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News 28701 to News 28710 of about 29523 news within page 2871
28701. 23/08/2002
HAMBURG, Aug 20 (Reuters) - Palm oil stocks in the main Asian productioncountries of Malaysia and Indonesia are likely to fall on the year betweenSeptember and the end of December 2002, Hamburg-based newsletter Oil Worldsaid.The newsletter said it is significant that recent palm oil pricestrength occurred although Malaysian and Indonesian production isincreasing seasonally."Foreign demand for Malaysian and Indonesian palm oil is high and as aresult of insufficient production, palm oil stocks in Malaysia andIndonesia will decline below the year-ago level as of end September aswell as until end-December 2002," it said."Average palm oil yields are expected to be down from last year inMalaysia and Indonesia partly due to a decline in the biological yieldcycle following the (palm tree) stress resulting from high production inthe last two years."Other factors cutting output are recent dryness in several productionregions and Malaysia's replanting programme which involved 150,000 oldtrees being cut down up to the end of June this year, it added.
28702. 23/08/2002
MANILA, Aug 22 (Reuters) - The Philippines said on Thursday it expectsprices of coconut oil in the world market to hit $500 per tonne CIF withan anticipated decline in production output in the country, the world'slargest shipper of the commodity.Danilo Coronacion, administrator of the Philippine Coconut Authority,told reporters that output of copra, or dried coconut flesh from which oilis extracted, is expected to fall to 2.3 million tonnes this year from2.85 million tonnes in 2001.Copra output would fall further to 1.5 million tonnes in 2003."There is a possibility it (coconut oil) might hit $500/tonne CIF dueto anticipated low production in the Philippines, global shortage insupply of fats and oil, and the anticipated decrease in supply in palmoil," Coronacion said.Coconut oil was quoted at $442.50/tonne CIF in Europe as of Wednesday.Analysts have said coconut trees produce smaller and fewer nuts aftertwo years of good output.
28703. 22/08/2002
08/19/2002(Financial Times Information Limited) - Indonesia expects toexport five million tonnes of crude palm oil (CPO) during `02, of which1.4m tonnes to India alone, the largest edible oil importer in the world."Indonesia is expected to produce 8.5 to nine million tonnes of CPO duringthe current year,'' said the Solvent Extractors' Association of Indiapresident Bipin Patel, who led a 19-member delegation to that countryearly this month.Last year, the total area covered under palm plantations in Indonesia was3.5m hectares, however, the total land available for palm cultivation isover 12m hectares.There is no agriculture land ceiling Act and an individual or company canhold as much land as it desires. "Indonesian government encourages 100%foreign investments in palm plantations,'' Patel said.There are hundreds of small islands in Indonesia having palm plantations.Fruit bunch, after cutting from the tree required to be processedimmediately, otherwise the quality of oil deteriorates.The delegation introduced the technology developed by India underTMO&P/CSIR programme and conveyed that India is in a position to supplysmall palm oil mills of 5 to 15 tonnes Fresh Fruit Bunches (FFB) per hourcapacity, which can be installed in the remote islands for quickprocessing of FFB."Indonesians particularly the small planters have shown keen interest forknow-how of palm oil mills,'' he added.Meanwhile, Globoil India -- India's premier international conference andexhibition on vegetable oil, feed and feed ingredients, oilseeds, relatedindustries and services, is taking place in Mumbai on September 22 and 23,`02.
28704. 12/08/2002
8/2/2002 (Business Times) - Firmaplus Sdn Bhd, as licensee of the ThermoTech Technologies that value adds organic wastes and by-products into endproducts, plans to forge a long-term partnership with the oil palmindustry.The technology will enable Firmaplus to convert oil palm biomass intoanimal feed.Malaysia imports an average of between 4.5 million tonnes and 5 milliontonnes of soya- and corn-based feed material a year worth about RM3billion.Firmaplus hopes that its technology can be used to produce ingredientsthat can replace these imported items.This alternative animal feed, considered to be nutritionally superior tocorn, will be made from palm oil mill effluent (Pome) and empty fruitbunches (EFBs) — the portion remaining after the palm kernel is removedwhich resembles a large hedgehog.Though EFBs and the Pome are considered waste products to the palm oilindustry, for Firmaplus they are raw materials required for its endproduct.Following an investment of between US$6 million (US$1 = RM3.80) and US$7million on research and development of the process in relation to the palmoil industry, Firmaplus is now prepared to commence operation and make itsproduct commercially available.Firmaplus executive chairman Ismail Radi told Business Times that for astart, the company hopes to set up 10 plants by the end of next year, eachcosting some US$10 million.These plants, which will be located adjacent to oil palm mills, areexpected to churn out a total of US$180 million in turnover annually.With Firmaplus handling the palm oil industry’s waste, the industry inturn can look forward to lower costs and increased margins as it wouldhave rid itself of waste management processes and expense.At the same time, the livestock business could trim costs by a quarter asit would have an alternative food source. "There is a 25 per cent savingsto breeders," Ismail said.Unlike corn and soya commodities which experience price fluctuations andare likely to be seasonal, Firmaplus’ feed meal will be availablethroughout the year. "We do not see a fluctuation in price," chiefexecutive officer Charles Miller said.The EFB and Pome which are high in nutrients are ground into "soup",fermented and converted into palette-shaped animal feed.With over 380 palm oil mills in the country, Firmaplus sees a hugepotential for growth within the country and expects to bring in foreignexchange once it begins to export its product.In the more immediate term, the company hopes to cater to the needs of thelocal livestock breeders and meet domestic demand for its product.Firmaplus is the master licensee for Malaysia, Indonesia, Thailand and thePhilppines.
28705. 12/08/2002
Monday, August 12, 2002 (The Star) - COLUMBIA is keen on using Malaysia’stechnological expertise for the development of large-scale oil palmplantations in its country, said Deputy Minister of Primary Industries,Datuk Anifah Aman in Sandakan last week.He said the Latin American country at the same time was also offeringinvestment opportunities for Malaysian companies to explore new marketsfor palm oil in their country.“They praised Malaysia’s success as the world’s largest producer of palmoil and have called on investors from here to invest in their country,” hetold reporters after presenting a cheque worth RM4.7mil to 20 smallholdersinvolved in the Replanting Incentive Scheme from various parts of Sabah.Anifah who recently visited Columbia said Malaysia was most receptive tothe offer, saying that it offered various possibilities includingincreasing Malaysia’s palm oil market in the country.“The government is studying the matter as the country has a lot to offer.’’As a palm oil producer with a liberal attitude towards competition in theindustry, he said Malaysia was not denying the possibility that Columbiacould one day become a competitor.He said Malaysia was increasing its efforts to market palm oil inIndonesia which has received good response. – Bernama
28706. 12/08/2002
Monday, August 12, 2002 (The Star) KUALA LUMPUR - Prices of the country’smain commodities have more than doubled following the success of theGovernment’s efforts to raise their prices in the past years, PrimaryIndustries Minister Datuk Seri Dr Lim Keng Yaik said.He said the current price for palm oil had increased from RM700 per tonneto RM1,500 per tonne, while the price of Standard Malaysian Rubber (SMR20)rose from 185 sen per kilo to 306 sen per kilo.“For cocoa, the price increase is more than double, from RM3,000 per tonneto RM6,500 per tonne, and the price of timber has also increased,” he toldreporters after opening the Selangor Gerakan’s delegates’ conferencehere.Dr Lim said the comparisons were made against last February’s prices ofthe commodities.On the consortium formed between the three natural rubber producers, DrLim said he would be in Thailand next month to set up the headquarters forthe newly formalised pact between Indonesia, Thailand and Malaysia.
28707. 12/08/2002
KUALA LUMPUR, Aug 11 (Bernama) -- Malaysia is confident that the currenthigh prices of commodities like rubber and oil palm can be sustainedfollowing the establishment of a mechanism for cooperation among majorproducing countries.Primary Industries Minister Datuk Seri Dr Lim Keng Yaik said with thecooperation forged between Malaysia, Indonesia and Thailand, the supply ofthe commodities in the world market could be controlled to prevent a glutwhich would bring down prices.
28708. 12/08/2002
BOMBAY, Aug 6 (Reuters) - The worst drought in a decade could hit demandfor edible oil during the festival season in India, the world's largestimporter, traders said on Tuesday.They said while the country was expected to buy more oils in Augustcompared with the previous month, imports would be much lower than at thesame time in the previous year.Traders said domestic demand would be lower, mainly due to a dry spell inmany parts of the country. The June-September monsoon rains have resumedafter a break but not enough to reverse the impact of the drought, theysaid."The drought has soured the appetite for oils," said an edible oil trader,based in the western city of Ahmedabad, adding the festival season waslikely to be a low key affair this time.Traders said India was likely to import 450,000-500,000 tonnes of oils inAugust, up from about 425,000 tonnes in July, but down from 655,000 tonnesin August last year.They said the demand in September and October was also expected to besubdued. Harvests for the winter oilseeds crop begin in late October.Domestic oil consumption normally rises during the Hindu festival seasonwhich starts in mid-August and peaks in early November with Diwali -- thefestival of lights.The monsoon rains arrived over the southern state of Kerala in early Juneand moved to the western parts of the country, but its progress innorthwestern India has been erratic.Several crops including oilseeds and grains in the key growing states havebeen hit by lack of rain and 12 states have so far declared either part orall of their territory drought-affected.Economists say the drought may cut deeper into growth than previousmonsoon failures due to the economy's growing reliance on spending byrural consumers.The monsoon, which has so far delivered 30 percent less rain that normal,is vital to the country's economy as agriculture makes up about 25 percentof gross domestic product (GDP) and employs about 70 percent of its morethan one billion people.
28709. 12/08/2002
8/8/2002, JEFFERSON CITY, The National Biodiesel Board (NBB) has unveiledits new Web site at http://www.biodiesel.org , offering the mostcomprehensive biodiesel information found anywhere in the world. NBB hasredesigned the site to allow for easier navigation on many aspects ofbiodiesel, including technical information, fuel suppliers, retail fuelinglocations, market applications and the latest industry news. The site alsocontains the largest database of biodiesel reports and studies foundanywhere on the Web.Biodiesel is an American fuel made from renewable fats or oils, such assoybean oil. It works in any diesel engine with few or no modifications.Biodiesel and biodiesel blends have been proven successful in more than 60million road miles, and more than 200 major fleets nationwide currentlyuse the fuel commercially.ìThis Web site is a very useful tool for anyone wanting to learn moreabout biodiesel,î said Joe Jobe, NBB executive director. ìThis is aone-stop shop for objective information about the fuel, whether you are afarmer, reporter, researcher, potential user or just someone interested inalternative fuels.îBased in Jefferson City, Mo., the National Biodiesel Board is a nonprofittrade association dedicated to coordinating all aspects of the biodieselindustry including research, market development and regulatory activity.NBB is an objective source of technical information and is dedicated toeducating the public about the many benefits of the fuel. Founded in 1992,NBB is celebrating its tenth year in operation. The board of directorsconsists mostly of biodiesel fuel suppliers and feedstock representatives.The Web site was created by the new Information-Technology (IT) divisionof NBB. The company formerly known as Information Now Technologies wasacquired by NBB in an effort to better serve its own Web needs whileoffering Web services to NBB members. Professional Web design and hosting,as well as a full range of information technology services are alsoavailable to the public. ìWe have a very talented Web designer on staffwho can help any organization or company anywhere in the nation take theirWeb site or other electronic informational resources to a higher level,îJobe said.Changes to the biodiesel.org Web site, which is funded by the South DakotaSoybean Council through the soybean checkoff fund, were presented to NBBvoting directors at a board meeting in Washington DC in July. During themonth of July, the total number of hits on the site rose from one millionhits worldwide to more than two million.ìWe receive numerous comments from all over the world about theeffectiveness of our site as a comprehensive information resource forbiodiesel,î Jobe said.To see some samples of Web site work done by NBB IT, visithttp://www.demos4u.com. Readers can learn more about biodiesel by visitinghttp://www.biodiesel.org. The National Biodiesel Board is funded in partby the United Soybean Board and state soybean board checkoff programs.
28710. 12/08/2002
08/03/2002 (Business Times) - THE current dry spell in India is expectedto affect about half of the country's oilseed-growing areas and cause aharvest shortfall of at least 900,000 tonnes.And palm oil appears to have the best chance of making up for theshortage, said Dr Ahmad Ibrahim, Malaysian Palm Oil Promotion Council'smarket promotions director.But it will still depend on the price differential between soya and palmoil on the international market, especially when palm oil draws an Indianimport duty of 65 per cent and soyabean oil only 45 per cent.India's domestic oilseed crop for this planting season is under seriousthreat, Ahmad said."Much of its rich agricultural states are facing a drought-like situation,a kind of an El Nino effect. Cumulative Indian rainfall in the currentmonsoon season has been the lowest in six years,"he said in an articlewritten for Business Times.The total area planted with oilseeds in the country is expected to beslashed to 4.47 million hectares (ha) from 9 million ha last year, headded.The biggest drop in harvest among the seeds will be soyabean, the area inwhich it is grown has fallen to no more than 1.8 million ha, from 5.1million ha last year.Likewise, the area under groundnut has shrunk to 2.03 million ha from 2.79million ha."Assuming an average yield loss of 1 tonne per ha, the cutback would reach3.3 million tonnes for soyabeans and 700,000 tonnes for groundnuts,"Ahmadsaid."In terms of edible oils, this would result in a shortage of over 900,000tonnes.... kharif (planting season) normally caters for Deepavaliconsumption that falls in October/November."It is when per capita intake of oils and fats jumps to the year's high.How will India cope? Can we expect India to import 6 million tonnes ofedible oils this year?."India has been the biggest buyer of Malaysian palm oil for a number ofyears. It purchased 2.03 million tonnes last year.Meanwhile, crude palm oil futures traded lower on the Malaysia DerivativesExchange yesterday.August, September, October, and November deliveries all fell RM12each toclose at RM1,494, RM1,495, RM1,493 and RM1,495 a tonne, respectively.
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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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