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News 25111 to News 25120 of about 25514 news within page 2512
25111. 11/10/2001
06 October 2001 (NSTP)
25112. 09/10/2001
KUALA LUMPUR, Oct 1 (Bernama) -- The government expects that the even flowof palm oil exports to Pakistan and other consuming countries would bemaintained despite the distruption to certain shipping trades.
25113. 09/10/2001
KUALA LUMPUR, Oct 5 (Bernama) -- Malaysia should adopt the Indonesianapproach to the pricing of processed palm oil (PPO) to ensure thesustained development of its palm oil industry, said chairman of Palm OilRefiners Association of Malaysia (Poram) Toh Pang Huat on Friday.
25114. 09/10/2001
India Business Insight ,09/24/2001 - The edible oil production in thecountry during fiscal 2001-2002 is estimated at 8.21 million tonnes (7.16million tonnes during fiscal 2000-2001).Consequently, India's edible oil imports would fall to 5.15 million tonnesduring the year ending Oct 2002 from 5.5 million tonnes in the year endedOct 2001.The industry estimates India's winter-harvest oilseeds production to riseto 17 million tonnes in fiscal 2001-2002 from 15.8 million tonnes infiscal 2000-2001. Palm oil imports would be 3.15 million tonnes (3.64million tonnes). Import of soy oil, however, is likely to increase to 1.6million tonnes from 1.37 million tonnes.
25115. 09/10/2001
KUALA LUMPUR, Oct 5 (Reuters) - Partial actual data available indicatesCPO output rose 113,000 tonnes or 11.6 percent to an estimated 1.09million tonnes in September. Weather conditions were beneficial for bothcrop development and harvesting operations. Output continued to be strongin East Malaysia but appeared to be tapering off in most producing areasin Peninsular Malaysia. On a year-on-year basis, production declined twopercent. This represents a trend reversal after 12 consecutive months ofexpansion. In the 12 months to August this year, production surged 25percent to a record 13.3 million tonnes.Palm oil exports, in sharp contrast, plunged 215,000 tonnes to anestimated 665,000 tonnes in September from 880,000 tonnes in the previousmonth. They also fell considerably by 126,000 tonnes from a year earlier,a sharp turnaround from 11 consecutive months of growth since October lastyear. The dismal month-on-month performance reflected significant cutbacksin offtake by several major buyers, namely Pakistan, India and theEuropean Union (EU). Malaysia's palm oil export performance to India hasdeteriorated rapidly in recent months. Shipments to India this yearreached a high of 243,000 tonnes in March. The following six monthsshipments averaged around 143,000 tonnes a month. The estimated shipmentof 80,000 tonnes in September to India is the lowest recorded this yearand 56 percent lower than the same month last year. On an annual basis,shipments to India had contracted 31,000 tonnes in the second-quarter andaround 35,000 tonnes in the third-quarter.The outlook for the last three months is likely to be much lower than the666,000 tonnes taken in the last quarter of last year. While palm oilexporters can contend with a 1.2 million tonnes rise in Indian oilseedharvest in the next two months, they are frustrated in their efforts tocompete on an equal footing with soybean oil (SBO) imports which hadsurged sharply to 312,000 tonnes in August from an average of 130,000tonnes a month in the preceding four months and 126,000 tonnes a yearearlier. India created a tough barrier for palm oil in March when itraised import duties steeply on CPO to 75 percent and RBD Olein to 92.4percent but favoured SBO with much lower duties of 45 percent for crudeand 50.8 percent for refined. This barrier was further raised on August 3when it introduced "tariff values" for the computation of import duties.This apply only to palm oil and not other oils which continue to payduties on the basis of "invoice or transected value". Soon afterannouncing tariff values of $335 for CPO, $372 for RBD Olein and $351 forRBD palm oil, officials from the Central Board of Excise and Customsclarified that the values were determined on the basis of averageinternational price in recent weeks and that they would be revisedaccordingly should there be any marked or significant changes in price.From what we can establish, the tariff values on August 3 were based onprice during July 16-27. Nearby price for CPO (CIF Rotterdam) and RBFD Oln(FOB Peninsular Malaysia) hit a high of $390 and $380 respectively inearly August. Since then they had fallen sharply by 30-35 percent to aslow as $272.5 and $245 respectively this week. We tried to determine thetariff values on the basis of sellers price during September 17-28 andcame out with $268 for CPO and $297 for RBD Oln. They representsignificant declines of $67 (20 percent) and $76 (20 percent) respectivelyfrom the August 3 values. These latest values would effectively lower theduties payable on CPO and RBD Oln by some $50 and $69 per tonrespectively. By ignoring the market changes in price and maintaining theAugust 3 values, the Indian government has effectively raised importduties on CPO and RBD Oln to 94 percent and 116 percent respetively. Suchintransigence or utter disregard on the part of the Indian authorities canbe construed as the adoption of minimum customes values targeted solely atpalm oil to make it near impossible for its importantion. India is amajor factor in the contraction of Malaysia's palm oil exports and theresulting jump in palm oil stocks form 878,000 tonnes at end August to1.17 million tonnes at end September and possibly above 1.3 million tonnesat the end of this month.
25116. 09/10/2001
MANILA, Oct 5 (Bernama) -- The Philippines is pushing the development ofthe palm oil industry and is ready to offer some 100,000ha of land forprospective Malaysian investors.
25117. 09/10/2001
KUALA LUMPUR, Oct 5 (Bernama) - Malaysia must intensify efforts to raisepalm oil exports and boost competition amidst rising stocks andcompetition from other edible oils, Primary Industries Minister Datuk SeriDr Lim Keng Yaik said here Friday.
25118. 09/10/2001
KUALA LUMPUR, Oct 6 (Bernama) - With 35 million tonnes of oil palm biomassbeing produced as a result of extracting 10 million tonnes of crude palmoil in Malaysia annually, opportunities are abound for turning the wastematerial into commercial use, it was announced today.
25119. 09/10/2001
CALCUTTA, 10/8/2001(Financial Times) - An indifferent monsoon anddiversion of land to more lucrative crops have led to India's lowestoilseed harvest in a decade.This is expected to make the country a large buyer of vegetable oils inthe coming weeks.According to trade officials, India's vegetable oil imports (mainly palm,soyabean and sunflower oil) in the current season will jump to nearly 5mtonnes from 4.5m tonnes in 1999/2000.The Indian federal government is concerned about the fall in oilseedproduction from a record 24.7m tonnes in 1998/99 to 17.37m tonnes in theyear starting in November 2000 and ending this month.The fall will give imports a share of nearly half the country's vegetableoils market.Farm officials said the setback in the oilseed crop was the result of afall in the area under cultivation in the current season, together with"moisture stress" in many growing centres last month coinciding withflowering and pod formation."In the last 10 years, the minimum support prices for wheat and rice wereup 2.5 times, against 1.7 times for oilseeds. This has caused alarge-scale diversion of land from oilseeds to other crops," said anofficial.The country is facing the peculiar situation of having wheat and ricestocks of nearly 62m tonnes, compared with a "food security" requirementof 25m tonnes, while poor oilseed production is triggering large importsof vegetable oils.JNL Srivastava, agriculture secretary, said the anomaly would be correctedby a combination of getting more land under oilseed cultivation,productivity improvements and contract farming.Farm officials say it should be possible to lift oilseed production by upto 40 per cent because, at about 900kg a hectare, Indian oilseedproductivity is currently half the world average."Give the farmers high-yielding and pest and drought-resistant seeds andtechnology and they will usher in a revolution in oilseed production,"said Ashok Sethia, a leading importer.
25120. 05/10/2001
10/1/2001 (Philippine Daily) - EXPORT markets for local coconut oil inChina are being eyed to offset the expected drop in export revenues fromsales to Europe and the United States.Danilo Coronacion, administrator of the Philippine Coconut Authority, saidthe $900-million coconut industry can be tapped to offset the anticipated15-percent reduction in the country's exports to the US due to theescalating conflict with Muslim extremists.Possible markets include China, South Korea and Japan.Coconut oil, which is extracted from dried coconut meat, is the country'sbiggest farm export product."We will soon sign a product-swap arrangement with China. They would giveus farm machinery and other equipment in exchange for our coconut oil,"Coronacion said.The expected decline in exports to the United States coincided with thedecline in Europe's purchases of Philippine coconut oil. Aside from theuncertainties following the terrorist attacks on the US, the decline wasalso attributed to the more stringent import measures on agriculturalproducts.European countries such as United Kingdom and France clamped down on theentry of agricultural products as they begin to trace the origins of themad cow disease that plagued their cattle industry, causing millions ofdollars in losses."We hope to instead increase our coconut oil exports to South Korea andother Asian countries as a contingency measure since industry expectslower exports to Europe," Coronacion said.PCA and the agriculture department are also looking into other uses forcoconut oil to service both domestic and foreign markets, in a bid tocushion the impact of fluctuating prices in the world market.The domestic market currently absorbs about 20 percent of the coconut oilproduced by the industry and used for commercial and industrialmanufacturing purposes and about 70 percent are exported to the UnitedStates, Europe and to other Asian countries.He said that they would pursue the marketing of coco-diesel andcoco-bunker fuel as substitutes for the expensive fossil fuels now beingsold by local oil firms. Coco-diesel is currently priced at P12 to P12.50per liter while the diesel sold at gas stations are at about P14 to P14.50per liter.The PCA would also push for the use of coconut oil in making detergentsinstead of hard surfactants.The PCA chief expected that export prices of coconut oil would remain lowthis year due to a global oversupply of vegetable oils.Copra prices are estimated to hit $289.50 per metric ton this year, lowerthan the annual average $300 per metric ton price. Last year, copra pricesin the world market averaged $446 per metric ton.
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