Maize arrivals dry up in Nizamabad wholesale market.
E.U. looks to remove palm oil from biofuels.
E.U. biofuels groups praised a vote by the European Parliament on Jan. 17 to phase out the use of palm oil in biofuels and allow some crop-based fuels. Still, more needs to be done, said ePURE leaders, the European renewable ethanol association. Europeans deserve a climate policy that lives up to the promises made by politicians. The Parliament has sent a message that not all biofuels are created equal by focusing on getting rid of those that drive deforestation like palm oil. But its amendments still risk making it harder for E.U. member states to realistically boost renewables in transport.
MCX CPO near 1-month low on cues from Malaysian bourse.
The February contract of crude palm oil on MCX hit a near one-month low tracking benchmark contracts on the Bursa Malaysia Derivatives. Prices of crude palm oil fell on the Malaysian bourse due to a strong ringgit against the dollar and on concerns over a likely fall in demand from the European Union.
Indian government may raise vegoil import duty third time since Aug 2017.
Indian government may raise the import duty on vegetable oils such as refined palm oil and palm olein, sunflower oil and cottonseed oil for the third time since August 2017, amid lobbying by the country’s refiners and to protect local farmers. This move could come ahead of key state and general elections due to be held in 2018 and 2019, to attract farmerr. The government had raised import duties in August 2017 and again in November in the wake of intense lobbying by the Indian refiners, and in order to cater to farmers requests ahead of a key state election in Gujarat.