Exact word Contain word      |     Advanced Search
   
News 24231 to News 24240 of about 24764 news within page 2424
24231. 30/11/2001
   
MUMBAI, Nov. 26 (Business Line) - GLOBAL production of major oilseeds islikely to reach a new high in 2001-02 on the back of record soyabeanoutput, so will oilseeds crush. This will lead to record protein mealproduction, consumption and trade in the current year. World vegetable oilproduction, consumption and trade will also witness expansion but at aslower rate leading to drawdown of stocks.On current reckoning, production of major oilseeds and oil-bearingmaterial is forecast to record 323 million tonnes in 2001-02, up from 311mt last year. A 9 mt increase in soyabean output to an unprecedented 182.5mt, a 3 mt increase in cottonseed to 36.5 mt and 2.5 mt in groundnut to33.7 mt will be partially offset by lower sunflowerseed and rapeseed crop,according to the US Department of Agriculture (USDA).Latest estimate suggests soyabean output in the US will reach anunprecedented 79.5 mt, up from 75 mt of 2000-01, while forecast for Braziland Argentina (crop to be harvested in February 2002) will scale newhighs, continuing the consistent rise of the last few years.Brazil's soyabean production for 2001-02 is forecast at 41.5 mt (38.4 mt)and Argentina 28 mt (26.7 mt). Both China (15.3 mt) and India (5.6 mt)have more or less maintained their production volumes.Global oilseeds crush this year will expand to 263.5 mt (255 mt)encouraged by 7.5 mt increase in soyabean crush to 155 mt Together withhigher cottonseed and groundnut crushing, global protein meal productionis slated to reach 182.2 mt, of which soyameal will account for 123 mt.In case of major vegetable oils, the USDA has forecast production for2001-02 at 90.6 mt (88.7 mt) and consumption at 90.7 mt (88.2 mt). Acombined 1.1 mt reduction in rapeseed oil and sunoil production will bemore than offset by higher soyabean, palm, groundnut and cottonseed oilsproduction.Palm oil production: Malaysia national monthly average rainfall in the2001 third quarter fell below normal for only the second time in the last10 quarters.Additionally, excess precipitation in November 2000-January 2001 is likelyto reduce palm oil production prospects.As high yields are typically associated with above-average precipitation,the reduced third quarter has reduced palm oil yield prospects, USDA hassuggested.During 2001-02, Malaysian palm oil production is forecast at 12.2 mt, upfrom 11.9 mt of last year when the average yield was 4.06 tonnes perhectare. Malaysian palm oil area is currently estimated at 3.31 millionhectares and the yield is expected to be lower than last year's.
24232. 30/11/2001
   
NEW DELHI, Nov 28 (Reuters) - Indian officials were non-committal onWednesday about any immediate plans to revise the base prices for palmolein.Rumours have been circulating in the market this week that India, theworld's largest edible oil importer, plans to raise its RBD palm oleinbase price to $340 a tonne from $307.India fixes the base prices of various edible oils to preventunder-invoicing and to ensure the government does not lose revenue fromimport duties. Importers will have to pay duty on the fixed import pricesof the oil irrespective of the actual purchase prices.Traders in Kuala Lumpur said India uses an average C&F price for palmoil, in this case November, to determine the base price for the followingmonth.One official in the Finance Ministry said there was no immediate plansto change the base prices for edible oils but declined to comment further.Other ministry officials were also not forthcoming on the issue.In the key Malaysian market December RBD palm olein was offered onWednesday at $312.50, with January at $317.50 and February/March at $325.India imported a record 4.8 million tonnes of edible oils in the yearto October 2001, up from 4.49 million the previous year, according to theindustry estimates.Annual demand for edible oil in India is forecast to rise to 13-14million tonnes by 2004/05 (Nov-Oct), from about 11 million tonnes atpresent.
24233. 30/11/2001
   
JAKARTA, Nov 29 (Reuters) - Indonesia is seen producing around 8 milliontonnes of crude palm oil in 2001, far above its earlier forecast, due tonew plantations starting to yield their crop, a senior industry officialsaid on Thursday.The world's second largest palm oil producer had earlier forecastproduction at 7.3 million tonnes this year.Nafis Daulay, Chairman of the Indonesian Edible Oils Association(AIMMI) said Indonesia had exported 1.53 million tonnes of crude palm oil(CPO) in the first ten months of this year, while exports of its byproducts in CPO equivalent reached 2.18 million tonnes.Around 2.8 million tonnes of CPO was sold in the domestic market duringthe same period, he said."Output in November and December is seen at 1.4 million at least, sothe total production will reach more than 8 million tonnes," Daulay toldReuters.The Indonesian Palm Oil Producers Association (GAPKI) earlier forecastthe country to produce 7.3 million tonnes in 2001, an increase from around6.5 million tonnes a year earlier.But while he forecast a rise in production, Daulay said the total for2001 would not be as high as 8.5 million tonnes, a figure expected by manyregional palm oil traders.
24234. 30/11/2001
   
NEW DELHI, Nov 27 (Asia Pulse) - Online trading in edible oil startedtoday in Bombay, and is expected to facilitate the trade in refined,bleached and deodorized palm oil futures contracts with remote importersand overseas investors.India is the largest importer of edible oil and imported 4.8 milliontonnes in the 2000-01 season (November-October).Online trading will help take instant decisions as traders would haveready access to price trends. It eliminates delay in information flow byallowing direct trading, market sources said here.They said Bombay exchange trades about 4 million rupees worth of RBD palmoil futures a day. That could surge to 150 They said Bombay exchangetrades about 4 million rupees worth of RBD palm oil futures a day. Thatcould surge to 150 million rupees once it starts being traded online,traders said. RBD palm oil isn't traded on any other exchange in theworld.
24235. 30/11/2001
   
ST.PETERSBURG, RUSSIA, NOV 18, 2001 (A&G News via COMTEX) -- The minimumimport duty on sunflower,rapeseed and soybean oils will beincreased fromEURO 0.09 to EURO 0.14 per1 kg of bottled production and to EURO 0.1fornon-packaged oil.
24236. 29/11/2001
   
29 November 2001 (Business Times) - MALAYSIA’S crude palm oil (CPO)futures prices broke a key support level and fell across the boardyesterday due to the absence of fresh leads but traders insist it is atemporary situation caused by technical selling.This is despite most industry observers’ forecast early this month thatCPO prices are expected to perform well and float above the RM1,200 atonne level by year-end.By midday in yesterday’s trade on the Malaysian Derivatives Exchange(MDEX), the benchmark third-month February futures was down RM33 atRM1,109 a tonne after breaking the key support of RM1,120 a tonne.“CPO prices have been on an uptrend for the past two weeks and it has tocome down at some point on technical selling with a new key support ofRM1,100 a tonne,” a trader told Business Times in Kuala Lumpur yesterday.He said the market is also bogged down as some players remained anxiousover a possible increase in India’s refined bleached and deodorised palmolein base price.Rumours circulated in the market that the world’s largest edible oilimporter India plans to raise the base price to US$340 (US$1 = RM3.80) atonne from US$307 a tonne.“There is a possibility India will revise upwards the base price which mayeventually lead to a rise in import duties on Malaysia’s palm oil,” saidthe trader.India had increased import duty on Malaysia’s CPO three times last yearbefore the subcontinent finally reduced the duty to 65 per cent from 75per cent last month.India bought 2.38 million tonnes in 1999 and 2.03 million tonnes lastyear.Meanwhile, another trader said the market is expected to improve as longas the rainy season continues and export figures for November touch theone million tonne mark.According to the Malaysian Palm Oil Board, Malaysia exported 898,918tonnes of palm oil in October and many players expect November exports totop one million.Malaysia is the world’s biggest producer of CPO, exporting 8.32 milliontonnes in 1996 worth RM9.4 billion and 10.38 million tonnes with a salesvalue of RM12.47 billion last year.Meanwhile, December price dropped RM36 to settle at RM1,059 per tonnewhile January fell RM44 to settle at RM1,078 per tonne on MDEX yesterday.February contracts decreased RM46 to settle at RM1,096 per tonne and Marchfell RM44 to end at RM1,100 per tonne. Total turnover widened to 3,424lots from 2,318 lots on Tuesday, while open interest was down at 12,948contracts from 12,952 contracts previously.In the physical market, November South was traded at RM1,080 per tonnecompared with RM1,100 per tonne on Tuesday.
24237. 27/11/2001
   
BOMBAY, Nov 25 (Reuters) - India said on Sunday that growing import levelsof edible oils in the country, the world's largest buyer, was a matter ofconcern and needs to be corrected."The current import levels are ringing alarm bells," federal Food MinisterShanta Kumar told an oilseeds convention.India's foreign dependence on imported vegetable oils has currently risento about 40 percent from just three percent in 1992/93.The country imported a record 4.8 million tonnes of edible oils in theyear to October 2001, up from 4.49 million the previous year, according tothe industry estimates.Annual demand for edible oil in India is forecast to rise to 13-14 milliontonnes by 2004/05 (November-October), from about 11 million tonnes now.Annual oilseeds output has remained virtually stagnant in the last decde,despite several government initiatives. India produced 18.21 milliontonnes of oilseeds in 2000/01 compared with 18.61 million a decade ago."We have tried to correct it (the situation) by raising import duties fourtimes in the last two years but it did not solve the problem," Kumar said.There was a need to induce farmers to shift to cultivation of oilseedsfrom foodgrains, he said and added that the government was consideringincentives to boost oilseeds output.The government was also committed to provide an efficient marketing systemfor their produce, he added."We are surplus in grains production but fail to produce enough oilseeds,"Kumar said.India will have unprecedented grains stocks of about 75.5 million tonnesbefore wheat procurement will begin in April. As on October 1, India hadtotal grains stocks of 58.28 million tonnes against the buffer stockrequirement of 18.10 million tonnes.
24238. 27/11/2001
   
KUALA LUMPUR, Nov 24 (Bernama) -- International Trade and IndustryMinister, Datuk Seri Rafidah Aziz, will lead an 18-member Malaysiandelegation to the Fifth Malaysia-China Joint Economic and Trade Commission(JETC) meeting in Beijing on Nov 26, 2001.
24239. 26/11/2001
   
26 November 2001 (Business Times)
24240. 24/11/2001
   
SHANGHAI, Nov 21 (Reuters) - China has agreed to allow greater imports ofagricultural products like wheat corn and rice at lower duties after itjoins the World Trade Organisation on December 10.Below is a table detailing yearly import quotas agreed by China under atariff-rate-quota (TRQ) system which comes into effect after WTO entry:
[ first ]    [ prev ]    [2419]   [2420]   [2421]   [2422]   [2423]    2424  [2425]   [2426]   [2427]   [2428]   [2429]    [ next ]      [ last ]

ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7803 5544 || Fax : 603 - 7803 3533