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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

17/03/2003

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Reuters

CATEGORY

HEADLINE

USDA report on oilseed export tenders
CHICAGO (March 16 2003) : Oilseed export tenders, results and marketinformation as reported by the US Department of Agriculture and privateexport sources on Friday.

SOYAOIL TENDER: The Commodity Credit Corp (CCC) will tender on March 20 tobuy a total of 8,410 tonnes of US crude degummed soyabean oil for donationto Kenya and Madagascar. Shipment period is April 5-20, 2003.

CCC seeks 2,000 tonnes for Madagascar and 6,410 tonnes for Kenya, bothunder Pl-480 Title II financing.

Distribution is by Catholic Relief Services.

MARKET TALK AND COMMENT: China is believed to have bought a 55,000-tonnecargo of soyabeans from the United States for March 25 to April 10shipment, exporters said on Friday.

The sale comes at a time when soyabeans from Brazil, the world's secondlargest producer after the United States, are quoted some $15 per tonnecheaper than US values.

One exporter said the US cargo was slated for shipment from the PacificNorth-west, from where it takes just 18 days to reach China, compared withsome 35 days from Brazil.

"It seems like they need the beans," the exporter said, adding that thepurchase of US soyabeans could be a "backup" until supplies from Brazilbegin arriving.

Another exporter said the purchase could be tied to delays in Chinaissuing import permits for Brazilian soyabeans.

Brazil officially bans planting of crops with genetically modifiedorganisms, but it is widely acknowledged that some 30 percent of its soyacrop is of the transgenic variety.

Copyright 2003 Reuters