Exact word Contain word      |     Advanced Search
News 31771 to News 31780 of about 32006 news within page 3178
31771. 07/08/2001
DALIAN, Aug 3 (Asia Pulse) - The commodities exchange of this coastal cityof northeast China's Liaoning Province has grown into a soybean futurescenter in Asia.Latest statistics show that the Dalian Commodity Exchange clinched a total754.8 billion yuan of trade volume over soybeans in the first half of thisyear, accounting for some three-fourths of the entire domestic soybeanfutures market.In terms of soybean trade, the Dalian Commodity Exchange has jumped to thetop in Asia by overrunning Japan's Tokyo Grain Exchange and ranked secondworldwide, next only to the Chicago Board of Trade (CBOT).According to experts, the Dalian soybean market price is gettingincreasingly authoritative and has even become an important frame ofreference for both domestic and international trading over soybeans.China's futures market, as a result of the country's reform and openingup, has a history of merely a decade and by doubling its regroupingefforts, there are currently three exchanges nationwide, located inDalian, Shanghai and Zhengzhou.Tian Yuan, president of the China Futures Association, believes that thesuccess of the Dalian Commodity Exchange marks also the success of China'smarket economy and financial reform.For the first time early this year, the Chinese central government clearlyput forward the idea of steadily develop the country's futures marketduring the 10th Five Year Plan period (2001-2005).The Chinese government is now taking advantage of the futures market todirect investment, push forward the reform in the grain market and adjustthe agricultural structure, said Tian.With China's entry into the WTO, its soybean market, due to its maturity,will not encounter big problems. However, he said, other grain species,like corn, will be forced into a very tough situation.China produces one-fifth of the world's corn, but its corn prices andtrading are still based on CBOT references.It is learned that relevant Chinese departments are now considering thelisting of corn trading on the futures exchange.Expert here predict that if Dalian Commodities Exchange opens new businesson other grain species like corn, it will soon grow into Asia's leadinggrain futures market and the World's second largest next only to CBOT.
31772. 07/08/2001
04 August 2001,(Business Times) - AT least 25 per cent of the country'scrude palm oil production within four years is the minimum transactionfigure needed to run the Malaysian Electronic Exchange for Palm Oil(ePomex), the world's first electronic bourse for the trading of oil palmproducts.
31773. 07/08/2001
PETALING JAYA, Aug 6 (Bernama) -- Malaysia will focus on getting newmarkets and adopting higher production technologies, as part of itsstrategy to boost palm oil exports, said chief executive of Malaysian PalmOil Promotion Council (MPOPC) Datuk Haron Siraj.
31774. 07/08/2001
07 August 2001 (Business Times) - SUSTAINING the surge in interest amongpalm oil importers will be a challenge that the Malaysian Palm OilPromotion Council must continue to address for the long-term viability ofthe commodity, said council chief executive officer Datuk Haron Siraj.
31775. 07/08/2001
06 August 2001, (Business Times) - PALM oil industry players have beeninvited to be co-owners of the world's first electronic exchange for thetrading of oil palm products initiated by Malaysia, the global number oneproducer of the commodity.
31776. 07/08/2001
LAHORE, 8/6/2001 (Business Recorder) - Pakistan Vanaspati Manufacturer'sAssociation (PVMA) has called upon the government to reduce the importduty to 65 percent on palm oil, soyabean and other edible oils, used inthe manufacturing of ghee and cooking oils, claiming the rise in edibleoil prices in the international market is putting pressure on themanufacturers.A spokesman of the association said here on Thursday, that the currentprice trend is a result of phenomenal increase in the prices of edibleoils in the international market however, measures were necessary toalleviate the pains of the consumers for whom the prices of ghee andcooking oil are going beyond the purchasing power of people.Analysing the price rise trend in the international market, the spokesmanstated that from January to July 2001, the prices have gone up by 41 percent. The industry, being highly competitive, has been absorbing the pricehike of edible oil in the international market, but the pressure kept ongrowing compelling the industry to raise the prices of its products.The spokesman said that the prices of local oils are on the rise as injust six months it has gone up from Rs 35000 per tonne to Rs 44000 pertonne.He criticised the high share of government earnings in the ediblebusiness. The association stressed that in order to provide the consumerssome relief, the share sizes should be rationalised.
31777. 07/08/2001
8/3/2001(Business Times) - Palm oil prices, which saw gains of RM30 atonne yesterday, may see the uptrend moderate in the near term as thecurrent level of between RM1,200 and RM1,300 may start to deter freshuptake by traditional buyers, dealers say."Players are closely monitoring developments in the US market. . . .especially the rival oils," a trader told Business Times in Kuala Lumpuryesterday.The fundamentals however remain intact, with demand from big buyers likeIndia providing support for the prices at the RM1,200 level, he said.India is expected to report a lower output of vegetable oils this year inlight of an extended drought in the subcontinent. And with demand seenrising in the months through to Deepavali in November, palm oil isexpected to enjoy brisk business.Traders said recent developments in Indonesia also augur well for thesector, especially the republic's plan to reduce exports of the commodityto meet domestic demand.Indonesia produces about 7 million tonnes of palm oil a year, of which 3million tonnes are exported. Only Malaysia produces more of the commodity,at over 10 million tonnes.At the sound of the bell yesterday, the spot crude palm oil (CPO) futurescontract on the Malaysia Derivatives Exchange (MDEX) shot up to RM1,275 atonne. But profit-taking surfaced later in the day to trim the gain andspot August closed at RM1,262 a tonne for a net gain of RM30, as didSeptember futures at RM1,265.October meanwhile put on RM32 to RM1,268, and November RM31 to RM1,271.Total volume was a heavy 3,463 lots compared to 2,685 lots on Tuesday,while open interest stood at 11,263 contracts, up from 10,905 contracts.In the physical market, August South CPO was traded at RM1,275 a tonnecompared to Tuesday's RM1,245.
31778. 03/08/2001
HYDERABAD, 8/2/2001 (Financial Times Information Limited) - ProvincialSecretary for Forests, Wildlife and Environment, Shams-ul-Haq Memon, hassaid that a programme was on the anvil to set up a pilot project forcoconut and oil palm and added that in order to introduce this cash crop,a research project was being established in Thatta. He said for thispurpose, a laboratory would also be established.He added this during the inspection of coconut experimental farm on MirpurSakro road. A delegation of Pakistan Coconut and Oil Palm PlantationSociety (PCOPPS) also accompanied the secretary.He expressed satisfaction over the increase in the coconut production forwhich the Pakistan Agriculture Research Council (PARC) had contributed alot. Memon said that time had come when the cultivation of coconut and oilpalm should be done on commercial basis. He disclosed that aninternational research organisation of Germany which was doing research oncoconut and oil palm had already been contacted by the Sindh forestdepartment and expressed the hope that a break through will be made inthis respect.He said that this experimental farm had been initially handed over to theSindh Coastal Development Authority (SCDA) where research on coconut andoil palm was being conducted with the cooperation of the federalgovernment. He, however, added that now this farm had been transferred tothe Sindh forest department. He stated, a lot of work had been done oncoconut by the forest department and its plants were also being sold inthe nurseries of the forest department in an around Thatta. He, however,said that for the time being no expert was available for research on oilpalm but added that a team of experts would be constituted to conductresearch on oil palm.The project director, Sindh forestry development project, Muneer AhmedAwan, told the delegation of PCOPPS that a campaign had been launched inThatta and its suburbs to motivate the growers about coconut plantation.He said that it was a cash crop and if mass production was carried out,its by-products could also be exported. He concluded during the on goingtree plantation campaign, arrangements had been made to distribute thecoconut saplings.
31779. 03/08/2001
CHICAGO, 8/2/2001 (Financial Times, London) - Large areas of the EuropeanUnion's farmland could be turned over to the production of alternativefuels, whose use would become compulsory by 2005, under plans being drawnup by the European Commission.The proposals, scheduled for adoption in September, would force EUcountries to ensure that by 2005 at least 2 per cent of fuel used fortransport came from biofuels - produced from crops such as sugar beet andoilseeds as well as waste.This figure would rise by 0.75 percentage points every year until at least2009, when a compulsory target would be introduced for blending smallquantities of biofuels into conventional diesel and petrol. The goal isfor bio-fuels and other substitute fuels, including hydrogen, to make up20 per cent of fuel use in transport by 2020.Biofuels are manufactured from a range of agricultural products and evenwaste. Bioethanol, which can be used as an automotive fuel by itself ormixed with conventional fuels, can be produced from sugar beet, cereals ormaize. Biodiesel, the most commonly used bio-fuel, is usually producedfrom rapeseed oil.The initiative mirrors similar efforts in the US with fuel additiveethanol, primarily made from maize, begun in the 1970s under PresidentCarter. US bio-ethanol production will reach an estimated 10.5m tonnes in2003. The EU produced 968,000 tonnes of bio-fuels last year.The European draft law forms part of the Commission's drive to become lessdependent on imported fossil fuels and to cut emissions of gases that areblamed for global warming. It also tallies with the Commission's attemptsto shift the emphasis of EU farm policy further away from maximising foodoutput to supporting other rural activities and severing the link betweensubsidies and production."There is no doubt that the promotion of the use of biofuels in the EU isdesired at political level for the reasons of sustainable development, COreduction, security of supply and the additional positive influence onrural development and agriculture policy," the Commission says in a draftof the proposals.The Commission hopes that farmers will grow the raw materials for thesefuels on land taken out of commercial food use under the EU's compulsory"set-aside" programme. It predicts that up to 20m tonnes of biofuels couldbe produced on set-aside land, 7 per cent of EU petroleum productsconsumption.The main drawback is the cost. The Commission calculates the additionalcost of biodiesel over conventional oil-based diesel at about Euros 250(Pounds 154) per 1,000 litres with an oil price of Dollars 25 a barrel.To bridge this gap the Commission is proposing giving EU states the optionof reducing excise duties on fuel containing biofuels. Previous attemptsto grant this tax exemption have failed to win the backing of EUgovernments.Europia, the group representing most of the big oil companies in Europe,said biofuels could play a role as a complement to conventional fuels butwarned against forcing the technology through before wider research wasdone into the environmental, technological and economic implications."In principle we're not opposed, but we must go cautiously and do some R&Dbefore we start prescribing this sort of thing," said John Price, Europiaexecutive director.Environmental groups have also reacted cautiously to the plans, suggestingthey were largely being driven by farming interests and domestic politicsin certain EU states. They said they could detract from measures on thestatute books to reduce harmful emissions from fuels."All the studies show that the emissions profile of bio-fuels is not asgood as some of the cleaner fuels we've legislated for," said FrazerGoodwin of the European Federation for Transport and Environment.Some EU countries have already attempted to boost the biofuels sector,particularly Austria. Additional reporting by Chris Bowe in Chicago
31780. 03/08/2001
KUALA LUMPUR, Aug 2 (Reuters) - Malaysian palm oil futures retreated bymidday on Thursday due to overnight falls on the Chicago Board of Trade(CBOT).The benchmark third-month October contract was down 13 ringgit at 1,255ringgit ($330.26) a tonne after trading as high as 1,271 ringgit.Volume was thin at 844 lots, compared with 3,463 lots at the close onWednesday.Some traders said the market's uptrend remained intact because ofexpectations of lower output in the coming months and a stronger rupiahcurrency, which would make Indonesian palm oil less competitive.There was also talks private forecaster Ivan Wong will release hisestimates for July output, end-month stocks and exports on Friday.But some traders in Indonesia, the world's second largest palm oilproducer after Malaysia, said they had yet to factor in recent rupiahgains into prices."I would say our crude palm oil (CPO) prices are still about $5 cheapercompared with Malaysia's. By-products are even cheaper with the discountreaching more than $10," said one trader in Jakarta.Many Indonesian traders said they had to offer discounts because ofcongestion at ports such as Belawan and Dumai on the island of Sumatra,where most palm oil growing areas are found.Others said some exporters were offering more shipments from Jakarta onthe main island of Java and Pontianak on Borneo.Crude palm oil ex Belawan in Sumatra was quoted at $340/tonne for August,$345 for September and at $350 for October.In Malaysia, physical August crude palm oil for the southern and centralregions was offered at 1,255 ringgit a tonne against bids at 1,250. Tradeswere reported at 1,245 to 1,250 ringgit for both regions.Physical September CPO for the southern and central regions saw offers at1,265 ringgit against bids of 1,255. No deals were reported.Among refined products, August/September RBD palm oil was offered at $350a tonne and October/November/December at $355.Offers for August/September RBD olein were made at $370 andOctober/November/December at $375.August/September RBD palm stearin was offered at $290 andOctober/November/December at 292.50, while August palm fatty aciddistillate was offered at $215.
[ first ]    [ prev ]    [3173]   [3174]   [3175]   [3176]   [3177]    3178  [3179]   [3180]   [3181]   [3182]   [3183]    [ next ]      [ last ]

Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533