Latest news with #palmoil
Bloomberg
3 days ago
- Business
- Bloomberg
Palm Oil Jumps on Demand Prospects After India Cuts Import Duty
Palm oil climbed to the highest level in almost three weeks on expectations for higher demand after top buyer India cut import duties. Futures in Kuala Lumpur rose as much as 2.6% after India announced on Friday a reduction to levies on edible oils including palm and sunflower in an effort to lower retail prices. The market was closed on Monday for a holiday.
Bloomberg
28-05-2025
- Business
- Bloomberg
Indonesia Is Pursuing the Worst Form of Solar Power
While the rest of the planet is catching on to the realities of energy, Indonesia is pursuing the most inefficient form of solar power — one that uses millions of hectares of land, is plagued by volatile supplies, and hides a dark legacy of environmental destruction behind its renewable image. We're talking about palm oil. The red grease is ultimately solar energy, soaked up by trees and converted into fatty fruit that can be crushed and refined into biodiesel. For all the angst about palm oil in cosmetics or confectionery, and its effect on endangered orangutan and tiger populations, by far the biggest use is Indonesian fuel.
