Biodiesel

Chicago wheat and corn futures slid yesterday, with prices under pressure after a deal to export grains from war-torn Ukraine was extended over the weekend, easing some of the concerns over global supply.

Soybeans ticked lower on ample supplies from newly harvested record crop in Brazil.

Motor Oil Group announced the acquisition of all the shares of the "ELIN VERD" company. VERD was founded in 2005 and is engaged in the production and marketing of biofuels. The company has a biodiesel production plant in Volos with a production capacity of 80,000 tons of biodiesel per year.

The Indonesian Ministry of Commerce has threatened to impose higher tariffs on EU dairy products in response to the proposed measure by the bloc on palm oil biodiesel, the BTA quoted France as saying.

The warning could exacerbate the trade dispute between the EU and Indonesia, which is the world's largest producer of palm oil. The EU plans to reduce palm oil-based biofuels by 2030.

Indonesia, which is the largest producer of palm oil, plans to raise the import duties on dairy products from EU countries to 8-18 percent.

The intention of raising the tariffs was announced by the Minister of Commerce of the Asian country Enggartiasto Lukita. The measure is in response to the Union's plan to impose similar duties on Indonesian palm oil biodiesel, he added.

Fuel sales continued in the first quarter of the year the decline recorded in 2017, while the sector pins its hopes for a market recovery on tourism and the measures for containing smuggling phenomena.

A project initiated by Turkish experts to turn olive mill wastewater from olive production into industrial raw materials and products such as biodiesel and animal feed has received the support of a European Union program.

Biofuels in the EU are deeply intertwined with global food and feed markets. As the EU discusses its future biofuels policy, their contribution to the bloc’s animal feed supply and impact on food prices have emerged as major battlegrounds between supporters and critics.