Latest Oils & Fats International News

BASF will increase its R&D budget and launch 30 new products, including eight active ingredients, as well as seeds in hybrid wheat, soyabean, canola, cotton and vegetables.

Cargill has reduced the amount of plastic it uses for its vegetable oil bottles and containers by nearly 1,200 tonnes globally, the global agribusiness company announced on 2 October.

US President Donald Trump announced a “very substantial phase one deal” on 11 October to solve the country’s long-running trade dispute with China.

Thailand is planning to introduce measures to shore up its domestic palm oil prices in addition to a recent price guarantee scheme on the edible oil.

The US Environmental Protection Agency (EPA) announced a biofuel relief package on 4 October which it said would “ensure that more than 15bn gallons of conventional ethanol are blended into the nation’s fuel supply beginning in 2020”.

Dry bulk and tanker shipping firm DryShips Inc – which recently acquired global tanker pool operator Heidmar Inc – has reported a net loss of US$12.7M for its second quarter 2019 as it works to upgrade its fleet.

Deforestation from oil palm plantations on the island of Borneo has steadily declined since peaking in 2012, according to the digital tool Borneo Atlas.

Swiss commodity trading firm Glencore Agriculture has joined the world’s leading agribusinesses in an initiative to modernise global agricultural commodity trading.

Malaysia is on track to export its Sustainable Palm Oil (MSPO) to Europe by 2020, allowing the country’s commodity to enter the European market.

The USA has won approval from the World Trade Organization (WTO) to impose tariffs on US$7.5bn worth of EU goods, including some Spanish olive oils.

Italian oil and gas multinational Eni Spa has launched its 750,000 tonnes Gela biorefinery, which will be able to utilise increasing quantities of used vegetable oil, animal fat, algae and by-products to produce renewable diesel or hydrotreated vegetable oil (HVO).