Vegoils
Market News
The US Department of Agriculture's attaché in Argentina kept its 2023/24 soybean output estimate unchanged at 49.5 million tonnes while projecting a 51 million tonnes production in 2024/25.
Freight rates for vessels carrying palm oil from Southeast Asia to key destinations in the region were steady from the previous week, supported by a healthy volume of inquiries.
US net soyoil sales dropped by 56% in the week to April 25 after the previous week’s significant increase, while soybean cake and meal sales fell by 57% week on week, according to data from the US Department of Agriculture released on Thursday May 2.
Weekly exports of sunflower meal and sunflower oil jumped in the week to Thursday May 2, while soybean exports fell to their lowest levels since the start of the 2023/24 season, official data shows.
China’s soybean crush volume in the week ending Friday April 26 ended its upward trend and edged down by 30,000 tonnes, or 1.54%, to 1.92 million tonnes compared with the week to April 19, according to data from the China National Grain and Oil Information Centre (CNGOIC).
The Argentine Oilseed Crushers Union (SOEA) announced on Tuesday April 30 the end of the strike that had started on Monday, according to a union note.
Indonesia’s palm oil inventories totaled 3.26 million tonnes at the end of February, up by 7.49% from January, following a decrease in exports and domestic consumption, according to data from the Indonesian Palm Oil Association (Gapki) released on Tuesday April 30.
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Vegoils
Corporate News
Singapore-based Wilmar International posted its financial results for the first quarter on Monday April 29, with net profit at $302.9 million...
Wilmar International has confirmed one of its terminals was damaged in an "incident" and estimated that it will take up to six months to repair the facilities destroyed after a missile attack on the Ukrainian port of Pivdenny...
Palm oil major Sime Darby Plantation Berhad (SDP) reported a 6% annual increase in its palm fresh fruit bunch (FFB) output for its financial year ending December 31 2023...
Singapore-based Asian agribusiness giant Wilmar International (Wilmar) saw an increase in its palm fresh fruit bunch (FFB) production in the second half of its 2023 financial year...
Palm oil major Sime Darby Plantation Berhad (SDP) recorded a 205.8% year-on-year jump in its net profits for the third quarter...
China’s weekly soybean crush level dropped by almost 4% from the previous week to 1.7 million mt last week as many crushers continued to suspend operations due to a lack of soybeans...
Intensifying competition among Chinese crushers is slashing profitability in the sector and leaving half of the potential...
Malaysia’s Bursa Malaysia Derivatives Exchange (BMD) and China’s Dalian Commodity Exchange signed an agreement...
Vegoils
Policy News
Malaysia has raised its crude palm oil (CPO) reference price for May to 4,273.93 ringgit ($893) per tonne from the previous...
Indonesia has raised its crude palm oil (CPO) reference price to $857.62 per tonne for the month of April...
Russia’s Ministry of Agriculture cut its sunflower meal export duty again and kept its tariff for sunflower oil at zero for the month...
Malaysia has raised its crude palm oil (CPO) reference price for April to 3,958.58 ringgit per tonne ($844.07) from 3,793.94...
The Russian Ministry of Agriculture has reduced the export duty on sunflower meal, while leaving the export duty on sunflower oil at...
Malaysia has raised its crude palm oil (CPO) reference price for March to MYR3,793.94/mt ($793.63) from MYR3571.39/mt in February...
The Polish government has expressed its intention to apply for payment of at least 8% VAT on sunflower oil that may come from
The European Commission has proposed to extend the duty and quota-free import of agricultural products from Ukraine and Moldova for another year...