Latest Oleochemical News
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.
Calgary-based Tidewater Midstream is looking to develop a plant on its Prince George Refinery, in British Columbia, to convert vegetable oils, used cooking oil (UCO) and animal fats into renewable diesel.
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.
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).
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.
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.
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.
Delta Biofuel is evaluating Iberia Parish, Louisiana, for a planned $70m renewable fuel plant, company CEO Philip Keating said on Monday. Groundwork for the new facility would begin September 2021, with completion expected in September 2022.
Indonesia, the world’s largest palm oil exporter, adjusted its export levy scheme for crude palm oil (CPO) to reduce the highest rate to $175/ton, Finance Minister Sri Mulyani Indrawati said last Friday.
Malaysia extended its national lockdown indefinitely as a counter measures against the spread of COVID-19, Prime Minister Muhyiddin Yassin announced on Sunday.
Malaysia has kept its July export duty for crude palm oil at 8%, although it raised the reference price, a circular on the Malaysian Palm Oil Board website showed last week.
Fintoil, a Finnish biorefiner, completed the issuance of €70m Senior Secured Green Bond, rated Medium Green by Cicero, combined with a committed €10m Super Senior Revolving Credit Facility.
Indonesia, the world´s largest palm oil exporter, will change its export levy scheme for crude palm oil (CPO) to reduce the highest rate to $175/ton soon, Finance Minister Sri Mulyani Indrawati said on Monday.
Malaysia announced an extension to the first-phase of its national lockdown until June 28, keeping workforce capacity in enclosed spaces like palm oil and biodiesel processing plants limited to 60%, while plantation and nursery workforce capacity still being able to operate as normal at 100%, according to the Malaysian Palm Oil Board (MPOB).
Calumet Specialty Products Partners, an independent producer of hydrocarbon products headquartered in Indiana, announced June 9 that it will add a pretreatment plant to its renewable diesel project at its Great Falls, Montana, as it continues to evaluate feedstock supply partners.
Malaysia’s end-May palm oil stocks hit a six-month high up by 1.49% from the previous month to 1.57 million tons, data from industry regulator Malaysian Palm Oil Board (MPOB) showed on Thursday.
UrbanX Renewables Group of Long Beach, based in California, announced June 2 that it has executed its front-end engineering design (FEED) contract with Hyundai Engineering for a renewable diesel and sustainable aviation fuel (SAF) biorefinery in California.
Global food and biofuels corporation Cargill, based in Minnesota, is building a sustainable palm oil refinery in Lampung, Indonesia, which is expected to be completed in late 2022.