Latest Oleochemical News

Canadian Drought to Raise Global Oilseed Prices

Prospects of tight rapeseed supply in Canada due to dry weather during the first half of the year, has driven up prices in the EU as well as pushed prices of palm oil and soybean oil higher globally.

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Argentina’s Senate Approves New Biofuels Law

Argentina’s Senate has approved on July 16 a biofuels draft bill advocated by lawmakers from Argentina’s ruling coalition Frente de Todos by a 43-19 vote. The new biofuels legislation stipulates lower blending requirements for biodiesel and ethanol.

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USDA Lower Soybean Export Forecast for Brazil, Argentina

USDA lowered its soybean export forecast for Argentina and Brazil for the 2020/21 marketing year by 2.65m and 3m tons, respectively, according to the July Oil Crops Outlook report published every month by the U.S. Department of Agriculture (USDA).

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USDA Sees Lower Prices for Soybeans Into the 2021/2022 Crop Year

The U.S. season-average soybean price for 2020/21 is forecast at $11.05/bushel, down $0.20 as early-season sales at lower prices continue to weigh on the season-average forecast, according to the July World Agricultural Supply and Demand Estimates (WASDE) report released by the U.S. Department of Agriculture (USDA). The soybean oil price is forecast at 57.5 cents/lb, down 1.5 cents/lb.

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Argentina’s Biofuels Draft Bill Extended to August 27

Argentina’s government has adopted a short new extension for the biodiesel law that has been in effect since 2006, according to the Official Gazette published July 13. The current regime was extended until August 27, or until a decision could be taken at the Parliament.

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Malaysia End-June Palm Oil Stocks Rose by 0.04%

Malaysia’s end-June palm oil stocks hit a seven-month high up by 0.04% from the previous month to 1.61 million tons, data from industry regulator Malaysian Palm Oil Board (MPOB) showed on Tuesday (July 13).

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Paraná River Sees Historic Low Water Levels Since 1944

The Paraná River, which runs through Argentina, Brazil and Paraguay, has hit the lowest historic water levels since 1944, according to Argentina’s National Water Institute (INA) due to scarce rainfall in the river basin, in Brazil, over the last three years.

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Argentina New Biofuels Draft Bill to be Voted on This Week

The Argentine Senate is expected to vote this week on a new biofuels draft bill advocated by lawmakers from Argentina’s ruling coalition Frente de Todos, stipulating that the biodiesel mandate will be reduced from the current 10% to 5%, although the Energy Secretariat would have the flexibility to increase the blending mandate or reduce it to as low as 3% depending on market conditions.

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India to Boost Palm Imports by Lowering Crude Palm Oil Import Tax

India, the world’s largest palm oil importer, has reduced an import duty on crude palm oil (CPO) to 10% from 15%, the Central Board of Indirect Taxes (CBIC) announced on Tuesday, as it tries to dampen near record high prices by Rs 4,657 per ton, for the last three months.

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