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News 25111 to News 25120 of about 26837 news within page 2512
25111. 14/08/2004
   
NEW DELHI, Aug 13 Asia Pulse - Government is considering a cut in theprices on which import duties are levied on vegetable oils as part of themeasures to check inflation.
25112. 14/08/2004
   
ISLAMABAD, Aug 13 Asia Pulse - The growth in the imports of five majorgroups raised the import bill by 37.24 per cent to US$1.372 billion duringthe first month of 2004-05, as against $0.999 billion during the samemonth of last year.
25113. 14/08/2004
   
Saturday August 14, 2004 - SEREMBAN: An attempt to illegally siphon offcrude palm oil by trailer drivers was foiled when police caught sevenpeople near the Mantin-Kajang trunk road here on Thursday.
25114. 14/08/2004
   
CEDAR FALLS, Iowa (Dow Jones)--The world oilseed production forecastfor 2004/05 was reduced 338,000 tons in August to 378.8 million tons, theU.S. Department of Agriculture said Wednesday in its "Oilseed: WorldMarkets and Trade" report.The decline is in response to a lower U.S. soybean production forecastof 78.3 million tons, down 1.7 million tons from the previous month, thereport said. Offsetting this decline were increases in global cottonseed,rapeseed, sunflowerseed and peanut production.Increased cottonseed and peanut production forecasts were the resultof increases in U.S. production. U.S. cottonseed production increased662,000 tons in August to 6.7 million tons while U.S. peanut productionrose 214,000 tons to 2.0 million tons. Increased planted area andimproved yield projections prompted the increases.Similar yield increases helped push EU and Canadian rapeseedproduction forecasts higher this month. Canada's rapeseed crop is forecastto reach 7.2 million tons in 2004/05 while the EU rapeseed crop isexpected to reach 13.0 million tons. The global 2004/05 sunflowerseedproduction forecast was raised 100,000 tons to 26.1 million tons thismonth in response to an increase in Russian production.World oilseed trade forecasts for 2003/04 and 2004/05 were reducedthis month primarily due to lower soybean imports by China, Thailand andIndonesia. The global soybean import forecast for 2003/04 was lowered 2.0million tons to 55.6 million tons while the 2004/05-import forecastdeclined nearly 1.2 million tons to 64.5 million tons. The decline inChina's soybean imports, down 1.1 million tons to 16.9 million tons in2003/04, and 1.0 million tons to 23.0 million tons in 2004/05, reflectsthe slower pace of imports corresponding to the decline in crush margins.Indonesia's soybean import forecast was lowered 400,000 tons in2003/04 and 200,000 tons in 2004/05 in response to a slower import pace ashigh soybean prices reduced demand for food use. Thailand's soybean importforecast was reduced 450,000 tons in 2003/04 and 400,000 in 2004/05 inresponse to continued difficulties with avian flu that has reduced demandfor soybeans and poultry feed. World soybean exports were lowered 1.7million tons in 2003/04 to 56.4 million tons and 1.5 million tons in2004/05 to 64.8 million tons.Other oilseed trade changes this month include a reduction in China'speanut exports for 2003/04 and an increase in China's rapeseed importforecast in 2004/05. China's peanut export forecast was reduced 150,000tons in response to an observed decline in the export pace this year.Exports are forecast to reach 900,000 tons this year, 192,000 tons below2002/03 and near the level reached in 2001/02. China's rapeseed importforecast for 2004/05 was increased 200,000 tons to 1.4 million tons.Growing world supplies of rapeseed, coupled with reduced soybean andcottonseed crush and continued growing demand for vegetable oil in China,prompted the increase in rapeseed imports.Global oilseed ending stocks rose significantly this month for both2003/04 and 2004/05. Increased Brazilian soybean stocks in 2003/04, andincreased soybean stocks in Argentina, Brazil and the U.S. in 2004/05accounted for most of the increase. World soybean stocks are forecast toreach 36.2 million tons in 2003/04, up 2.7 million tons, and 50.2 milliontons in 2004/05, up 3.2 million tons.Forecast world protein meal production was reduced this month for both2003/04 and 2004/05. Protein meal production was lowered 2.0 million tonsin 2003/04 and 1.6 million tons in 2004/05 to 192.6 million tons and 206.2million tons respectively. Much of the decline in protein meal productionwas due to a reduction in soybean crush, primarily in the U.S., China,Thailand and Brazil.Brazil's soybean meal production forecast for 2003/04 was reduced 1.0million tons to 23.6 million tons in response to lower export demand. Thedecline in 2004/05 was not as dramatic with production down 273,000 tonsto 27.4 million tons. U.S. soybean meal production, which increased341,000 tons to 32.6 million tons in 2003/04, was lowered 408,000 tons to35.1 million tons in 2004/05 in response to the lower soybean productionforecast this month.Reduced soybean meal production in China and Thailand is in response tolower demand for meal and associated declines in soybean imports.Global protein meal trade was also reduced this month. Global importswere reduced 746,000 tons in 2003/04 and 576,000 tons in 2004/05. Reduceddemand for soybean meal imports dominated the changes this month, led bylower imports by Indonesia and Thailand due to reduced demand for poultryfeed. Imports were also reduced for the EU, Turkey, and the U.S. for2003/04. Brazil's exports absorbed most of the impact of reduced tradevolume with soybean meal exports lowered 1.5 million tons in 2003/04 and523,000 tons in 2004/05.Global vegetable oil production was reduced 377,000 tons in 2003/04and 168,000 tons in 2004/05 to 100.8 million tons and 105.5 million tonsrespectively. While a decline in soybean oil production dominated thechange in 2003/04, increased rapeseed and sunflowerseed oil productionpartially offset reduced soybean and cottonseed oil production in 2004/05.World cottonseed oil production was reduced 103,000 tons to 4.2million tons in 2004/05 due to a 500,000-ton decline in cottonseed crushin China. Offsetting some of this decline was an increase in rapeseedcrush in China and sunflowerseed crush in Russia.Global vegetable oil imports were reduced for 2003/04 and 2004/05.Soybean oil accounted for a significant share of the reduction in bothyears, down 186,000 tons in 2003/04 and 199,000 tons in 2004/05.Significant reductions in soybean oil import forecasts were noted forAlgeria, Iran, India and Malaysia for 2003/04 and for China and Malaysiain 2004/05. Reductions in soybean oil export forecasts were entered forMalaysia and Brazil in both years. Palm oil imports by China wereincreased 103,000 tons in 2004/05, helping offset lower soybean oil andcottonseed oil supplies in 2004/05.
25115. 13/08/2004
   
12/08/04, SAO PAULO (Dow Jones)--Brazil soybean export registrationsfor the 2004-05 marketing year (February-January) edged forward to 19.12million metric tons in the second half of July, according to officialfigures released Thursday.Registrations rose slowly from the 18.64 million tons registered onJuly 31 but remain well ahead of the 17.345 million tons registered at thesame stage the previous year, according to government figures madeavailable by the Brazilian Association of Vegetable Oil Industries, orAbiove.Abiove forecast soybean exports will reach a record 19.8 million tonsin 2004-05, down from 19.99 million tons last year.Soymeal registrations totaled 10.31 million tons up to July 31, up461,000 tons from July 15 and just ahead of the 10.15 million tonsregistered for export at the same time last year.Exports of meal are expected to total 15.200 million tons, accordingto Abiove, up from 13.577 million tons last year.Soyoil registrations rose 135,000 tons in the last 15 days of July,totaling 2.16 million tons for the 2004-05 season, up from 1.66 milliontons at the same stage last year.Soyoil exports are seen reaching 2.7 million tons in 2004-05, up from2.40 million tons the year before.Brazil is the world's No. 2 producer and exporter of soybeans.
25116. 13/08/2004
   
12/08/04, INDIA (Oilmandi) - Indian crop output especially oilseed outputis likely to fall by 7.6 per cent to 23.1 million tonnes in the currentcrop year following poor rains in growing belts, CMIE said on Wednesday.This is going to force India, the largest consumer of oilseeds to importmore oilseeds this year. India imported oilseeds worth $2.5bn last year.
25117. 13/08/2004
   
12/08/04 INDIA (Oilmandi) - Government on Wednesday said there was no moveto cut import duties on edible oils and asserted that the prices of allessential food items were by and large stable in the country.
25118. 13/08/2004
   
12/08/04- MIKE ZUZOLO, analyst with Risk Management Commodities Inc.,Lafayette, Ind., on Thursday's U.S. Department of Agriculture grain andoilseed reports:"The soybean market was surprised by the USDA's crop projection belowthe range of estimates and with the 2004-05 carryout cut below 200 millionbushels, the unwinding of spreads is likely until will get to theSeptember crop report.
25119. 13/08/2004
   
12/08/04, KUALA LUMPUR (Dow Jones)--Asian cash palm oil prices weremixed Thursday, with products in Malaysia unchanged to slightly higheramid slow trading as supply and demand figures for July failed to inspireinterest.Activity in the Malaysian market has been sluggish for most of theweek amid uncertainty over price direction.The government-run Malaysian Palm Oil Board issued official Julysupply and demand figures midday.The MPOB said Malaysia's palm oil exports in July rose 25.4% on monthto 1.11 million tons. It said July palm oil output rose 8.5% on month to1.27 million tons while end-July stocks rose 6.6% on month to 1.29 milliontons.Traders said the MPOB report had little impact on the market.Although exports rose sharply in July, the upbeat demand figures wereoffset by stronger-than-expected growth in production.As a result, end-July stocks as reported by the MPOB were largelywithin expectations, traders said.Wednesday, traders said private surveyor Palmis Management Bhd. hadestimated end-July stocks at 1.315 million tons, only slightly higher thanMPOB.Traders said participants were still unsure about the outlook for palmoil prices and largely stayed on the sidelines.Market players are waiting for the U.S. Department of Agriculture'smonthly soybean crop report, due later Thursday and expected to bebearish.They are also watching developments in India amid talk that thegovernment may cut import duties on edible oils.India's Business Standard quoted unnamed sources as saying India'sfinance ministry is likely to reduce import duties on nine commodities,including edible oils, to stem inflation.There has also been rumors of a potential reduction in base prices forpalm oil imports. The government calculates import duties for palm oilproducts according to a set of predetermined base prices, regardless ofactual market prices.Meanwhile, traders said palm oil prices may struggle to move higher inthe near term if, as expected, the USDA's soybean crop report is bearish.They said renewed selling interest from a large trading company, whichexports mainly to the Middle East, may also keep the market underpressure."They are selling October/November/December palm olein at $402.50 (ametric ton), which is $5 cheaper than what other sellers are offering," atrader said.Aggressive selling pressure from the trading company has, in the past,led to a drop in prices, though often short lived, traders said.In the cash market, CPO for August shipment was offered at 1,490ringgit ($1=MYR3.8) a metric ton, unchanged from Wednesday, deliveredbasis in South Malaysia.RBD palm olein for August shipment was offered at $425/ton, up $2.5from Wednesday.RBD palm oil for August shipment was at $415/ton, also up $2.5.In Indonesia, the government sold 4,500 tons of CPO at a semiweeklyauction Thursday, said an official from PT Perkebunan Nusantara, theagency that sells palm oil from state-run plantations.The official said the auction price was up 15 rupiah ($1=IDR9,228) akilogram from the previous auction.PT Nubika Jaya bought 1,000 tons, ex-factory, at IDR3,656/kg.PT Musim Mas bought 1,000 tons, ex-factory, at IDR3,624/kg.PT Permata Hijau Sawit bought 2,000 tons, free on board Belawan, and500 tons, FOB Dumai, at IDR3,717/kg.Although higher than the previous auction, Thursday's prices were downIDR13 from Wednesday.RBD palm olein in Jakarta was offered at IDR4,300/kg, up IDR25 fromWednesday.
25120. 13/08/2004
   
12/08/04, CEDAR FALLS, Iowa (Dow Jones)--U.S. soybean futures areexpected to open with strong gains Thursday after the governmentsurprisingly cut both 2004-05 production and ending-stock estimates morethan expected, analysts said at a Chicago Board of Trade press briefingfollowing the U.S. Department of Agriculture's release of its August cropproduction and supply and demand reports.In addition, Vic Cook, managing director of Global Weather Services inOverland Park, Kan., said by telephone that with the abnormally cooltemperatures currently in the Midwest, there is a "higher-than-normalchance for an earlier-than-normal frost" this crop season.The U.S. soybean data was definitely the surprise for the market, acrop analyst said during the CBOT teleconference.The USDA pegged 2004-05 soybean production at 2.877 billion bushels,down from 2.940 billion in the previous report and below tradeexpectations of around 2.97 billion.U.S. soybean ending stocks fell 20 million bushels to a tight 190million bushels. Soybean exports for 2004-05 were trimmed 20 millionbushels to 1.030 billion bushels."The biggest surprise today (Thursday) is the soybean yield comingdown from the prior report. The market was expecting something obviouslyhigher. So with that, and especially in light of yesterday's (Wednesday's)new lows on fund selling, we'll probably get a positive response," saidRichard Feltes, director of research at Refco.However, the USDA raising global stocks of soybeans, corn and wheat inThursday's supply and demand report may temper the bullish enthusiasm insoybeans, he added."Globally we're swimming against the tide on the grains...and withmore soybean stocks at the end of the marketing year," Feltes said.Seasonally, action in the soybean market favors the bulls at thistime of the year as prices have generally risen on the August USDA cropnumbers, Feltes said. "Longer term, the March contract has been up betweenthe 18th of August and the 4th of September in 15 out of the last 16years. November beans have been up nine of the last 15 years in the weekfollowing the August crop report," he said.However, with global demand "withering," it may be difficult to keepsoybean futures headed higher in the long run, Feltes added.China will continue to hold the key for U.S. grain and oilseedexports, Feltes said, as the world learns more about its internal marketsand food needs. However, Beijing's grains stocks are still a state secret,"and we as analysts here in the United States still don't know what theyhave on hand," he said.On soybeans, Cook said he was surprised by the USDA trimming theaverage U.S. yield to 39.1 bushels an acre."Our Global Weather Service crop model expected them to be a littlehigher than that. I, for one, think that we might see some increase inthat number between now and the September values," Cook said.While temperatures in some areas of the Midwest are 15 to 20 degreeslower than normal for this time of year, a warming trend is expected andtemperatures should be close to normal by the middle of next week, hesaid.Temperatures may still be cooler than normal after that, "but notabnormally cool like we have been the last few days," Cook said.Comparing statistical data from the last 50 years, Cook said his GWSstaff found that the majority of the 10 coolest summers were followed bycooler-than-normal autumns."If we carry that trend on, there is a probability that we'll see acooler-than-normal autumn this year and it may translate this year intothe chance for an earlier-than-normal frost. There are no real goodnumbers yet on when that frost might be and whether or not it'll be earlyenough to do any damage, but that's the way the statistics look rightnow," Cook said.Chances for an earlier-than-normal frost in the upper Midwest are near65% to 70%, he estimated.
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ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
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