Market Highlights

Market Highlights

Impact of Covid-19 Restrictions on South American Soymeal Prices

Oil World, 27 March 2020 reported that prices of soymeal from Argentina and Brazil have jumped up and now becoming the price leader. The strength in soymeal prices are caused by the following reasons:- Restricted Movement: Soybeans transportation to domestic processors is now impeded by movement res...

Palm Oil Demand Stable in South Africa Amidst COVID 19

COVID 19 is currently developing in Africa with many countries affected in the region. With the spread of the pandemic, many governments in the region have announced lockdowns in the effort to curb the spread of COVID 19. Economic repercussions and uncertainty were felt across the continent as the d...

Covid-19 restrictions affecting the soybean crushing industry in Argentina

Argentina ranks as the world’s top supplier of soymeal and third largest exporter of soybeans. The largest soy crushing plant is located in Rosario, Argentina which handles most of the country’s soymeal production and export.  Soybean and corn industries are two of Argentina’s main sources of e...

India Changes Conditions on Import of Refined Palm Oil

Through a notification issued on 13 April 2020 via Trade Notice No. 2/2020-21, the Government of India (GOI) has updated the conditions for palm oil imports, reducing the validity of import licences and demanding a pre-purchase agreement for the shipments. The Ministry of Commerce and Industry of In...

Pakistan Removes 2% Additional Import Duty on Edible Oil

Government of Pakistan has announced a multibillion-dollar economic package to support low income citizens and business sectors which are badly affected by the coronavirus related lockdown in the country. The government reduced import duties of numerous goods, especially food items, to reduce the fi...

Fear of a Downfall in Sub-Saharan Africa’s Demand for Palm Oil Amid COVID-19

COVID-19 Situation Covid-19 pandemic is rapidly developing in Africa with number of countries, number of cases, and number of deaths all on the increase. Though the number of cases hasn’t reached the levels like in other countries such as China, Italy and the USA, studies show that devastating effec...

COVID-19 Virus Impacting Indian Agriculture

The COVID-19 virus is fast spreading its tentacles in India. The country is in a lockdown mode with strong possibility that the lockdown maybe extended. Agricultural products are part of the essential commodities basket; hence, exempted from lockdown restrictions. But due to the chain-reaction of th...

Bangladesh’s Unutilized Refining Capacity Amid Slow Down in Imports

Bangladesh has an installed refining capacity of approximately 3.8 million MT which is dominated by 8 business houses. These 8 groups have multiple refineries in various parts of the country and control nearly 95% of the total installed capacity. Since palm oil is the leading edible oil imported and...

China’s oleochemical market brace for higher demand amid disruption in supply chain and COVID-19

COVID-19 containment in China resulted in panic buying among Chinese especially for personal care, detergent and sanitation products. Amidst a full lockdown or partial lockdown of oleochemical producing companies, the COVID-19 panic buying scenario created a strong demand for oleochemical manufactur...

Recovery in China’s Soybean Crushing Activities Poses Threat to Malaysian Palm Oil Imports in China

The weekly crushing volume of soybeans in China had surged in mid-February after a sharp fall in the early part of the month. Soymeal price rose from RMB2,896/MT on 31 December 2019 to RMB3,253/MT on 31st March 2020 (April 1, 2020, Sunsirs Commodity Data Group). JC Intelligence Shanghai estimated th...

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