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News 26881 to News 26890 of about 28632 news within page 2689
26881. 23/08/2004
WASHINGTON (Dow Jones)--The American Soybean Association, a U.S.producer group, was informed this week by the U.S. Department ofAgriculture that the potent Asian strain of rust fungus has beendiscovered in Colombia, farther north than ever before in South America, aspokesman for the group said Friday.Bob Callanan, communications director of the American SoybeanAssociation, said the discovery means the fungus spores have "made anadvance towards the United States" past the Equator.A USDA official, speaking on terms of anonymity, confirmed that Asianrust has been discovered in Colombia, north of the Equator.The official would give no other details on the discovery.The USDA's Economic Research Service released a report in Aprilpredicting that the net economic losses from an outbreak of the soybeanyield-slashing Asian rust would range from $640 million to $1.3 billionfor the first year of damage if the fungus reaches the U.S.A spokeswoman with the Colombian Agricultural Institute, the country'sofficial sanitary agency, said Friday that preliminary tests gave noindication that Asian rust had moved into Colombia."A first test ... showed there was no rust," said Angela Neira, of theinstitute's press office. "We're carrying out a second test to confirmthis."Callanan said that despite the news of the fungus' discovery inColombia, first reported Friday by DTN, the American Soybean Associationis telling its members that there is no immediate cause for alarm but thatthey should still remain vigilant for signs of Asian rust.He said it may still be years before the fungus reaches U.S. soybeanfields, but the group is already helping farmers prepare for its arrival.Previously, Asian rust was believed to have infested only fields inBrazil and other countries below the Equator, but the presence of thefungus above the Equator in Colombia "puts it closer to either beingcarried across the Caribbean Sea - airborne - or across the land bridge upthrough Central America," Callanan said.
26882. 20/08/2004
(19-08-2004) - Malaysia may exempt shipments of crude palm oil (CPO) tooffshore refineries operated by local firms from export tax, CommoditiesMinister Datuk Peter Chin said on August 19.
26883. 19/08/2004
BUENOS AIRES (Dow Jones)--Argentina exported 284,578 metric tons ofsoyoil in June, or 31% less than the 425,438 tons exported during the samemonth in 2003, the Agriculture Secretariat reported Tuesday.Exports fell as sales to China and India plummeted in June.China, the top buyer of Argentine soyoil, imported 57,100 tons inJune, down 66% from 167,824 a year earlier.Venezuela ranked second in June, accounting for 51,547 tons comparedwith just 9,985 tons a year earlier.India was third with 46,050 tons against 115,544 the previous year.In the first six months of 2004, Argentina exported 2,041,770 tons ofsoyoil, compared with 1,995,144 during the same period a year ago.
26884. 19/08/2004
Wednesday August 18, 2004 - PETALING JAYA: The Selangor Government willdirect the Department of Environment (DOE) to check on palm oil millslocated along Sungai Selangor which are suspected of illegally dischargingeffluents into the river.
26885. 19/08/2004
8/18/04, INDIA(Oilmandi) - The import of edible oil in the third quarter(May-July) of the current oil year (November 2003 to October 2004) fell 51per cent to 880,045 tonne compared with 1,778,736 tonne in thecorresponding period last year, according to the Solvent ExtractorsAssociation of India (SEA).
26886. 19/08/2004
8/18/04 (Oilmandi) - Malaysian crude palm oil rose on Tuesday asspeculators returned to lift the market from lows caused by a drop inprices of rival Chicago soya oil. The benchmark third-month palm oilcontract on the Malaysia Derivatives Exchange, November, closed up 16ringgit at the day’s high of 1,477 ringgit ($388.68) a tonne.
26887. 19/08/2004
BALI, Indonesia (Dow Jones)--The world's largest soybean producer, theU.S., will likely harvest 2.85 billion bushels of soybeans in the 2004-05crop year, much lower than a forecast last week by the U.S. Department ofAgriculture at 2.88 billion bushes, said Emily French, vice president ofthe Washington, D.C.-based private research firm, Worldperspectives Inc.Speaking to Dow Jones Newswires on the sidelines of the third EastAsia-U.S Agricultural Co-operators' Conference, French said she expectsChina, the world's largest soybean buyer, to import only around 18 millionmetric tons this year, despite a more bullish USDA estimate of more than20 million tons."We see the Chinese demand is not as large as the USDA figure. AndChinese buying will probably have to wait until the whole trading defaultissue is cleaned up, buyers and sellers settle on new contract termsetc.," said French.Earlier in the year, several international trading houses accusedChinese buyers of trying to cancel cargos booked at higher prices,following a sharp drop in the market in the subsequent months.In the corn market, French said the new U.S. crop is likely to reach10.65 billion bushels, much smaller than the USDA's earlier projection ofa record high 10.92 billion bushels."What the USDA projected was probably the best-case scenario, while Isee more downside risk to that number," said French.But China is going to be a net corn importer as early as the firsthalf of 2005 with the country's estimated stocks-to-use ratio dipping to18%, based on USDA figures, French said.The stocks-to-use ratio represents the end-of-the-year stocks as apercentage of full-year consumption."In a mere six years, China has seen that ratio go down from 108% toan estimated 18% at the end of April 2005," French said.
26888. 18/08/2004
KUALA LUMPUR (Dow Jones)--Asian cash palm oil prices were mostlyunchanged Tuesday with trading interest in the Malaysian market stayingsluggish as participants wait for clearer price direction.Traders said market players are also waiting for news on India, wherethere has been talk of further crop damage due to weather problems andspeculation of a potential reduction in import duties."There been no trading done so far in the day. People are justwatching the (futures market) where one big player seems to want to pushit higher. As for India, there's been a lot of rumors, but so farstill no confirmation about anything," a trader said.At 0746 GMT, the benchmark November CPO contract was at 1,461 ringgit($1=MYR3.8) a metric ton, unchanged from Monday.The contract surged in the last few minutes of trading Monday.Participants prefer to wait on the sidelines Tuesday as they are wary ofanother bout of late speculative buying, traders said.Traders said a national holiday in Indonesia also sapped tradinginterest.Traders said price direction was uncertain as the market is now at aperiod when external factors such as developments in India and weatherconditions in the U.S. soybean belt have a major bearing.In recent days, there has been renewed concerns about damage toIndia's oilseed crop caused by poor weather.In July, a lack of rainfall fueled expectations the oilseed crop,which is harvested in September, would be lower this year.Rains have revived this month. However, there are now concerns of toomuch rain and flooding in several key oilseed growing regions, traderssaid.Rumors have also surfaced in recent days that the government may beplanning to reduce import duties on edible oils as part of efforts to steminflation.So far, there has been on confirmation from the government.In the cash market, CPO for August shipment was offered at 1,500ringgit ($1=MYR3.8) a ton, unchanged from Monday, delivered basis in SouthMalaysia.RBD palm olein for September shipment was offered at $430/ton,unchanged from Monday.RBD palm oil for September shipment was at $420/ton, also unchanged.
26889. 18/08/2004
14/08/04, CHINA (foodchina.com) - The current overall edible oil markethas been oversupplied and the imports of edible oil have increased greatlyin the first half-year. According to customs statistics, China imported1.3783 million tons of soyoil in the first half-year, up 173.15%, and219,500 tons of rapeseed, up 483%. China imported 1.086 million tons ofpalm oil in January-April, up 38%. Moreover, China’ crushing capacity hasincreased greatly, increasing the supply. At present, the edible oilstocks of most crushers have been sufficient while traders are trying tokeep the low stocks. Moreover, as the new standard of edible oils will beimplemented from October 1, some unqualified edible oils will be bannedfrom selling on the market. Some crushers are lowering the prices in aneffort to clean the stocks and the prices of edible oils of small packagehave the trend to drop for promotion.
26890. 18/08/2004
17/08/04, KUALA LUMPUR (Dow Jones)--The Indian government is unlikelyto revise palm oil import duties anytime this year, despite recentspeculation of a possible reduction in the duties, a senior industryofficial said Tuesday.I.R. Mehra, executive director of the Indian Vanaspati Producers'Association, said he doesn't expect the government to announce a change inimport duties for palm oil barely one month after it had unveiled itsbudget."There is going to be no change in the duty structure because thebudget is already over," he said.This year's budget was presented by India's new government in mid-Julyand featured a hike in refined palm oil duties to 75% from 70% previously.However, there have been rumors in recent days that the governmentmight cut import duties on a range of commodities, including edible oils,as part of efforts to curb rising inflation."There has been some talk that duties should be lowered on importsbecause prices are going up. But the government is not amenable to that.They feel it is OK and prices are within reasonable levels," Mehra said.Any revision in duties would only be likely in February 2005, when thegovernment is scheduled to present its next budget, he said.Rumors of a potential reduction in import duties has helped supportpalm oil prices in the past few days.At 0750 GMT, the benchmark November CPO contract was at 1,461 ringgit($1=MYR3.8) a metric ton, unchanged from Monday's close.
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