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News 27841 to News 27850 of about 28249 news within page 2785
27841. 11/10/2001
06 October 2001 (NSTP)
27842. 11/10/2001
KUALA LUMPUR, Oct 10 (Reuters) - Malaysian palm oil futures firmed acrossthe board on Wednesday due to market-friendly export figures and India'sdecision to revise downwards its base import price of palm oils.By midday, the benchmark third-month December palm oil broke majorresistance of 933 ringgit and was up 48 ringgit at 965 ringgit ($253.95) atonne. It had touched a high of 980 ringgit.Volume was heavy at 2,098 lots.Before the market opened, traders said cargo surveyor Intertek TestingServices (ITS) estimated Malaysia's palm oil exports for the first 10 daysof October at 291,103 tonnes, up from 233,970 tonnes for September 1-10.Another cargo surveyor, Societe Generale de Surveillance Malaysia Sdn Bhd(SGS), whose figures are more closely watched by market players, is due torelease its export estimates for October 1-10 after 0600 GMT on Wednesday."People are reacting to the Indian base price news. But people realisethey couldn't push prices much higher because it will cause the Indians toshun the market," said one trader in Kuala Lumpur.India, the world's largest edible oil importer, has cut the base importprice of crude palm oil to $286 a tonne from the $337 it fixed in August.The base import price of RBD palm oil had been cut to $295 a tonne from$351.The government has also cut the base price of RBD palm olein to $307 atonne from $372.India was Malaysia's main buyer in 2000, taking 2.03 million tonnes ofpalm oil.In physical palm oil, offer for October crude palm oil for the southernregions was at 900 ringgit a tonne against bids of 890. There were dealsat 890 to 900 ringgit.CPO for November for the central region was offered at 895 ringgit againstbids of 890 ringgit. Deals were done at 890 ringgit to 900 ringgit.November CPO was offered at 950 ringgit for southern region against bidsof 942.50 ringgit. Deals were reported at 940 to 955.November CPO for the central region saw offers at 945 ringgit against bidsof 942.50 ringgit. Deals were done at 940 to 945 ringgit.Among refined products, October RBD palm oil was offered at $255 a tonne,November at $260 and December at $265.Offers for October RBD olein were at $262.50, November at $267.50 andDecember at $272.50.October RBD palm stearin was offered at $250 a tonne and October palmfatty acid distillate was offered at $207.50.
27843. 11/10/2001
06 October 2001 (NSTP)
27844. 11/10/2001
06 October 2001 (NSTP)
27845. 11/10/2001
06 October 2001 (NSTP)
27846. 11/10/2001
06 October 2001 (NSTP)
27847. 09/10/2001
KUALA LUMPUR, Oct 1 (Bernama) -- The government expects that the even flowof palm oil exports to Pakistan and other consuming countries would bemaintained despite the distruption to certain shipping trades.
27848. 09/10/2001
KUALA LUMPUR, Oct 5 (Bernama) -- Malaysia should adopt the Indonesianapproach to the pricing of processed palm oil (PPO) to ensure thesustained development of its palm oil industry, said chairman of Palm OilRefiners Association of Malaysia (Poram) Toh Pang Huat on Friday.
27849. 09/10/2001
India Business Insight ,09/24/2001 - The edible oil production in thecountry during fiscal 2001-2002 is estimated at 8.21 million tonnes (7.16million tonnes during fiscal 2000-2001).Consequently, India's edible oil imports would fall to 5.15 million tonnesduring the year ending Oct 2002 from 5.5 million tonnes in the year endedOct 2001.The industry estimates India's winter-harvest oilseeds production to riseto 17 million tonnes in fiscal 2001-2002 from 15.8 million tonnes infiscal 2000-2001. Palm oil imports would be 3.15 million tonnes (3.64million tonnes). Import of soy oil, however, is likely to increase to 1.6million tonnes from 1.37 million tonnes.
27850. 09/10/2001
KUALA LUMPUR, Oct 5 (Reuters) - Partial actual data available indicatesCPO output rose 113,000 tonnes or 11.6 percent to an estimated 1.09million tonnes in September. Weather conditions were beneficial for bothcrop development and harvesting operations. Output continued to be strongin East Malaysia but appeared to be tapering off in most producing areasin Peninsular Malaysia. On a year-on-year basis, production declined twopercent. This represents a trend reversal after 12 consecutive months ofexpansion. In the 12 months to August this year, production surged 25percent to a record 13.3 million tonnes.Palm oil exports, in sharp contrast, plunged 215,000 tonnes to anestimated 665,000 tonnes in September from 880,000 tonnes in the previousmonth. They also fell considerably by 126,000 tonnes from a year earlier,a sharp turnaround from 11 consecutive months of growth since October lastyear. The dismal month-on-month performance reflected significant cutbacksin offtake by several major buyers, namely Pakistan, India and theEuropean Union (EU). Malaysia's palm oil export performance to India hasdeteriorated rapidly in recent months. Shipments to India this yearreached a high of 243,000 tonnes in March. The following six monthsshipments averaged around 143,000 tonnes a month. The estimated shipmentof 80,000 tonnes in September to India is the lowest recorded this yearand 56 percent lower than the same month last year. On an annual basis,shipments to India had contracted 31,000 tonnes in the second-quarter andaround 35,000 tonnes in the third-quarter.The outlook for the last three months is likely to be much lower than the666,000 tonnes taken in the last quarter of last year. While palm oilexporters can contend with a 1.2 million tonnes rise in Indian oilseedharvest in the next two months, they are frustrated in their efforts tocompete on an equal footing with soybean oil (SBO) imports which hadsurged sharply to 312,000 tonnes in August from an average of 130,000tonnes a month in the preceding four months and 126,000 tonnes a yearearlier. India created a tough barrier for palm oil in March when itraised import duties steeply on CPO to 75 percent and RBD Olein to 92.4percent but favoured SBO with much lower duties of 45 percent for crudeand 50.8 percent for refined. This barrier was further raised on August 3when it introduced "tariff values" for the computation of import duties.This apply only to palm oil and not other oils which continue to payduties on the basis of "invoice or transected value". Soon afterannouncing tariff values of $335 for CPO, $372 for RBD Olein and $351 forRBD palm oil, officials from the Central Board of Excise and Customsclarified that the values were determined on the basis of averageinternational price in recent weeks and that they would be revisedaccordingly should there be any marked or significant changes in price.From what we can establish, the tariff values on August 3 were based onprice during July 16-27. Nearby price for CPO (CIF Rotterdam) and RBFD Oln(FOB Peninsular Malaysia) hit a high of $390 and $380 respectively inearly August. Since then they had fallen sharply by 30-35 percent to aslow as $272.5 and $245 respectively this week. We tried to determine thetariff values on the basis of sellers price during September 17-28 andcame out with $268 for CPO and $297 for RBD Oln. They representsignificant declines of $67 (20 percent) and $76 (20 percent) respectivelyfrom the August 3 values. These latest values would effectively lower theduties payable on CPO and RBD Oln by some $50 and $69 per tonrespectively. By ignoring the market changes in price and maintaining theAugust 3 values, the Indian government has effectively raised importduties on CPO and RBD Oln to 94 percent and 116 percent respetively. Suchintransigence or utter disregard on the part of the Indian authorities canbe construed as the adoption of minimum customes values targeted solely atpalm oil to make it near impossible for its importantion. India is amajor factor in the contraction of Malaysia's palm oil exports and theresulting jump in palm oil stocks form 878,000 tonnes at end August to1.17 million tonnes at end September and possibly above 1.3 million tonnesat the end of this month.
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