Archived News
13-12-2004
Heavy rain in Argentina causes $66m in damage to s
12/10/2004 EFE NEWS SERVICE- More than 10,000 people have been forced fromtheir homes by flooding in the Argentine province of Chaco, where the"prospects are bleak," officials said Thursday.
13-12-2004
MARKET TALK: United Plantations Sees Weaker CPO Pr
10/12/04 (Dow Jones)--CPO prices may fall to MYR1,300/ton within nextthree months, United Plantations Bhd Executive Director Martin Bek-Nielsenquoted as saying by Star daily; attributes decline to weaker soyoilprices, slower demand due to rising freight costs. USD weakness, however,one factor providing support to prices. Despite bearish outlook,plantation companies still remain profitable as production costs aboutMYR700/ton. Benchmark CPO futures contract now at MYR1,403.
10-12-2004
Boom in growing soybeans endangers South American
Posted on Wed, Dec. 08, 2004 DOLORES, Uruguay - A soybean boom is sweepingSouth America like a gold rush. Farmers with soy fever are plowing bymoonlight, speculating in jungles and dreaming of digging new canals tocarry their soybeans from the continent's vast and fertile interior toAtlantic and Pacific ports.
10-12-2004
CPO prices may continue to ease further
Friday December 10, 2004 - LOWER soy bean prices may be music to the earsof poultry farming companies that use soy bean-based feed, but forplantation companies, they would mean lower profits as crude palm oil(CPO) prices tend to trend in the same direction.
10-12-2004
Indonesia, Malaysia consider joint marketing to co
08/12/04 JAKARTA (AFX) - Indonesia and Malaysia, the two world's largestcrude palm oil (CPO) producers, are considering a 'common marketingstrategy' to have better control over international prices, a spokespersonfor the presidential palace here said.Visiting Malaysia Deputy Prime Minister Najib Razak and President SusiloBambang Yudhoyono have agreed that the neighbors should cooperate moretightly to stabilize CPO prices, said spokesperson for foreign affairsDino Pati Djalal.'Some thought has been given as to how both sides can cooperate in acommon marketing strategy so that Malaysia and Indonesia can have bettercontrol over the price crude palm oil on the international market,' Djalaltold reporters.He did not provide details, saying both governments will discuss the ideafurther.Indonesia and Malaysia may have better control CPO prices through jointadjustments of their production and inventory levels.
10-12-2004
Indonesia, Malaysia to Stabilize Crude Palm Oil Pr
JAKARTA, Dec 8 Asia Pulse - Indonesian President Susilo Bambang Yudhoyonoand Malaysian Deputy Prime Minister Najib Tun Razak have agreed on theneed for bilateral cooperation in stabilizing the price of crude palm oil(CPO), an Indonesian official said here Wednesday.President Yudhoyono raised the issue on the CPO price because it wassomething that concerned both countries, Indonesian presidentialspokesman, Dino Patty Jalal, said.
10-12-2004
Malaysian minister eye palm oil production, joint
Thursday, December 09, 2004 MAASIM, Sarangani, Philippines-- MalaysianMinister for Industrial Development Datuk Ewon Ebin said Wednesday theyare eyeing possible joint ventures in palm oil and fish production withthe Sarangani Provincial Government and local businessmen following athree-day visit here.
10-12-2004
MARKET TALK: China May Take 3 Mos To Absorb Olein
09/12/04 (Dow Jones)--China RBD palm olein stocks estimated above 200,000tons currently; assuming daily offtake of around 2,500 tons, may take morethan 3 months for the stocks to be fully absorbed, says Shanghai Pansun.Ample supply likely to limit room for large purchases by Chinese importersin the medium-term, traders say.
10-12-2004
MARKET TALK: No Impact Expected From USDA Soy Repo
09/12/04 (Dow Jones)--USDA 2004-05 soybean crop report due Friday unlikelyto influence edible oil prices as no big changes in figures expected,analysts say. USDA likely to wait until January report for majoradjustments. USDA report typically closely watched by soyoil market, whichin turn affects direction of palm oil, palm oil traders say.
10-12-2004
Myanmar invests millions of US dollars in palm oil
09/12/2004 THAI PRESS REPORTS - In order to earn foreign exchange andprovide sufficient edible oil, crude palm oil factories have beenestablished in Tanintharyi Division. Among the target of establishing 16factories, 12 factories have been completed. The expected installationcost is about 40 million kyats for locally made machinery and 2,000million kyats for imported machinery.
10-12-2004
New Japanese technology aims to improve production
09/12/2004 THAI PRESS REPORTS - A Japanese scientist has unveiled thelatest technology to produce ethanol and bio-diesel to help replace theuse of fossil fuels in the near future.
10-12-2004
Russia increases import duty for packaged palm oil
12/08/2004 13:54 - According to press-service of Russian government, theHead of Government Mikhail Fradkov on December 6 signed a resolution"About Amendments into Customs Code of Russian Federation Regarding PalmOil".