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News 31441 to News 31450 of about 32155 news within page 3145
31441. 22/04/2002
BUENOS AIRES, Argentina, April 19 (Reuters) - Argentina's governmentordered on Friday the repeal of an export tax change that had paralyzedgrains trade for three days, Cabinet Chief Jorge Capitanich said.Capitanich said the new decree effectively reverses another decreepublished on Wednesday that required exporters to pay export taxes on farmgoods at shipment time rather than at purchase."This decree should allow grains markets to resume normal operations,"Capitanich told reporters.The controversy over the tax change had led to the paralysis of thegrains market right in the middle of harvest, with numerous grain, oilseedand subproduct contracts to be filled at the end of April and thebeginning of May.Grain and oilseed exporters stayed out of the local grain market for athird day on Friday, awaiting confirmation the government would repealWednesday's decree.The government introduced the levies in March to boost tax revenuesthat have plunged during a four-year recession, a move many analystsargued would hurt the only dynamic sector of the economy and prompt a dropin grain and oilseed output next year.In April, the government doubled and in some cases quadrupled the taxrate to 20 percent for grains, oilseeds, vegetable oils and vegetablemeals. The rate for unprocessed oilseeds is 23.5 percent because the statecontinued a previous tax of 3.5 percent.Exporters had argued Wednesday's measure would make it impossible forthem to determine how much to pay farmers for their goods, making itdifficult for farmers to make seeding plans for the next crop, which couldcut production."The market is not operating," said a trader at a major internationalgrain firm. "Until the modification, the rectification, comes out in theofficial bulletin, we are not going to start operating again."Farm exports made up half of the $26.5 billion worth of goods Argentinashipped last year.
31442. 22/04/2002
Sunday, April 21, 2002 (The Star) - ADMITTEDLY, Australian entrepreneurSteve Kyle is not an expert in the oil palm industry. Nor is he directlyinvolved in the production of palm oil.But his ideas on how to solve the problems facing the industry in Malaysiaseem logical and worth considering.He believes there is a need to change the mindset of the producers thatthe “old way” of doing business is now outdated and the “new way” ofadapting to high technology is a must to survive in an impending,inevitable stiff competition from other countries.Moreover, with such a change, they are likely to gain a bigger slice ofwhat he says is a US$30bil global market.Kyle, 48, who graduated from Curtin University in Applied Science focusingon geographic information systems in 1991, was giving his views on lastweek’s article in which PPB Oil Palm executive director Khoo Khee Mingoutlined the importance, challenges and threats facing the industry.The threats to Malaysia come from what Khoo describes as “the increasingscarcity of two essential inputs – land and labour.”But Kyle believes that a bigger threat looms not only from Indonesia wherevast tracks of forest are being cleared for oil palm cultivation, but alsofrom India, Bangladesh, Africa and South America, which are also planningto grow their own oil palm.He warns that Malaysia, which now has almost a monopoly on palm oilexports, cannot be complacent or it would lose its lead in the industry.Its producers must look for new markets rather than concentrate mainly onAsia and Africa.“They have to break down the invisible wall that they have built to defendtheir present positions,” he argues.“They do not, in general, make much effort to accommodate buyers,particularly small and new markets, preferring to isolate themselves fromthem by a multi-tiered distribution system of middlemen.“So a system exists where small or new markets are satisfied by adistributor network that the major producers control by supply.Unfortunately, I believe the existing distribution network is not strongat satisfying new markets.“Typically, the distributors don’t seem to have the international skillsto facilitate market-making with new international buyers. I am convincedthat this is why the market for palm oil is showing growth only throughnation-to-nation initiatives, such as those with the Chinese Government orwith former communist-bloc countries.”Kyle says that the present situation is not straightforward and simple.There are many reasons that “dictate the way it is.”Increasingly, Indonesia, Africa, South America and other countries in thefuture will offer alternate supply paths. As their production increasesover the next few years, he says, a “price-cutting war” may result.He believes the Malaysian Government is aware of this and is trying toform an alliance with the Indonesian Government on the marketing of palmoil.In the past four years, Kyle has made extensive studies of the oil palmindustry of many countries and their future plans. He has attendedconferences and talked to people in the industry.When he first started his inquiries, he was “quite astounded” to find thatpalm oil has more nutritional value than any other oils in the world. Butnone of the producers has taken full advantage of these values to improvetheir products and market them in the West.“We pay double the price for margarine when palm oil is cheaper with thesame nutritional values,” he says.“To me, it is crazy that the producers are not making new products out ofpalm oil to attract the American market. All they are doing is to sellcrude palm oil as cheap cooking oil to countries like India, Pakistan,Bangladesh and China.“There is a big market in the West for products with nutritional values,especially in the health category,” he adds.Kyle believes that Malaysia was lucky not to have lost its dominance inthe industry two years ago. It was saved by the crash of technology sharesin the stock market.Otherwise, American companies would have set up portals focusing onparticular industries. These portals would provide a centralised and easyway to find all participants.If buyers accept this model, which represents a more efficient andcost-effective marketplace, then suppliers will be forced to participateor risk losing new business.“So Malaysia producers will find this marketplace a challenge if they areunwilling to adapt their existing business processes,” he says. “As withany market, there is a definite ‘first mover’ advantage.“In this case, those producers who grab the opportunity to use technologywould be able to build new relationships with less competition andstreamline existing processes to reduce costs. By using a system that letsthem deal directly with smaller or new customers, they would be more pricecompetitive.”That is why, Kyle says, he has registered the name “oilpalm” which isgeneric to the industry.It is easy for people to search for the website when they want to buy palmoil or to know more about the industry. It now has 6,000 members from 145countries.Companies that know how to apply computer technology in their businessdealings will be hugely rewarded, says Kyle, who owns Technology FleetManagement in Perth.But to have a good technological strategy is not simply setting up awebsite, he explains. There are many technical grounds to cover before itbecomes a vehicle with which to make deals.“It costs a lot of money to set up industry portals because none of thetools is readily available,” Kyle says. “That is why we are seekinginvestors to join us.“We have members from all over the world and we get postings regularlyfrom people wanting to buy palm oil. Some want 5,000 tonnes a month; oneis looking for 60,000 tonnes a month.“At the moment, we allow members to contact each other to complete thedeals. We don’t have the software yet to run the whole transactionsourselves.“What we need is a stock market-type of system where buyers put in anorder and if the price matches that of the sellers, the transaction goesthrough.“It is a very complex behind-the-scene transaction system. It opens a newavenue for marketing palm oil, especially to the smaller enterprises.”He believes that Malaysia is still in a position where it can activelyinfluence the “shape” of the new market environment. Its production sideand even product challenges can be overcome if there is a resolve toabandon the ‘this is the way it’s always been done’ mentality, he says.“Khoo Khee Ming is right. The Malaysian palm oil industry is at thecrossroads. The seemingly safe and comfortable status quo path leads tothe same place that rubber has found itself while other, initially moredisruptive, paths lead to the future.”By Jeffrey Francis
31443. 19/04/2002
15 April 2002 (NSTP) - RESEARCH into creating eco-friendly diesel isunderway by the Science, Technology and Environment Ministry with Petronasand the Malaysian Palm Oil Board.
31444. 19/04/2002
14 April 2002 (Business Times) - The Primary Industries Ministry ispreparing a paper on the proposed restructuring of the oil palm and rubberindustries which are beset with oversupply and low prices.
31445. 18/04/2002
NEW DELHI, April 16 -- The Solvent Extractors' Association of India(SEAI) reported that the country's import of edible oils fell by 20% to227,305 tonnes in March, 2002 as compared to 284,589 tonnes recorded inMarch, 2001.The fall is likely to continue in April due to improvedavailability of domestic oils.
31446. 15/04/2002
HAMBURG, April 9 (Reuters) - Global palm oil stocks at the end ofcalendar year 2002 will fall to a four-year low of 3.14 million tonnes,Hamburg-based newsletter Oil World estimates.This compares to 3.75 million tonnes at the end of 2001.The reason is slowing palm oil production growth and risingconsumption. The newsletter estimates global 2002 output at 23.68 milliontonnes against 23.36 million tonnes in 2001.The 300,000 tonne rise in 2002 compares to average annual rises of 2.1million tonnes in the last three years, it said.Background is the downturn of the biological yield cycle of palm treesafter the strong production growth in the past few years plusbelow-average growth in Malaysia's area of mature trees."This slowdown will considerably squeeze export availability and willalso lead to a substantial reduction in world palm oil stocks," Oil Worldsaid.It expects main inventory reductions to take place in Malaysia, whereit estimates stocks on December 31, 2002, at 900,000 tonnes against1,214,000 tonnes on December 31, 2001.Global 2002 palm oil consumption is set to rise strongly to 24.59million tonnes from 23.62 million tonnes in 2001, it forecast.
31447. 15/04/2002
KUALA LUMPUR, April 9 (Reuters) - India, the world's largest edible oilimporter, has booked up to 200,000 tonnes of palm oil from Malaysia andIndonesia so far in April to replenish its dwindling stocks, traders andfreight brokers said on Tuesday. "I think bookings to India are within therange of 180,000-200,000 tonnes so far this month," said one freightbroker."I would say India will be buying 230,000-270,000 tonnes for the wholeof April," said the broker, adding that India normally purchases around200,000 tonnes of palm oil a month from Malaysia and Indonesia, theworld's largest producers. Some traders speculated that India's palm oilintake had been slow in March because it had thought China, another mainbuyer, would hold back new import licences which would depress prices.India bought 109,290 tonnes of palm oil from Malaysia in March, downfrom 112,740 tonnes in February.But Kuala Lumpur dealers trading with China said on Tuesday Beijing hadissued new import quotas last week which totalled two million tonnes, upfrom 300,000 tonnes it released in late March.China is set to import 2.4 million tonnes of palm oil in 2002 followingits entry to the World Trade Organisation (WTO).Some traders said India's palm oil imports could touch 300,000 tonnesin April because of the low stocks, seen far below the monthly 600,000tonnes, and uncertainties in Argentina's soy oil exports.Traders said Argentina's decision to increase export tax rates ongrains, oilseeds and sub-products to 20 percent from 10 percent willlikely lead to a reduction in soy output and exports.The government has forecast 2001/02 soy output at 28.7-29.5 milliontonnes.
31448. 15/04/2002
KUALA LUMPUR, April 11 (Rueters)- Our final estimate on CPO production inMarch shows an upward revision of 20,000 tonnes to 885,000 tonnes. Thisrepresents an increase of 112,000 tonnes or 14.4 percent over February.The stronger than expected increase was attributed mainly to excellent oilextraction rates (OER). This was most evident in Sabah, the largestproducing state. Average oil extraction rates in the state surged 0.75percentage point or 3.6 percent to a record 21.7 percent. Several millsobtained exceptional oil extraction rates of 24 percent. Some plantationsattributed the excellent oil rates to near ideal weather conditions duringthe month.Overall oil extraction rates for the country at an estimated 20percent - up from 19.2 percent a year ago - was an all-time record highfor the month. CPO production in Peninsular Malaysia rose by around 15percent or slightly better than the increase of around 13 percent in EastMalaysia.For the first three months this year, CPO production amounted to 2.59million tonnes. This represents a contraction of 8.6 percent when comparedto the same period last year. Output in terms of fresh fruit bunches(FFBs) fell an estimated 12 percent while yield in terms of FFBs/hectarecontracted 15 percent.The estimate on palm oil offtake in March remains unchanged at onemillion tonnes. In line with the upward revision in production, theestimate on palm oil stocks at end-March is thus scaled upward to 1.18million tonnes. This represents a drop of about 100,000 tonnes from thepreceding month. It also means the bottom-line is little changed from ourMarch 21 estimate as the better-than-expected offtake was matched byhigher-than-expected supply.The downtrend in stocks of PK/PKO, oil basis, continued in March,albeit at a much slower rate of an estimated 6,000 tonnes. This compareswith month-on-month declines of around 14,000 tonnes in February and22,000 tonnes in January. Production of PK in March is estimated to haveincreased 30,000 tonnes or 13.5 percent to nearly 252,000 tonnes.China's State Development Planning Commission (SDPC) commenced todistribute TRQs for palm oil and other commodities since last Friday,April 5, or six weeks after it started to receive applications for thequotas. The SDPC had so far declined to reveal the exact quotasdistributed. Some traders closely linked to Chinese importers were advisedthe full 2.4 million tonnes quota for palm oil were released of which 66percent or 1.58 million tonnes went to private firms.However, state-owned enterprise which received the balance werebelieved to have been told by senior government officials to go slow inutilising their quotas. The protracted delays in the distribution ofquotas had resulted in an estimated 250,000 tonnes palm oil jammed up atvarious customs points. It would take some weeks before the cargoes couldbe discharged/cleared. MPOB figures show Malaysia's shipped 201,000 tonnespalm oil to China in January-February. By the end of March the quantity isestimated to have reached 395,000 tonnes or some 130,000 tonnes more thanthe corresponding three-month period of last year. Inclusive of shipmentsfrom other countries, the aggregrate quantity is estimated at 486,000tonnes or an average of 162,000 tonnes/month. A simple extrapolationsuggests total palm oil imports by China this year should at least reachtwo million tonnes or not less than the quantity taken last year.Palm oil price continued to be range-bound and appeared ratherresilient, as reflected in the steady to firm undertone in CPO futuresduring the greater part of yesterday after cargo surveyors reported alarger than expected drop in shipments in April 1-10. The June contractsettled at 1,176 ringgit, up 16 ringgit for the day.
31449. 13/04/2002
12 April 2002 (NSTP)PERSATUAN Penapis Minyak Sawit Malaysia (Poram) mencadangkan kerajaanmenjelaskan dasar semasa dan masa depan eksport minyak sawit mentah (MSM)bebas cukai memandangkan bekalannya yang dijangka berkurangan.
31450. 13/04/2002
KUALA LUMPUR, April 11 (Bernama) -- The Palm Oil Refiners' Association ofMalaysia (PORAM) has proposed that the 5.0 percent duty for products suchas bleached palm stearin, refined palm stearin and neutralised palmstearin, be abolished or reclassify under other palm oil products tariffcode that do not carry any export duty.
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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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