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News 28041 to News 28050 of about 28626 news within page 2805
28041. 14/01/2002
Date Posted: 1/11/2002The American Soybean Association (ASA) was disturbed to learn from a newsarticle that it was working with the Malaysian Palm Oil Promotion Council(MPOPC) to develop a branded margarine product since there is no suchjoint effort.ASA Chief Executive Officer Stephen Censky said, "The ASA is not engagedin any joint collaborative efforts with the Malaysian Palm Oil PromotionCouncil, and is not involved in any efforts to develop a soy-palm blendedproduct of any kind."The news article, published in a Jan. 4, 2002, Business Times (Malaysia)via NewsEdge Corporation article, was based on an interview with MPOPCChief Executive Officer Datuk Haron Siraj.When contacted this week by ASA Southeast Asia Regional Director JohnLindblom, Haron said he recognized the article was inaccurate and he saidthat the reporter had misinterpreted what he said. Haron told Lindblomthat the margarine product was developed by a U.S. company with input fromMPOPC. Haron said he had already contacted the newspaper about theinaccuracy.ASA is a membership organization that represents 25,000 U.S. soybeanproducers.
28042. 14/01/2002
Chemical Business NewsBase: Chemical Market Reporter via NewsEdgeCorporation : 12/17/2001The supply/demand balance for glycerine is improving following a reductionin production of fatty chemicals and biodiesel. Glycerine is a co-productof biodiesel. Prices are rising, due to the tightening supply situation,particularly in Asia and Europe. There is strong demand for high end useof glycerine in food, cosmetics and pharmaceuticals. This balances fallingdemand for industrial applications such as alkyd resins and polyetherpolyols which are down 1%/y and 1.5%/y respectively. The glycerine marketis growing by 1.9%/ y. US demand in 2000 was 537 M pounds (+ 20% on 1999).Procter and Gamble is expanding its glycerine refining capacity.
28043. 14/01/2002
KUALA LUMPUR, Jan 11 (Bernama) -- Sri Lanka Rubber Research Insititutedirector Dr L.M.K Tillekeratne says his comments published early this yearthat replanting rubber estates with oil palm without serious scientificstudy could damage the environment was only applicable to the Sri Lankasituation.
28044. 11/01/2002
KUALA LUMPUR, Jan 10 (Reuters) - Malaysia's palm oil futures were firmeron Thursday on market-friendly export figures and traders said the outlookwas bullish due to steady overseas demand and tightness in Indonesia.Cargo surveyor Intertek Testing Services (ITS) estimated Malaysia's palmoil exports for January 1-10 at 287,626 tonnes, down from 325,389 tonnesin December 1-10."The market has expected the figure to reach 240,000-250,000 tonnes.Instead, exports reached 287,000 tonnes which is above expectations," saidone trader in Malaysia."This is partly due to the problem in Indonesia," said the trader,referring to the world's second largest palm oil producer and Malaysia'smain rival.Another cargo surveyor, Societe Generale de Surveillance Malaysia Sdn Bhd(SGS), whose figures are more closely watched by the market, is due torelease its export estimates for the first 10 days of January after 0600GMT on Thursday.At midday, the benchmark third-month March futures was up seven ringgitat 1,238 ringgit ($325.79) a tonne, after trading as high as 1,247. Volumewas moderate at 1,421 lots.Indonesian authorities said on Wednesday they expected traffic in Belawanport in North Sumatra to return to normal in four or five days as effortsintensify to remove a sunken dredger and clear the port entrance.Some traders said Belawan was digging a new channel, but it would not beable to accommodate big vessels and thus could further affect shipments.Traders said refiners in Indonesia were struggling to meet demand becauseof the tight supplies, adding the road linking Belawan and another mainport, Dumai, was still flooded, disrupting transportation."Vessels have to wait for up to six days in Dumai because of the tightsupply. There's not much crude palm oil available," said one trader.Traders said the Malaysian market could see more palm oil demand fromChina ahead of March, when new rules on genetically modified organism(GMO) products take effect.China said overseas firms exporting GMO products to China must apply forcertificates from the ministry stating that the goods are harmless tohumans, animals or the environment.Beijing initially required government approval for all production, saleand imports of GMO foods, but it failed to issue clear details onimplementation.Confusion over the rules brought new orders of U.S cargoes of soybeans --70 percent of which are bio-engineered -- to a virtual halt as buyersworried cargoes might not be approved.China also crushes soybeans into soyoil.Traders in Malaysia said India's palm oil imports from Malaysia andIndonesia were expected to be steady at around 300,000 tonnes in January.Pakistan, another main buyer, had already booked 120,000 tonnes of palmoil from Malaysia so far this month, they said.In the physical palm oil market, crude palm oil for January in thesouthern and central regions was offered at 1,230 ringgit a tonne againstbids of 1,225.Trade was reported at 1,225 to 1,230 for central.The February contract for south and central was offered at 1,240 ringgitand bid at 1,235. There were no deals.Among refined palm oil products, RBD palm oil for January was offered at$335 a tonne, February at $340, March at $342.50 and April/May/June at$345.RBD palm olein for January saw offers at $350, February at $355, March at$357.50 and April/May/June at $360.RBD stearin for January was offered at $265, February at $272.50 and Marchat $272.50.Palm fatty acid distillates for January and February saw offers at $260.
28045. 10/01/2002
KUALA LUMPUR, Jan 9 (Reuters) - Egypt's state Holding Company for FoodIndustries (HCFI) is seeking to buy at least 10,000 tonnes of MalaysianRBD palm oil and 15,000 tonnes of palm stearin,both for February shipment,traders said on Wednesday.They said HCFI has an option to double the quantity.February RBD palm oil was offered at $345 a tonne FOB in Malaysia at theclose on Tuesday. February palm stearin was offered at $270 a tonne.
28046. 10/01/2002
Kuala Lumpur, 10 January, 2002 (Business Times) - GOLDEN Hope PlantationBhd is poised to make its mark in the world edible oils market with thesuccessful purchase of Unilever Nederland BV’s 60 million euro (1 euro =RM3.43) palm oil refinery in the Netherlands.Industry observers say the move is an important milestone in Malaysia’spalm oil sector, which will hopefully spur other plantation companies tofollow suit in making downstream investments.“With the purchase, Golden Hope has given a serious challenge to otherplantation companies that are serious in making their mark overseas,” ananalyst told Business Times in Kuala Lumpur yesterday.British-Dutch food and consumer products giant Unilever announcedyesterday the sale of its Unimills refinery business to Golden Hope forapproximately 60 million euro.Unilever press officer Seline Luysterburg said in a statement that thesale of the refinery, located at Zwijndrecht with 210 employees, is partof Unilever’s strategy to focus on its core businesses.The announcement brings Unilever’s intention to sell Unimills, which wasannounced on June 27 2000, to an end.It also wrapped up negotiations with Golden Hope which started in November2001.“The purchase by Golden Hope is in line with Unilever’s existing strategyto expand and diversify in order to achieve larger market share and growthand to support its food-based industry globally,” Luysterburg concluded.Sources said Golden Hope group chief executive officer Datuk Abdul WahabMaskan is currently in the Netherlands overseeing matters pertaining tothe deal, and is only expected to return to Malaysia next week.Meanwhile, a plantation analyst said Golden Hope’s acquisition will turnout to be a worthwhile investment in the future.“It may not bring in returns right away, but just making a presence inEurope is a huge feather in the cap for the company,” she said.She added that the refinery is located near the vicinity of the world’sfourth-biggest port, Rotterdam, which is a major loading and transit pointfor the world’s major edible oils which include palm oil, soyabean oil,rapeseed oil and groundnut oil, before being distributed to other parts ofEurope.She said, subsequently, with the right management and good work practicesadopted at the plant, Golden Hope can hope to diversify in the processingof other edible oils and make a mark in other European countries such asPoland and Denmark.Another analyst commented that Europe itself is a hotbed of establishedrefineries involved in the making of margerine and shortening.“The move is long overdue actually, because the industry has longadvocated companies to diversify and invest downstream to grab a biggershare of the world edible oil market, of which palm oil holds at 60 percent,” he said.The Unimills refinery’s annual sales to third partiesin central andnorthwestern Europe alone is worth some 130 million euro. The refinary hasan annual capacity to process 450,000 tonnes of palm kernel, coconut,soyabean, rapeseed and sunflower oil.Unilever, with products such as Lipton tea, Sunsilk shampoo, Breeze, Dovesoap, Walls ice-cream and Calvin Klein fragrances, plans to focus on 400leading brands starting 2004 from 1,200 brands previously.Unilever, with operations in 40 countries, had announced a sweepingreorganisation plan in February 2000 to boost sales growth of between 5per cent and 8 per cent and achieve profit margins of between 16 per centand 17 per cent by 2004.Last year, Unilever recorded sales of US$44.81 billion (US$1 = RM3.80) andan income of US$1.04 billion.In Malaysia, Unilever produces and markets a number of household productssuch as detergents, margarine and confectionaries with refined palm oil,palm kernel and oleo-chemicals as its base material.It also owns several oil palm estates in Johor, Sabah and Sarawak withwholly-owned subsidiary Pamol Plantations Sdn Bhd managing 24,291ha.Golden Hope, meanwhile, also has three other edible oil refineryoperations overseas — in Vietnam, China and Bangladesh.As a comparison, other plantation companies such as United Plantations Bhdhas palm oil operations in Mexico, the US and the UK while Sime Darby Bhdowns a refinery in Egypt and the Kwok Group has a refinery in China.Golden Hope, in its last financial year ended June 30 2001, recorded apre-tax profit of RM78 million on the back of a RM1.3 billion turnover.Multex Global Estimates, which compiles forecasts from 17 research houses,projects Golden Hope to make a net profit of RM139 million on the back ofa RM1.58 billion turnover with earning per share of RM13.72 .At the Kuala Lumpur Stock Exchange, Golden Hope shares closed 4 sen lowerat RM3.50 with 73,000 shares changing hands.
28047. 10/01/2002
KUALA LUMPUR, Jan 9 (Bernama) -- Claims by Sri Lanka Rubber ResearchInstitute director, Dr L.M.K Tillekeratne that oil palm is less versatilethan rubber is baseless and shows his ignorance of oil palm's versatility.
28048. 07/01/2002
Kuala Lumpur, 3 January, 2002 - CHINA is announcing palm oil import quotaearly this year, with the first batch of 500,000 tonnes expected to beannounced next week.Traders said China is pressured to buy more palm oil fast by its WorldTrade Organisation’s (WTO) commitments and higher demands triggered by theLunar Year celebrations next month.Traders said the issuance of the quota to both its state-run importers andthe private sector is imminent as currently palm oil and soyabean oil arethe only available edible oils in the world market.China imposed a quota of 1.4 million tonnes last year which was increasedto 2.4 million tonnes this year in line with its entry as the 143rd memberof the WTO last month.Other edible oils include rapeseed, sunflower, sesame, groundnut andcotton oil.“The quota is expected to be announced in the first week of Januarybecause China has been consistently importing 200,000 tonnes of Malaysia’spalm oil for the past several months,” a trader told Business Times inKuala Lumpur.“Coupled with fantastic exports to other traditional buyers such as India,Pakistan and the European Union, and low seasonal output for the next fewmonths, this development augurs well for Malaysia,” the trader said.He added that talks by several plantation companies of being hit by theon-going floods also contribute to the already tightening supply.Independent cargo surveyor Societe Generale de Surveillance (SGS) Sdn Bhdhad estimated December exports to drop to 1.04 million tonnes, comparedwith 1.05 million tonnes in November.According to SGS, the bulk of exports went to China at 207,784 tonnes,India (202,175 tonnes), Pakistan (88,450 tonnes) and the European Union(195,463 tonnes).The Malaysian Palm Oil Board, Malaysia’s palm oil regulator, is expectedto release official December palm oil production, export and stockpilefigures on January 12.“Even though crude palm oil (CPO) exports recorded a slight drop,nevertheless it is still encouraging in view of the current low productionmonths.“As long as exports are maintained at between 950,000 tonnes and onemillion tonnes until March, it is good news for Malaysia,” said thetrader. He added that the CPO industry’s outlook also appears good forMalaysia in which production is expected to decline by 10 per cent in themonths of January, February and March, respectively, before it picks upagain in April.“And Malaysia’s rival, Indonesia, is also expected to be out of therunning in pursuing the quota as it battles low seasonal output andincreasing domestic demand,” the trader said.For the last year’s 1.4 million-tonne quota, traders said up till June,some 70 per cent or 700,000 tonnes went to Malaysia, with the balancegoing to Indonesia.Traders and industry observers estimate that Malaysia stand to rake in atleast 70 per cent or 1.68 million tonnes of the 2.4 million quotaallocated this year.“And China is expected to issue its second quota for the year of another500,000 tonnes in March,” said another trader.However, he said China would need to study the declining production ofrapeseed and sunflower oils in Argentina and Brazil before issuing thequota.“If the situation there remains tight, then perhaps the quota might beincreased,” he said.China is Malaysia’s third biggest CPO buyer of which it bought 1.02million tonnes last year. India was the largest buyer at 2.03 milliontonnes followed by the European Union at 1.03 million tonnes.Traders also dismissed the possibility of Malaysia’s palm oil exports toIndia and Pakistan being disrupted as the threat of war between the twocountries escalates.“I don’t think war will break out. In this case, the US will tell India tocool it because the US still needs Pakistan as its closest ally to huntdown Osama bin Laden, its number one suspect of the terrorist attacks onNew York and Washington,” the trader said.
28049. 07/01/2002
SETIU, Wednesday, January 2, 2002 (The Star): Some 100 lorry drivers andFelda settlers protested in front of a palm oil factory in Chalok herewhen they claimed that the management refused to accept their commodities.The protesters, from Felda Tenang, Felda Selasih, Felda Chalok and FeldaChalok Barat, blocked the entrance of Felda Palm Industries Sdn Bhd withtheir lorries during the incident on Monday.But by 11am, the lorries were removed from the entrance when the policewere called in.One of the lorry drivers, Mohamad Lazim Md Daud, 42, a settler from FeldaSelasih said he was disappointed when the factory management refused toaccept their oil palm as they claimed that the fruits had gone bad.Mohamad said he arrived at the factory at about 5.30am and wasdisappointed that the management rejected the fruits even before checkingthem, adding that there was a three-day delay in transporting thecommodities because of the flood.Felda Selasih settler Hasbullah Mamat, 35, said the management should beconsiderate before rejecting the commodities.Factory manager Mustapha Abd Latif said the problem was a misunderstandingbetween the lorry drivers and the management.The management had told the drivers to wait for the plantation officer toverify their commodities before they were graded but they misunderstood itas the management rejecting their commodities, he said.The matter was resolved at about noon after Mustapha met Setiu deputy OCPDASP Mohamed Taib, the lorry drivers and settlers.
28050. 07/01/2002
Kuala Lumpur, 4 January, 2002 (Business Times) - AMERICANS are switchingtheir vegetable oil consumption from the traditional soyabean oil to palmoil.For the first 11 months of 2001, Malaysian palm oil exports to the US hadincreased by 97 per cent to 191,245 tonnes compared with 93,936 tonnes forsame period a year ago.Malaysian Palm Oil Promotion Council (MPOPC) chief executive officer DatukHaron Siraj said the encouraging statistics have prompted the council totap further into the US consumer market.“Even though Americans generally prefer to consume their own soyabean oil,palm oil exports to the US are increasing,” he told Business Times in aninterview.Haron said efforts to promote palm oil will continue to be carried inseveral states in the US where the consumers there are morehealth-conscious.California, which is the world’s sixth largest economy, is one of the USstates that the council sees greater potential for Malaysian palm oil, headded.“In the US, we take a difference approach in our promotional efforts. Dueto the affluence of the people there, MPOPC focuses more on creatingpublic awareness on palm oil health benefits via seminars andexhibitions," he said.In comparison with India, Pakistan and China, the US is not a traditionalmarket for Malaysian palm oil but going by its huge consumer market, it isa country with great potential for palm oil exports from Malaysia.Haron said the MPOPC will also intensify efforts to enhance the commodity’s potential overseas.“We will go all out to augment the awareness of palm oil’s health andnutritional values and tap new markets.“The sector had seen interesting developments in certain countries lastyear where there had been a marked increase in exports of our palm oilthere.”In Iran for example, from January to August last year palm oil exports hadincreased 2,000 per cent to 60,000 tonnes compared with a mere 3,000tonnes for the corresponding period the year before.Likewise in Vietnam, from January to November, palm oil exports hadincreased 197 per cent to 191,245 tonnes compared with 96,936 tonnes.Other countries where we have recorded higher palm oil exports last yearwere Morocco, Egypt and the Association of South-East Asian Nations membercountries such as Myanmar, Cambodia and Laos.Haron also described MPOPC’s joint collaboration with the AmericanSoyabean Association (ASA) as a great milestone in fostering a closercollaboration with the edible oil rival.“ASA and MPOPC have jointly developed a margarine by the brand name ‘SmartBalance’ with has combined ingredient of both edible oils, and the productis already widely distributed in the US market,” he said.“Now, with more emphasis in the joint collaborative efforts between theGovernment and the private sector, we will continue to knock on more doorsand tap new markets,” said the former secretary general of the PrimaryIndustries Ministry.Haron said the council spends between RM20 million and RM22 millionannually on its promotional efforts, depending on the cess collected onevery tonne of palm oil produced in the country from both the privatesector and state-run plantation agencies.The cess is allocated to the council by its parent agency, the MalaysianPalm Oil Board (MPOB), which is the regulator and watchdog of the country’s palm oil sector.To date, the MPOPC has nine offices or representatives. They are locatedin Austria, the US, South Africa, Brazil, China, Bangladesh, India,Pakistan and Egypt. Meanwhile, thee MPOB has offices in the UK, Iran, HongKong and Egypt.Haron said the MPOPC has six regional committees which are responsible forvarious marketing and promotional activities in their respective regions.The MPOPC also participates in various trade missions and organisesseminars and exhibitions with agencies such as Malaysia External TradeDevelopment Corp, International Trade and Industry Ministry andassociations from the private sector.Haron stressed that the types of promotional efforts, however, vary fromone country to another as each country has to be approached in its ownunique way.“Promotions in Bangladesh, for example, go for mass appeal. We try toreach the masses there by bringing our own chefs to hold cookingdemonstrations there,” Haron said.The MPOPC has also with local companies in Bangladesh, produced a blendedcooking oil of palm oil and soyabean oil for the local market there.Efforts are also taken to promote the product to food manufacturers,bakeries and confectioneries there.Haron admitted there are quiet markets which have not registered a jump inMalaysian palm oil exports.He said that in countries such as Japan and South Korea, the peopletraditionally consume their own agricultural products and as such it isdifficult for Malaysian palm oil to make a big impact here.“Palm oil awareness will grow as consumers start to discover the risks ofconsuming oils derived from genetically modified products, and animal fatssuch as tallow from cattle.“Let’s not forget that there is an enormous potential for palm oil use asbiofuel and biomass which is still largely untapped,” Haron added.Malaysia is the world’s biggest producer of palm oil. Last year, thecountry exported 10.38 million tonnes of palm oil worth RM12.7 billion to140 countries. Its pam oil exports in 1996 was 8.32 million tonnes worthRM9.4 billion.
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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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