Palm oil

Global Palm Oil Market Set to Reach $87.40 Billion by 2028, Driven by Growing Demand and Versatile Applications - ResearchAndMarkets.com

Retrieved on: 
Friday, August 11, 2023

Additionally, oil palm farms are becoming more and more important on a worldwide scale because of their productivity and affordability.

Key Points: 
  • Additionally, oil palm farms are becoming more and more important on a worldwide scale because of their productivity and affordability.
  • Consumers worldwide are increasingly drawn to palm oil, particularly due to its elimination of GMOs, gluten, and milk from edible fats, making it a popular choice in the global market.
  • Crude Oil has dominated the global palm oil market since it has less saturated fat than the other types.
  • A sizeable portion of the global palm oil market was accounted for by the end-use segment for biofuel and energy.

Wallacea is a living laboratory of Earth's evolution – and its wildlife, forests and reefs will be devastated unless we all act

Retrieved on: 
Friday, August 11, 2023

Wallacea is a fascinating region of both land and sea.

Key Points: 
  • Wallacea is a fascinating region of both land and sea.
  • Spanning approximately 338,000 square kilometres within Indonesia, it is home to a rich diversity of animals and plants, with hybrid species from both Asia and Australia/Papua regions.
  • Take a look at incredible species such as the komodo dragon, anoa, tarsier, babirusa, and giant bees.

How the region got its name

    • Its northern boundary begins at the Talaud Islands (North Sulawesi) and reaches down to Rote Ndao Regency in the south – in East Nusa Tenggara Province, near Australia.
    • This imaginary line defining its boundaries is known as the “Wallacea line.” Alfred Russel Wallace, the British naturalist, was the first western scientist to explore the biodiversity in this region.
    • Two centuries have passed since Wallace’s work, and the Wallacea region has drastically changed from what the naturalist once observed.

The impact of global demand for palm oil and batteries

    • It occurred primarily due to foreign investments in Indonesia for forest logging concessions and the establishment of oil palm plantations.
    • From palm oil plantations in West Sulawesi to land clearing and development, changes driven by human activities continue to flourish in the region.
    • These companies have cleared forests and other ecosystems to make way for palm oil, cocoa and chocolate plantations.
    • Nickel mining also became a prevalent industrial activity in these areas, due to growing demand for nickels as a raw material for electric vehicle batteries.

Tarsiers, birds and reefs are all at risk

    • There are more than 40 infrastructure projects underway, including dams, roads, railway systems, oil and gas initiatives, and many others.
    • In the ocean, valuable ecosystems like coral reefs have suffered extensive damage as a result of overfishing and destructive practices.

Working together for a better future

    • The world must pay careful attention to the future of the ecosystems in Wallacea.
    • Without serious conservation efforts, millions of hectares of forests in this region could transform into desolate wastelands.
    • We’re hoping this event grabs more public interest and gets everyone working together to come up with fresh ideas for keeping it all preserved.

Jolly Pets to Launch Tuff Flyer and Debut Fill'n Treat at SuperZoo August 16-18

Retrieved on: 
Thursday, August 10, 2023

LAS VEGAS, Aug. 10, 2023 /PRNewswire/ -- Jolly Pets, a manufacturer of premier pet products made in the U.S., will launch Tuff Flyer, new flying disc gliding toy, and debut Fill'n Treat, the brand's first all-natural consumable product, at SuperZoo Booth 5257, Mandalay Bay, August 16 – 18, 2023. Louisa Casto, marketing director for Jolly Pets, a subsidiary of Tenth Avenue Holdings (TAH) LLC, made the announcement.

Key Points: 
  • Louisa Casto, marketing director for Jolly Pets, a subsidiary of Tenth Avenue Holdings (TAH) LLC , made the announcement.
  • Jolly Pets' wide range of over 25 product collections is available at JollyPets.com and will be on display at SuperZoo.
  • Jolly Pets is committed to creating durable and engaging toys that withstand rigorous, interactive play and offer endless entertainment.
  • The Jolly Tuff Flyer will be available at SuperZoo for pre-order to retailers only with a MSRP of $9.99.

Inflation is down overall, so why are my grocery bills still going up?

Retrieved on: 
Sunday, July 30, 2023

The Consumer Price Index slowed to 2.8 per cent in June compared to last year, but food prices increased by 8.3 per cent.

Key Points: 
  • The Consumer Price Index slowed to 2.8 per cent in June compared to last year, but food prices increased by 8.3 per cent.
  • The gap between general inflation and food prices is puzzling — and frustrating — for many, especially because the Bank of Canada’s interest rate hikes don’t seem to be affecting food prices at all.
  • But food prices don’t respond to interest rate policies as much as other factors do.

Competition Bureau report

    • Canada’s competition watchdog, the Competition Bureau, recently released a report that called for more competition in the Canadian food retail market.
    • The report suggested that more competition might help high food prices in Canada.
    • However, the Competition Bureau’s report ignored this, instead focusing on individual profit growth, which was similar for all three major brands.

Foreign competition

    • The Competition Bureau’s report also suggested that more foreign competition would benefit Canadian consumers, but that foreign competitors viewed the Canadian market as tough to break into.
    • A spokesperson from the Retail Council of Canada said foreign competitors didn’t feel they would be able to compete when it comes to prices.
    • Given this, it’s difficult to see how foreign competition would actually help bring prices down.

No single cause for food inflation

    • The reality is that there isn’t a single cause for food price increases in Canada; there are a combination of factors that affect different food categories.
    • Russia’s invasion of Ukraine has had a significant impact on the prices of wheat and edible oils.
    • India curtailed wheat exports, Argentina limited wheat and soybean oil and Indonesia limited palm oil exports.

A perfect storm

    • Flooding in California’s Salinas Valley caused disruptions in lettuce and tomato production, leading to higher prices for these products.
    • Europe had price increases and product shortages this winter due to bad weather conditions in northern Africa and southern Europe.
    • All these factors are happening simultaneously to create a perfect storm of food price increases.

Palm oil: The myth of corporate plantation efficiency is failing Indonesians and furthering inequality

Retrieved on: 
Thursday, July 27, 2023

Around 50 per cent of the world’s supply is grown in Indonesia, mostly on massive plantations.

Key Points: 
  • Around 50 per cent of the world’s supply is grown in Indonesia, mostly on massive plantations.
  • Indonesia’s governments have consistently supported plantation corporations at the expense of smallholder farms (defined as farms with less than 25 hectares).

Plantations out-competed

    • Globally, crops such as cacao, coffee, tea and rubber previously grown on plantations are now grown mainly by smallholders because they can produce similar yields with lower costs.
    • They note that average yields are higher on plantations than smallholdings, but averages mask significant variations.
    • Read more:
      Growing palm oil on former farmland cuts deforestation, CO₂ and biodiversity loss

      A key reason that some smallholders have low yields is their lack of access to the high quality seeds used on plantations — seeds that yield up to 66 per cent more tons of fruit.

Efficiency in land use

    • Much concession land is steep, peaty and ecologically fragile.
    • Nevertheless, managers pressed to meet corporate targets often plant palms on unsuitable land.
    • Yet they are barred from making any use of the land plantation corporations hold in their concessions, much of it unplanted, and many go hungry.

Saving on labour costs

    • The difference is that plantations also need managers, accountants, overseers and guards, incurring high costs.
    • Yet plantation labour “efficiencies” come with a price: in the plantations we studied, inconsistent labour supply led to poor maintenance and unharvested fruit.

The challenge of transportation and milling

    • Transportation and milling loom large in industry narratives about the superior efficiency of the plantation format, as palm fruit must reach the mill within 48 hours before it spoils.
    • However in Kalimantan where 86 per cent of the palms are grown on giant plantations, giant inefficient mills are the norm.

Principals and agents

    • Plantations also suffer from what economists call the “principal-agent problem”: the principals (corporations and their shareholders) must rely on agents (managers and workers) to carry out production, but their interests are often distinct.
    • Managers and workers seek to capture some of the money that circulates through and around plantations before it flows away.
    • While not perfect, moral codes supplied forms of social control that were lacking in relations between principals and agents on nearby plantations.

If Indonesia’s plantations are not efficient, why do they survive?

    • In the 1930s, the Dutch colonial government protected struggling rubber plantations by suppressing competition from smallholders.
    • Today’s oil palm smallholders are suppressed indirectly by government policies that favour corporations.
    • Making corporate plantations more efficient would not address this fundamental unfairness.

Pesticides are harming Nigeria: it’s time to update the law

Retrieved on: 
Thursday, July 27, 2023

This is because of their potential health effects or environmental contamination, or because there’s not enough data to be sure that they aren’t harmful.

Key Points: 
  • This is because of their potential health effects or environmental contamination, or because there’s not enough data to be sure that they aren’t harmful.
  • Nigeria’s use of such pesticides is the reason some markets, including the EU and the US, reject the country’s agricultural products.
  • Yet some countries with strict regulations at home still export the banned pesticides to countries like Nigeria.

Limiting factors

    • There are no provisions to hold manufacturers accountable for the negative impact of hazardous pesticides.
    • No law requires people to use personal protective equipment when applying pesticides.
    • For instance, the proposed bill to establish a pesticides council reserves two seats for an internationally affiliated association, CropLife Nigeria.
    • Instead, the council should consist of neutral and independent organisations from the scientific and academic communities.

Why effective regulation matters

    • Seventy-five percent of the women farmers in the survey reported symptoms from using pesticides.
    • Without strict regulation and enforcement, farmers might misuse or overuse pesticides in farms and storerooms.
    • Weak regulations also make Nigeria vulnerable to becoming a dumping ground for internationally banned and counterfeit pesticides.

What needs to be done

    • They have passed laws that prohibit pesticides that are banned in the countries that make or export them.
    • The legal community should engage in public interest litigation to hold manufacturing companies accountable for harm caused by pesticides.
    • Ofoegbu Donald Ikenna, senior programme manager, Sustainable Nigeria programme, Heinrich Boell Stiftung (hbs) Nigeria office, contributed to this article.

Palmitic Acid Market to Soar to USD 519 Million by 2030, Fueled by Growing Demand in Personal Care & Grease Production - ResearchAndMarkets.com

Retrieved on: 
Wednesday, July 26, 2023

The global palmitic acid market is projected to reach an impressive USD 519 million by 2030, driven by its expanding use in personal care and household products like soaps, shampoos, and laundry detergents.

Key Points: 
  • The global palmitic acid market is projected to reach an impressive USD 519 million by 2030, driven by its expanding use in personal care and household products like soaps, shampoos, and laundry detergents.
  • Additionally, its contribution to the formation of grease and lubricants used in the automotive and industrial sectors further boosts market demand.
  • The report highlights the flourishing demand for palmitic acid in the soap & detergent, personal care & cosmetics, and grease & lubricants sectors, making it an essential ingredient in numerous products.
  • As the global market for palmitic acid continues to grow, major industry players are driving innovation to meet evolving consumer needs.

Nigeria's food insecurity: declaring a state of emergency isn't a real solution - here's what is

Retrieved on: 
Monday, July 24, 2023

Data compiled by the World Economic Forum show that the average Nigerian household spends about 56% of its income on food.

Key Points: 
  • Data compiled by the World Economic Forum show that the average Nigerian household spends about 56% of its income on food.
  • Three other African countries that spend a high percentage of income on food are Kenya (46.7%), Cameroon (45.6%) and Algeria (42.5%).
  • Nigeria’s situation is so dire that President Bola Tinubu has declared a state of emergency on food insecurity.
  • My view as an economist is that fixing Nigeria’s food inflation goes beyond declaring a state of emergency.

Why emergency declaration is not enough


    Parts of Tinubu’s emergency plan have been tried in the past. For example:
    • The goal is to use them for agricultural production, housing and other socially beneficial projects.
    • But they won’t be useful to increase food production if the country’s young people aren’t interested in making a living through agriculture.

Learnings from India

    • One is India, which in the 1950s and 1960s experienced food shortages so severe that it became known as a “begging-bowl” nation.
    • By making food self-sufficiency its top economic and foreign policy priority in the 1960s, India jettisoned that image and became a major exporter of food.
    • Programmes under the Green Revolution included pro-agriculture economic policies, land reform and investment in rural infrastructure and agricultural technology.
    • Land reform: Land reform gave rural people access to agricultural land, supported by government-provided irrigation systems, rainwater catchments and extension officers.
    • Transport network: Perhaps the greatest boost to food production in India was the inexpensive and extensive transport network in the country.

No quick fixes

    • There are no quick and easy fixes for Nigeria’s food crisis.
    • It is doubtful that the mere declaration of a national emergency, with a long wish-list, will succeed in ensuring food security in Nigeria.

Thai Union Launches SeaChange® 2030, Committing THB 7.2 Billion (USD 200 Million) to Advance Sustainability Goals

Retrieved on: 
Tuesday, July 18, 2023

BANGKOK, Thailand, July 18, 2023 (GLOBE NEWSWIRE) -- World seafood leader Thai Union Group PCL announced today the launch of SeaChange ® 2030, the next stage of its sustainability strategy to help reshape the seafood industry with solutions across people and planet that better sustain a future for all.

Key Points: 
  • BANGKOK, Thailand, July 18, 2023 (GLOBE NEWSWIRE) -- World seafood leader Thai Union Group PCL announced today the launch of SeaChange ® 2030, the next stage of its sustainability strategy to help reshape the seafood industry with solutions across people and planet that better sustain a future for all.
  • The time for change is now.
  • That’s why Thai Union is committing the equivalent of its entire 2022 net profit of THB 7.2 billion (USD 200 million) to SeaChange® through 2030 and setting aggressive new goals that will impact the entire seafood value chain on a global scale.
  • Thai Union is collaborating with some of the most impactful players in global sustainability and eco-leadership to launch its next stage strategy as the seafood industry’s leading agent of change, engaging thousands of vessels and farms to meet these goals.

Indonesia is suppressing environmental research it doesn't like. That poses real risks

Retrieved on: 
Tuesday, July 11, 2023

My colleagues and I have published new research exploring the risks of this response from Indonesia’s government.

Key Points: 
  • My colleagues and I have published new research exploring the risks of this response from Indonesia’s government.
  • Read more: Research reveals shocking detail on how Australia's environmental scientists are being silenced
    So why the recent crackdown on the researchers?
  • While Indonesia’s forest management is improving in some ways with deforestation clampdowns, there are still very real areas of concern.
  • To avoid being blindsided by future environmental catastrophes, Indonesia needs a dynamic and open scientific community – one that isn’t being pressured to toe the government’s line.