Market Highlights
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...
India’s Import of Edible Oil Decline 32% in March 2020
The latest data by The Solvent Extractors’ Association of India (SEA) has indicated that India’s edible oil imports for March 2020 recorded a decrease of 32.44% from a year before. Imports for March 2020 were registered at 941,219 tonnes, a stark comparison to 1,393,255 tonnes registered in Mar...
Mexico braces for the surge in COVID-19 cases and the collapse of oil prices
COVID-19 is spreading very quickly in Latin America. The situation in Mexico is no exception. The country declared a health emergency on Monday, March 30 and issued stricter rules aimed at containing the fast-spreading coronavirus after its number of cases surged past 1,000 and the death toll rose s...
