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News 27041 to News 27050 of about 27228 news within page 2705
27041. 17/07/2001
Alternative fuels cited to reduce grain oversupply in USAUSA, 7/16/2001 (Western Farm Press) - The strength of the American dollarrepresents a "permanent handicap" in exporting American commodities;therefore, the only new market left to develop for buying what Americaproduces is the domestic one.That was the consensus of California producers testifying before the HouseAgriculture Subcommittee on General Farm Commodities and Risk Managementin Fresno, Calif., recently.How to expand domestic markets elicited several suggestions, including onefrom prominent Five Points, Calif., producer John Diener, who farmsprocessing tomatoes, iceberg lettuce, almonds, grapes cotton and wheat onthe west side of the San Joaquin Valley.Loan rates and acreage limitation programs have failed to bring suppliesand demand into balance, he noted.U.S. commodity loan rates, he said, have proven to be price thresholds atwhich competing countries often add production to their base, making itmore difficult for U.S. commodity prices to rise above loan rates.Alternative fuel sources Diener said could be a reliable mechanism toreduce oversupplies of corn, wheat and soybeans in the U.S. He recommendsselling surplus commodities to the government, converting them toalternative fuels to be sold on the open market.Diener recommended investing more research into making alternative fuelseven more cost effective.Even though he suggests more research is needed, "current alternativefuels make sense and can be competitive against conventional energysources."Burning corn instead of natural gas at 50 cents per therm translates into$2.50 per bushel corn. Ethanol needs a subsidy only as long as crude oilprices are above $22 per barrel.One of the biggest obstacles is increasing production of ethanol or otheralternative fuels.Diener said many potential alternative fuel manufacturing sites exist inrural America in the form of abandoned sugar mills. These sites, hecontends, often have 50 percent of the capital costs of an alternativefuel producing facility in place. Federal rural developing funds could beused to convert these plants.Diener suggests that the CCC purchase five to 10 percent of surpluscommodity stocks per month when prices are below loan rates and convertthese surpluses into alternative fuels sold monthly on a bid basis torefiners needing it to blend into gasoline to meet federal clear airemission standards.Diener said American agriculture is at its "breaking point." One way tosurvive is to invest in the research to develop economically competitivealternative fuels that consume excess agricultural commodities and convertthat surplus into much-needed energy.
27042. 17/07/2001
Government extends plan for oil palm replantingTuesday, July 17, 2001(The Star)- THE government has extended the closingdate for the oil palm replanting scheme 2001 by a month to July 31 toencourage wider participation from private oil palm plantations andsmallholders, Deputy Primary Industries Minister Datuk Anifah Aman said."We are confident of achieving the target of replanting 200,000ha of oldoil palm plantation as we have received applications to replant 150,045haas at July 10," he said in a press conference at the ministry yesterday.The scheme was launched on March 8.Under the scheme, which was given an allocation of RM200mil by theGovernment, an incentive of RM1,000 would be given for each hectare of oilpalm trees above 25 years which were replanted with new high-yieldingclones.An incentive of RM1,100 per ha would be given if the oil palm plantationwas replanted with rubber trees.Anifah said the replanting scheme would reduce the country's crude palmoil (CPO) production by 600,000 tonnes and that CPO price last year haddipped by 29.9% because of oversupply in the world market."We are confident that the removal of excess supply will help improve andstabilise the price of CPO in the world market," he said.He also said that the world demand for CPO would have increasedsignificantly by the time the replanted plantations mature in three orfour years."We expect the higher demand due to population growth, tapping of newmarkets and discovery of new uses for CPO," he said.Anifah said 57% of the applications for the replanting scheme came fromprivate oil palm plantations, 29% from government agencies operationplantations and 14% from individual smallholders.
27043. 17/07/2001
Indonesia increases crude palm oil exports to ChinaJAKARTA, July 10 Asia Pulse - Indonesia is planning to increase its shareof the crude palm oil market in China to 45 per cent from 30 per cent bythe end of this year, an official said.Rosediana Soeharto, an expert staff of the Industry and Trade Minister,said China imported 1.4 million tons of CPO last year.In the first half of this year, China imported around 700,000 tons of thatcommodity. Malaysia accounted for 65 per cent and Indoensia for 30 percent of the supply to China.Rosediana said the industry and trade ministry will send a team to promoteIndonesia's CPO exports to China.She said in cooperation with Malaysia, the world's largest producer ofCPO, Indonesia plans to launch promotion campaign to increase CPO marketin the United States.Malaysia already launched world wide promotion campaigns including in theUnited States last month.Rosediana said CPO is not popular in the United States as the U.S.government seeks to restrict CPO import. The United States prefers soybeanoil.Based on data from the Indonesian cooking oil association, Indonesiaexported 680,000 tons of CPO in the first 5 months of this year. Lastyear, Indonesia's CPO exports totaled 1.9 million tons, up from 723,000tons in 1999.
27044. 17/07/2001
U.S. Sunflower Briefs: Crop doing well, Pringles praises NuSun oilUSA, 7/16/2001(Soyatech)CROP CONDITIONS: Soil moisture is becoming a common topic in many areas ofthe sunflower producing region. Parts of Kansas and Colorado haveexperienced exceptionally hot temperatures requiring a high water use. Thesunflower crop is generally making good progress with the warmtemperatures and plant stage varies from emergence to bloom. Pest problemsare minimal at this time. The Thistle caterpillar can be found in somesunflower fields and treatment is advised when defoliation reaches 25percent. Stem weevils are abundant in parts of the High Plains.
27045. 16/07/2001
Austral strongly advocates ePOMEXMonday, July 16, 2001(The Star) - AUSTRAL Enterprises Bhd, one of the topnine major plantation companies in Malaysia, strongly advocates theformation of the Malaysian Palm Oil Exchange (ePOMEX), the world's firstelectronic exchange for trading oil palm products for physical delivery.Austral group managing director Dr Radzuan Abdul Rahman said: "We aredefinitely among the earliest shareholders and a firm believer in theexchange."Austral has taken up a 5% stake in Ecomex Palm Oil (M) Sdn Bhd (ePOM), thecompany which undertakes the implementation and operation of ePOMEX.Apart from the two ePOM anchor shareholders--Heitech Padu Bhd and NewZealand-based Global Ecomex Ltd--Austral is also optimistic that ePOMEXwill received strong backing from producers and positive support from thegovernment."This timely and solid electronic exchange will pave way for a moreefficient and aggressive market," Radzuan told Star Business in KualaLumpur.Presently, Heitech Padu has an 18% stake in ePOM, followed by GlobalEcomex (19%), IOI Corp (3.9%), Felda (10%), Austral (5%) and otherindividuals (13%)."We want ePOMEX to attract a well-balanced mix representing major playersin the industry, namely the producers, refiners, millers, oleochemicalcompanies and traders."To transform ePOMEX into an almost perfect electronic exchange, we need afull representation of shareholders and seatholders from theseindustries," added Radzuan. (One has to be a seatholder in order to tradeon ePOMEX.)Commenting on Austral's involvement in ePOMEX, he said the company may beviewed as a "seller" in the local market since Austral did not have arefining capability at this time.Personally, he views that sellers would benefit from the level playingfield available in an electronic marketplace."Perhaps more importantly, Austral's small but soon-to-be lucrativeinvestment in ePOMEX is our way of encouraging the development of thelocal palm oil industry, a vital engine for the economic growth."At the same time, Radzuan said, "it is also crucial for large independentrefiners to actively take up a role in ePOMEX as the exchange also rideson other opportunities as well."He believed that ePomex could already have a smooth first year ofoperation with Felda, the single largest producer of crude palm oil, beingone of ePOMEX shareholders and "perhaps getting at least five plantationgroups, refiners and traders."The top nine plantation companies in the country are IOI Corp, Sime Darby,Tradewinds, Golden Hope, Boustead, KL Kepong, Austral, Perlis PlantationsBhd and Kumpulan Guthrie.Meanwhile, ePOM chief executive officer Akit Sebli said: "ePOMEX expectsto trade between 4% and 5% of the total CPO production in Malaysia orabout 550,000 tonnes in the first year."At the same time, ePOMEX is also targeting to trade up to 25% of the totalCPO production over the next four years.The electronic exchange is slated to be launched in late August, beginningwith the physical trading of the CPO contract.Akit also mentioned that as immediately as convenient, ePOMEX planned tooffer its trading services to the overseas players as well.Asked on the current drawbacks of the traditional system of trading palmoil products, Radzuan said "market reach is dependent upon and largelydetermined by prior experiences with buyers and sellers over a longperiod."Traditionally, trading was often limited to the personal contacts ofmarketing personnel, he said, adding that this mechanism posed physicaldifficulties of contacting and negotiating with a significant segment ofthe market and was often restrictive.Radzuan said reliance on the futures market as a pricing benchmark alsoconfined trading within the Malaysia Derivatives Exchange's hours.The 24-hour trading on ePOMEX, however, brings together both buyers andsellers representing millers, refiners, palm kernel crushers, oleochemicalcompanies and traders in a single electronic marketplace.Citing on the trading application, he said buyers and sellers couldeffectively utilised the tools they needed to conduct either acomprehensive auction or a negotiated trade for their offers to sell orrequests to buy.As the exchange grows, other services ancillary to the actual trade willbe incorporated to further enhance the efficiency of the exchange.
27046. 16/07/2001
CPO may be in for downward correctionMonday, July 16, 2001(The Star)- CRUDE PALM OIL (CPO) futures prices onthe Malaysia Derivatives Exchange (MDEX) skyrocketed last week as tradersscrambled in panic buying and forced prices briefly to the RM1,200 pertonne level the highest seen since April 25 last year.China's decision on palm oil import quota for the rest of this year at700,000 tonnes and sharply higher soyoil prices sparked the bullish rallyand caused many local refiners and speculative shorts to square-offearlier positions.The market has anticipated and reacted to the positive news from China,and the big question confronting traders this week is, would the bullishrally continue or would the market decide to sell-on-facts now that theChina factor has been discounted?
27047. 16/07/2001
Foreign labour in oil palm estates a necessity: MPOASaturday, July 14, 2001(The Star)- THE use of foreign labour in oil palmestates is no more one of choice but one of necessity, according to theMalaysian Palm Oil Association (MPOA).Thus, the association wants the Budget 2002 to address the real costs ofusing foreign labour.MPOA said this in its memorandum for the Budget 2002 dialogue.The MPOA proposals also covered three other areas--the palm oil industryspecifically, the plantation industry in general and taxation.MPOA said that although the matters it submitted for consideration werelargely a restatement and reiteration of its stand in the previous year,the overall picture had now come into more clear focus."There is now more light than heat on the various issues affecting theindustry. It would be useful to relook at some of the pertinent issuesagain in the clear light of the latest developments," the associationsaid."Malaysia's economy used to be largely agrarian. In recent yearsagriculture has taken a back seat with the nation successfully pursuing anindustrialisation policy," it said. "The plantation sector however remainsa major contributor to the gross domestic product, but its share isdwindling vis-a-vis manufacturing."
27048. 16/07/2001
Palm oil prices reach highest levels in almost a year
27049. 14/07/2001
27050. 14/07/2001
Danaharta Appoints Special Administrators Of Soctek And SEOKUALA LUMPUR, July 10 (Bernama) -- Pengurusan Danaharta Nasional Bhdappointed Yeo Eng Seng, Adam Primus Varghese Abdullah and Wong Lai Wah ofErnst & Young as special administrators of Soctek Sdn Bhd and itswholly-owned subsidiary, Soctek Edible Oils Sdn Bhd (SEO) effective today.
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Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
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