China has the sixth-largest national allotment of land used for genetically modified farming, according to a report by the International Service for the Acquisition of Agri-Biotech Applications. "The soybean oil sold in China is mostly made from GM soybeans imported from overseas. Why are we letting other countries make money from us, instead of doing it ourselves?" said Fang Zhouzi, a chemical biology expert.
Indonesian exports of palm and kernel oil fell to 1.87 million metric tons in January, a 1.4% decline from a month earlier. Sales to India and the EU increased, but exports to China dropped by 15%, according to the Indonesian Palm Oil Association.
U.S. production of high-oleic acid soybean oil is expected to increase 20 times over by 2017 from this year's levels, according to a discussion paper that seeks a Codex standard for the oil. Colombia and Argentina are pursuing such standards for high-oleic palm oil and sunflower oil, respectively.
The coconut industry in the Federated States of Micronesia is looking to rejuvenate itself with a focus on biofuels. "And really our main objectives are number one, create this socioeconomic opportunity across the value chain, particularly at the outer island level, and number two, build a strategy that will be attractive to outside investors to help us achieve that sustainability over time," said Olivier Wortel of Vital-FSM PetroCorp.
The French Senate has voted against a bill that would have increased import taxes on palm oil by 300%. The Malaysian Palm Oil Council says such a measure would increase the use of trans fat sources instead of improving healthful food consumption.