates and total quantities produced to date for the current crop year, Olive Oil Times reported on 1 May.

Leading renewable diesel producer Neste has acquired BV’s Count Terminal Rotterdam from the First Dutch Group, Neste announced on 7 May.

Cooking oil sales in China look set to increase in 2020 due to more people eating at home, the Malaysian Palm Oil Council (MPOC) reported on 6 May.