Palm oil Current Affairs, GK & News

Asian Palm Oil Alliance (APOA)

Asian Palm Oil Alliance (APOA) was formed at the Globoil Summit organized in Agra on September 21. Key facts The APOA brings together the apex edible oil industry associations from India, Pakistan, Sri Lanka, Bangladesh and Nepal, which are the major importers of palm oil. Atul Chaturvedi, Director of Adani Wilmar Ltd and President of ..

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Palm Oil Crisis in Indonesia

Indonesia, the largest producer, and exporter of palm oil is experiencing domestic shortages so much that the government has been forced to put curbs on shipments and introduce price controls. Overview: For the year 2021-22 (October to September), Indonesia’s palm oil production has been predicted to be 45.5 million tonnes (mt) according to the US ..

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India’s Record Soyoil Import from the United States of America

Due to limited supply from drought-stricken South America, Indian exporters have arranged to import a record 100,000 tonnes of soyoil from the United States, at a time when palm oil prices are reaching new highs. Overview: India, the world’s largest edible oil importer, generally buys soyoil from Brazil and Argentina, but this year’s low bean ..

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Council of Palm Oil Producing Countries

The top palm oil producers for the first time are looking for opportunities to run an advocacy campaign in Europe. The largest oil producers of the world Indonesia and Malaysia have sent proposals to hire an advocacy firm to run campaign in Europe through the Council of Palm Oil Producing Countries. What is the issue? ..

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Malaysia’s 3.7 billion USD package

The Malaysian Government recently unveiled 3.7 billion USD package to help the economy recover from impacts of COVID-19. The package amounts to 1.1% of GDP of Malaysia. The package was announced as the country struggled to curb its third wave of COVID-19 infections. About the package The 3.7 billion USD package of Malaysia includes cash ..

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Union Cabinet approves MoU between India and Malaysia

On October 21, 2020, the Union Cabinet chaired by Prime Minister Narendra Modi approved the Memorandum of Understanding signed between The Institute of Chartered Accountants of India and the Malaysian Institute of certified public Accountants. The agreement enables the  qualified Chartered Accountants of the countries to join other institutes based on their qualification. Highlights Based ..

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