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News 25711 to News 25720 of about 27389 news within page 2572
25711. 04/08/2004
   
31/07/04 - According to the relevant sectors, the new standard for theimpurity content of the crude oil will be carried out from October 1 thisyear and the requirement for solvent residue content will be reduced byhalf, affecting the crude soyoil imports in the fourth quarter. Accordingto the overseas enterprises, the effects of the new standard on importedcrude soyoil will be great, making it more difficult to import edible oilsand the imports will decline, so the international traders are trying tofulfill the contracts before September and adopt a wait-and-see attitudeto the sales of crude soyoil for shipments after September. And thedomestic edible oil importers are worrying that signing new importcontracts will face greater risks.
25712. 04/08/2004
   
In South America the soya oil export basis remained firm due to thecurrent heavy exports to China and other destinations.In Brazil soybean stocks fell below the year-ago level in June, thedecline accelerated in July and will further widen in August. We estimatetotal Brazilian soybean stocks as of end-August at 17.7 Mn T, down by 2.3Mn T from a year earlier. A heavy pace of exports and crushings was notedso far this season and is expected to be high also in August and probablyin September. As of end-Sept 2004 we estimate total soybean stocks to bedown by 2.7 Mn T from last year. This will reduce Brazilian exports ofsoybeans and products during Oct/Jan 2004/05, shifting world demand to USorigin. The latest OIL WORLD estimates of Brazilian soybean supply &demand crop estimate of 50.2 Mn T, but we are aware that there is still awide range of estimates. At the end of last week ABIOVE estimated the cropat 50.6 Mn T while IBGE reduced its production estimate to only 49.0 Mn T.The IBGE number would, of course, lead to much lower soybean stocks as ofend- Aug and correspondingly smaller Brazilian crushings and exportsduring the remainder of this season. Soybean crushings of ABIOVE membersreached 2.55Mn T in June, the second-highest monthly number, only slightlytrailing the 2.57 Mn T processed in May. This brings the total soybeancrush for all of Brazil to about 2.89 Mn T in June (up 7% from last year)and the cumulation for Febr/June 2004 to 12.87 Mn T (up 7%). Soybeanexports in July amounted to 2.4 Mn T, down from 3.71 Mn T a month earlierbut still up sharply from 1.8 Mn T registered in June last year, accordingto government data. Brazilian exports of soya meal were smaller thanexpected at 1.2 Mn T in July and this contributed to an increase instocks. Exports had been much higher at 2.18 Mn T in June 2004.
25713. 04/08/2004
   
8/3/2004 - An amendment to the Food Safety (General Food Hygiene)Regulations 1995 has been published in relation to England only. Itimplements Directive 2004/4/EC which grant a derogation from certainprovisions of Directive 93/43/EEC on the hygiene of foodstuffs as regardstransport of bulk liquid oils and fats by sea. A revised definition of the'list of acceptable previous cargoes for liquid oils or fats' is added.√ĚThe new regulations are the Food Safety (General Food Hygiene) (Amendment)(England) Regulations 2004 (S.I. 2004 No. 1727). They come into force on30th July 2004.
25714. 04/08/2004
   
30/7/04 - World production of 7 oilseeds is set to recover sharply and islikely to reach 357.5 Mn T in 2004/05, according to our new forecast. Thisis up by 33.7 Mn T from last season's drought-reduced level of 323.8 Mn T.If our production estimates are achieved, price prospects for 2004/05 arebearish, primarily for soybeans and rapeseed. Even with our assumption ofan above-average growth in demand by around 17.3 Mn T, there will be asharp replenishment of oilseed stocks at the end of this season...
25715. 03/08/2004
   
2/8/2004 (Renewable Fuel News) New Delhi-- Indian Railways (IR), one ofthe world's largest rail networks, is planning to use biodiesel to powerlocomotives across the country by 2006.
25716. 03/08/2004
   
2/8/2004 (Business Latin America) - A record 2004-05 harvest is forecast.The season's yield of corn, soybeans, sunflowers and wheat should total75.5m tonnes, a 15% increase over the previous season, according to theInter-American Institute of Agricultural Co-operation (IICA). Thegovernment's decision to allow the planting of genetically modified cornseed (see next item) will help the country regain its place as the world'ssecond leading corn exporter after the US. Agricultural goods accountedfor 57% of Argentina's exports in the January-May period, says the IICA.
25717. 03/08/2004
   
BUENOS AIRES (Dow Jones)--Argentina, Brazil and the U.S. will send aletter to Chinese officials next week detailing their concerns about hownew food import rules in China might affect trade, Argentine AgricultureSecretary Miguel Campos said Saturday.The two South American nations combine with the U.S. to sell about 92%of the world's soybean exports, according to the U.S. Department ofAgriculture.China is the world's top soybean importer. The Asian giant is expectedto import 24 million metric tons of soybeans in 2004-05, USDA data show.China's demand for soy has rocked commodities markets in recent years,pushing prices up but also causing values to fluctuate dramatically.This has caused headaches for many soybean exporters. Matters weremade worse last month, when China changed its food import rules, causingfurther concern about how the country will deal with soy imports thisyear.To obviate any problems, Campos, U.S. Agriculture Secretary AnnVeneman and Brazilian Agriculture Minister Roberto Rodrigues will jointlywrite a letter to Chinese officials that expresses concern over the newrules.The decision to send the letter was made Friday after Campos met withRodrigues and Jim Butler, the U.S. Deputy Under Secretary for Farm andForeign Agricultural Services."We made the decision to express our concerns in a letter to AQSIS(China's General Administration of Quality Supervision, Inspection andQuarantine) and to the Ministry of Health," Campos said. "We are going toask for a technical meeting to inquire about the possibility of modifyingthese new rules."The letter will be delivered to Chinese authorities next week byambassadors from the three signatories, an Agriculture Secretariatofficial said Saturday.
25718. 03/08/2004
   
KUALA LUMPUR (Dow Jones)--Asian cash palm oil prices were weakerMonday, including the Malaysian market, though declines were small,despite sharp losses in soyoil futures.Bearish weather conditions dragged down soyoil futures at the ChicagoBoard of Trade Friday, with December soyoil ending 113 points lower.The weaker soyoil and persistent concerns over rising palm oilproduction weighed on prices.However, the market only fell slightly.Traders said recent keen buying interest from major consumers likeIndia and China was helping to support prices."Certainly, production is improving. But demand is also very strong aswell, and that demand is what is keeping the market steady," a tradersaid.Palm oil production is currently in its strongest period of the year.Slow exports in the first half of the year had prompted industryanalysts like private surveyor Palmis Management Bhd to warn that stocksmay swell to a burdensome level of more than 1.5 million metric tons laterthis year.However, recently there have been indications that demand is on therise again.Cargo surveyor Intertek Testing Services estimated Saturday a 14% risein July Malaysian palm oil exports to 1.1 million tons.Another surveyor, SGS (Malaysia) Bhd, released its figures Monday andalso estimated July exports around 1.1 million tons.Disappointing oilseeds-growing weather conditions in India hadprompted a wave of buying interest last month.The Indian buying has subsided in tandem with a revival of rains lastweek. But palm oil prices have held firm, as there has been fresh buyingfrom China, another major palm oil consumer, in recent days.A rise in domestic selling prices and declining stock levels spurredthe buying interest from China.Traders said demand from China also typically strengthens at this timeof the year, ahead of important festivals and holidays in September andOctober.However, it is uncertain whether the interest from China is merelyseasonal or could be sustained for the longer term.In the cash market, CPO for August shipment was offered at 1,460ringgit ($1=MYR3.8) a ton, down MYR5 from Friday, delivered basis in SouthMalaysia.RBD palm olein for August shipment was offered at $417.50/ton, down $5from Friday.RBD palm oil for August shipment was at $407.50/ton, also down $5.In Indonesia, RBD palm olein in Jakarta was offered at 4,275 rupiah($1=IDR9,160) a kilogram, down IDR25 from Friday.There were no offers for CPO in Medan so far as participants wait forthe next auction, traders said.The government is due to hold its semiweekly auction of palm oilTuesday.
25719. 03/08/2004
   
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25720. 03/08/2004
   
SINGAPORE (Dow Jones)--Chinese importers are rushing to sign newcontracts to book soyoil cargoes from South America before the Chinesegovernment enforces a more stringent rule in October that analysts said isaimed at curbing soyoil imports.This latest regulation on edible oil quality, released last week,stipulates that only crude soyoil that is of an equivalent standard torefined soyoil will be allowed into the country after Oct. 1. This willeffectively end China's imports of crude soyoil, most of which comes fromSouth America and is processed into more profitable refined oil for salein domestic markets.Soyoil imports in the first six months of this year soared 170% fromthe same period last year, according to Chinese customs data last month.The total volume of these soyoil imports wasn't available, nor was abreakdown on the amount of refined versus crude soyoil.The new regulation calling for higher standards of edible oil willeffectively stop importers from buying crude soyoil from South Americaafter Oct. 1, analysts said.Domestic soy crushers, plagued by weak demand for feed and competingwith a flood of foreign soyoil, have been clamoring for more governmentefforts to curb excessive vegetable oil imports in the hope of raisingdomestic oil prices.China will probably import another 430,000 tons of soyoil in Augustand 340,000 tons in September, bringing total soyoil imports during Juneto September to 1.3 million tons, analysts said.The Hamburg-based German trade publication, Oil World, also said lastweek that soyoil prices were much firmer in the cash markets across SouthAmerica due to strong buying from China.
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