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News 26971 to News 26980 of about 27389 news within page 2698
26971. 12/10/2001
   
Oleh Mohd Saufi Awang (saufi@mpob.gov.my)06 October 2001 (NSTP)
26972. 12/10/2001
   
06 October 2001 (NSTP)
26973. 12/10/2001
   
KUALA LUMPUR, Oct 11 (Reuters) - The following are factors likely toaffect the performance of Malaysian palm oil futures on Thursday.* Chicago Board of Trade soybean and soymeal futures closed lowerWednesday on technical selling and reports of a pickup in the U.S. harvestpace, while soyoil closed mixed, following this week's rally after Indiacut its base price of palm oils.CBOT soyoil futures closed up 0.05 cent per lb to down 0.07 cent per lb,with October up 0.05 cent at 15.32 cents and December unchanged at 15.49cents.* Technical analysts said short term outlook was positive in Malaysia'scrude palm oil futures, but the market has yet to break free from thebears."The market needs to break 982 ringgit in order to go up to 1,000ringgit," said one analyst in Kuala Lumpur."It doesn't mean the classic bear is over yet. Based on the currenttechnical indicators, the bearish trend is intact," he added.The analyst pegged support at 944 ringgit and major resistance at 982ringgit. Next resistance was seen at 1,010 ringgit.* In India, traders said that local importers are likely to increase palmoil buying in the next few months following the government's cut of baseimport prices.The reduction, announced on Tuesday, has resulted in a fall of 10 to 20percent in the effective import levies on palm oils, making imports moreattractive.India, the world's largest buyer of edible oils, is now likely to buy morethan the earlier estimated 400,000 to 450,000 tonnes in October, saidtraders.In Malaysia, palm oil futures ended sharply higher on Wednesday due tomarket-friendly export figures and India's move to cut base prices of palmoils.The benchmark third-month December palm oil contract was up 56 ringgit at973 ringgit ($256.05) a tonne after trading as high as 980 ringgit,slightly below key resistance of 986 ringgit.
26974. 12/10/2001
   
SINGAPORE, Oct 11 (Reuters) - Pakistan has urged insurance firms not tolevy war risk surcharges on cargoes as shipowners are increasinglyreluctant to charter vessels since the U.S. launched retaliatory strikeson Afghanistan, shipping industry officials said on Thursday.Many industry officials see India, Pakistan and Bangladesh as a "risktriangle" as the Taliban faced a fourth consecutive day of militarystrikes for sheltering Osama bin Laden, the prime suspect behind theSeptember 11 airplane attacks on the U.S."The reluctance of shipowners have increased after the retaliatory strikesbegan on Afghanistan," said one Karachi-based shipping industry official."More and more owners are insisting on higher war risk insurance cover."Shipbrokers in Karachi added that Pakistani government officials werecurrently in talks with some insurance firms, and were offering guaranteesfor their vessels."The government is trying its best to issue indemnity to insurancecompanies for not levying a war risk surcharge," said the shippingindustry official. "All efforts are being made. The government is tellingthem that their ships will be safe."Last week, three international shipping lines, Korean lines HyundaiMerchant Marine Co Ltd and Wanhai Line, together with Hong Kong-basedOrient Overseas Container Lines (OOCL) suspended operations to assess warrisk insurance charges.Shipping officials said on Wednesday they had decided to resume Pakistanoperations.Pakistani shipbrokers said Karachi port officials had recently called ameeting with trade officials to discuss the crisis arising out of themilitary offensive in its neighbour."We told them (port authorities) that we are facing this problem. They aretrying to issue a notice in newspapers that it is safe to come here," saidone shipbroker, adding that one U.S. ship coming to Pakistan was alsooffered escort.One Indian shipbroker added that shipowners were extremely cautious. "Nocontract cancellation has taken place but the impact is somewhat felt.Shipment costs to the Middle East have somewhat gone up."
26975. 12/10/2001
   
11 October 2001 ( Business Times) - The prices of palm oil and latex hasdropped since the Sept 11 attacks on America, causing further hardship tosmallholders.
26976. 12/10/2001
   
06 October 2001 (NSTP)
26977. 12/10/2001
   
06 October 2001 (NSTP)
26978. 11/10/2001
   
06 October 2001 (NSTP)
26979. 11/10/2001
   
SHANGHAI, Oct 10 (Reuters) - China will delay by two years to 2002 itsschedule for tariff cuts on soybean oil agreed in deals on its WTOaccession due to delays in entering the global trade group, trade sourcessaid on Wednesday.It also plans to allow larger soyoil import quotas by the end of the fifthyear of the tariff rate quota plan, under which it reduces tariffs whileraising quotas each year until they are eliminated in 2006, the sourcescited a schedule from the U.S. Trade Representative's Office as saying.According to the USTR, import quotas for soybean oil under thetariff-rate-quota system would total 3.587 million tonnes by 2005, higherthan the 3.261 million tonnes agreed in the Sino-U.S. WTO deal signed inNovember 1999, the sources said.The tariff cuts were originally scheduled to start in 2000 and run through2005, but final multilateral agreements on China's entry to the WorldTrade Organisation were agreed only in September
26980. 11/10/2001
   
Thursday, October 11, 2001(The Star) - LANGKAWI: Malaysia has to findsafer routes to ship its palm oil to Pakistan and the Gulf statesfollowing the attack on Afghanistan.Primary Industries Minister Datuk Seri Dr Lim Keng Yaik said Malaysia hadto look into the option of getting the oil through the war zone areas andalso study what the insurance industry termed as war risk areas.He said the strikes had caused an increase in insurance costs.“We have to do a lot of readjustments and find other routes to make surethat the oil not only goes to Pakistan and beyond but also to the otherGulf states around it which are big consumers of palm oil,’’ Dr Lim saidafter the Cabinet meeting here yesterday.
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ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
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