The EU should extend the free carbon allowances to industry
The top business lobby in the European Union has urged 'the bloc to maintain free carbon permits for industry, adding pressure on officials who are preparing an overhaul of the EU Carbon Market. Brussels is redesigning its Emissions Trading System (ETS), which is the EU's main climate tool that forces factories and power plants to buy CO2 permits when polluting. ETS is under increasing political pressure from leaders concerned about Europe's declining competitiveness.
What's in the EU's proposed 'Made in Europe' law draft?
Next week, the European Commission will introduce a new law requiring a minimum percentage of products to be "made in Europe" when using public money to support 'key strategic technologies. Why do it? Why do it? Prioritizing European-made products in public contracts will allow the EU to leverage the financial power of public procurement, which is more than 2 trillion euro ($2.37 trillion), or 14% of EU output. What will the law do?
WTO panel supports China in its case against US clean-energy subsidies
The World Trade Organization panel backed China's complaint on Friday, and recommended changes to the?U.S. Beijing claimed that tax credits for clean-energy?discriminated against imports. The report of the panel recommended that the United States remove the Inflation Reduction Act measures by October 1, 2026. The panel stated that "that date seems to be a reasonable deadline" for the withdrawal of the ITC/PTC Bonus Credits. The 'office of the U.S.
Oil Prices Slip, Pressured Over Global Supply Glut
Oil prices fell by nearly 2% on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.Brent crude futures were down $1.06, or 1.7%, at $60.23 a barrel as of 1312 GMT, while U.S. West Texas Intermediate futures fell $1.03, or 1.8%, to $56.51.Oil traders' concerns have shifted from under-supply to over-supply…
VEGOILS - Palm posts weekly gain and snaps three-week loss streak
Malaysian palm-oil futures ended a three week losing streak on Friday by posting a weekly gain. Short coverings supported the market while concerns about weak demand in India weighed. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for December delivery fell by 4 ringgit (0.09%) to 4,442 Ringgit ($1,056.11) per metric ton. The contract increased by 1.05% in the past week.
Palm steady set to gain weekly on short covering
Malaysian palm futures rose slightly on Friday, and remain on track to achieve its first weekly increase in four weeks as investors closed their short positions. This helped to support the market. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for December delivery gained 2 ringgit or 0.04% to 4,448 Ringgit ($1,055.28) per metric ton. The contract is up 1.36% this week.
Indonesia regrets EU's decision to appeal WTO biodiesel ruling
The Indonesian Trade Ministry on Thursday called on the European Union (EU) to accept the World Trade Organization panel's ruling on removing countervailing duty on Indonesian imports of biodiesel and regretted that the bloc had appealed the WTO decision. Last week, the European Union announced that it would appeal the WTO panel's ruling, which supported Jakarta's claim, that the duties levied…
Palm slips on Dalian palm oil
The price of Malaysian palm olein futures dropped for the second session in a row on Tuesday. This was due to profit taking. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for delivery in November had fallen 8 ringgit or 0.18% to 4,484 Ringgit ($1,066.35) per metric ton. A Kuala Lumpur based trader reported that crude palm oil futures continued to fall amid pressure from Dalian Palm Olein.
Palm slips on demand as prices rise
Malaysian palm futures fell on Monday as fears that recent high prices could dampen future demand weigh on the market. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for November delivery fell 36 ringgit or 0.79% to 4,493 Ringgit ($1,068.49). The contract increased by 1.55% during the previous session. Crude palm futures fell, retracing a portion of the gains made last week, as high prices could curb future demand.
Palm prices fall as demand is threatened by high prices
Malaysian palm futures fell on Monday amid fears that recent high prices may dampen future demand. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for delivery in November fell 22 ringgit or 0.49% to 4,507 Ringgit ($1,073.86) per metric ton. The contract increased by 1.55% during the previous session. Crude palm futures fell, retracing a portion of the gains made last week, as high prices could curb future demand.
After WTO ruling, Indonesia calls on the EU to remove biodiesel countervailing duties
The Indonesian trade ministry urged on Monday the European Union (EU) to remove immediately countervailing duty on biodiesel imported after the World Trade Organization (WTO) backed Indonesia on several key claims made in a complaint filed with the trade body. In 2023, Indonesia filed a complaint with the WTO alleging that the EU imposed duties on biodiesel imports from Indonesia in violation of the rules of the body.
WTO panel supports Indonesia on multiple counts in biodiesel dispute with EU
An official copy of Friday's ruling revealed that a World Trade Organization panel had sided with Indonesia in several important claims made in its complaint against countervailing duty imposed by the European Union for biodiesel imported from the country. In 2023, Indonesia filed a dispute with the WTO alleging that the EU imposed duties on biodiesel imports from Southeast Asia in violation of the rules of the body.
WTO panel supports Indonesia on multiple counts in biodiesel dispute with EU
An official copy of Friday's ruling revealed that a World Trade Organization panel had backed Indonesia in several key claims made in its complaint about countervailing duty imposed by the European Union against biodiesel imported from the country. In 2023, Indonesia filed a dispute with the WTO alleging that EU duties imposed on biodiesel imports from the Southeast Asian country violated the rules of the body.
EU Chief: EU to counter new US tariffs
The European Commission's Ursula von der Leyen said that Donald Trump's tariffs on all goods and services were a serious blow to the global economy. She also stated that the European Union would be prepared to take countermeasures in the event of a failure to reach an agreement with Washington. Von der Leyen stated that the EU had already finalised a first set of tariffs for mid-April on goods worth up to 28.4 billion dollars ($26 billion) from the United States in response to U.S.
Sources say that the White House is considering an executive order to speed up deep-sea mines.
Two sources who are directly involved in the White House's deliberations say that they are considering an executive order which would expedite permits for deep sea mining in international waters. This would allow mining companies to bypass a United Nations review process. The order, if signed, would be the latest effort by U.S. president Donald Trump to tap into international deposits of nickel and copper…
Uzbekistan introduces tariffs on raw material exports before joining WTO
The Uzbek Tax Committee announced that Uzbekistan would introduce export duties for 86 raw materials including natural gas and cotton fibres, silk, wheat, copper, and wheat in preparation for its application to join the World Trade Organization. The new measure will be effective on July 1. It is intended to improve Uzbekistan’s export regulations and to encourage local producers, Azizbek Urunov said Tuesday.
How Trump's tariffs could affect the commodity and energy sector
Donald Trump, the U.S. president, imposed duties on Canada and Mexico of 25% each and China a 10% tax on Saturday. He said the measures were necessary to fight illegal immigration and drug trafficking. Canada and Mexico immediately pledged retaliatory actions, while China announced it would challenge Trump’s tariffs at the World Trade Organization as well as take other countermeasures. Trump's decision has caused volatility on the commodities markets.
After EU ruling, Indonesia expects EU to change its stance on palm oil biofuels
Indonesia has welcomed the World Trade Organization's ruling in the case of the European Union involving palm oil-based Biodiesel. The bloc is expected to amend its regulations to conform to the ruling. Indonesia, the world's biggest palm oil producer, brought the case before the WTO dispute panel in 2019. The EU had decided that palm-oil-based diesel was not to be considered as a biofuel because of its connection to deforestation.
WTO panel backs EU in palm case against Indonesia
The World Trade Organization panel ruled in favor of the European Union in the case filed by Indonesia on Friday against the bloc's ban on biofuels based on palm oil. Indonesia, the largest palm oil producer in the world, took the case before the WTO after the EU concluded palm oil cultivation leads to excessive deforestation, and shouldn't count towards its renewable energy target. Palm oil-based diesel was not considered a biofuel…
Canada opens Pacific trade pact to new members following Taiwan's complaint
Canada's government confirmed that a major Trans-Pacific Trade Pact is still open for other aspirant member countries, including Taiwan, to join. This was after Taipei complained about the lack of a working group that would consider Taiwan's entry. Taiwan's Government expressed its disappointment Friday at the fact that members of Comprehensive and Progressive Agreement for Trans-Pacific Partnership…