Archived News

CHENNAI, JUNE 19: The oil palm refinery of the Tiruchirapalli-basedCauvery Palm Oil Ltd, is expected to begin commercial production nextmonth. ``We are in the final stages of plant erection and in allprobability it will be commissioned in the second week of July 2003, Mr VR Jayamani, general manager of the project told òf48óFEòf45ó fromTiruchirapalli. This demonstration-crushing-unit is being established atVaranavasi village, Ariyalur Taluk, Perambalur district.

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25/11/04 (Dow Jones)--India oilseeds sowing 6.7 million hectares duringNov. 1-22 period, up from 6.6 million year ago; if sowing for entireseason (until January) higher than last year, oilseeds production likelyto rise, which is bearish for palm oil prices in longer term, traders say.

25/11/04 (Dow Jones)--Weather conditions remain favorable for palm oilcrops, with showers, thunderstorms reported yesterday in Indonesia,Malaysia, says Meteorlogix. More rains expected today before diminishingovernight. Temperatures near normal.

25/11/04 (Dow Jones)--MPOA 2005 crude palm oil production estimate notsurprising; market already expecting limited growth in Malaysia palm oiloutput due to limited land expansion, cyclical factors. But positiveimpact from slow growth likely offset by Indonesian output, which isexpected to be strong in 2005, traders say. MPOA pegging 2004 CPO outputat 13.55 million tons, 2005 output at 13.80 million to 13.85 million tons.

MUMBAI, HYDERABAD, NOV 22: The production of nine major oilseeds in theoil year 2004-05 (November-October) is estimated to be 5.6% lower at 131.5lakh tonne as opposed to 138.9 lakh tonne a year ago, the CentralOrganisation for Oil Industry and Trade (COOIT) said late Sunday after the42nd All India Convention of Oilseeds, Oil Trade & Industry held atHyderabad.

Friday November 26, 2004 - PPB Oil Palms Bhd has agreed to acquire a 65%stake in Indonesian oil palm company PT Karunia Kencana Permaisejati forRM650mil.

MOSCOW, November 25 (RIA Novosti) - Russia could sell eight Su-30 fightersto Indonesia before the end of the year. The $250 million contract will bepaid for mostly in commodities like palm oil.

Wednesday November 24, 2004 - FRESH from making inroads into China,Ecofuture Bhd is eyeing the Middle East as the next major market for itsEcomat, a fibrous mat made from oil palm residue for use in soil erosionprevention and in combating desert and sand storms.

KUALA LUMPUR, Nov 17 Asia Pulse - Glenealy Plantations (Malaya) Berhadhas booked group pre-tax profit of RM10.848 million (US$2.9 million) forits first quarter ended 30 September 2004, up 18 per cent year-on-yearthanks to to higher fresh fruit bunch yields.

KUALA LUMPUR, Nov 21 -Many Malaysians may be dying every year ofmelioidosis, a soil disease caused by bacteria that killed 24 people inSingapore this year.But it remains a guess how many people succumb to the disease. The reason:Melioidosis is not a notifiable disease here. Therefore, medical officersand doctors do not have to inform the Health Ministry when their patientsdie of the disease.

24/11/04 - Soya oil prices are likely to appreciate in Jan/March 2005, dueto seasonally low production and a decline in world stocks. An importantprice-determining factor will be the development of Chinese soya oilpurchases. Reduced Chinese purchases in recent months and the sharpdecline in Argentine and Brazilian soya oil exports to China in Sept/Nov2004 were major bearish factors for soybean oil. As we point out below,the decline in Chinese soya oil imports during Oct/Dec 2004 will lead to apronounced reduction of Chinese stocks, resulting in higher domesticprices as well as pent-up demand and higher soya oil imports in Jan/March2005 and subsequent months. (For more details see below.) The US dollarweakened further yesterday and fell to a new 9-year low against majorcurrencies. The Euro rallied to a record high of 1.3103 dollar in Germany.There is ongoing concern in the market about the huge deficits in both theUS trade balance as well as the US budget. World crushings of soybeans areincreasing seasonally. For Oct/Dec 2004 we expect a world crush of 45.9 MnT, up by 2.4% from a year earlier. This compares with year-on-yeardeclines of 6.0% in July/Sept and 1.7% in April/June 2004. US soybeancrushings reached a new record in October and are likely to establish arecord level in Oct/Dec 2004. But soybean crushings are still runningbehind the year-ago level in Europe, Japan and some other importingcountries. The weak world import demand for soybean meal kept Argentineand Brazilian soybean 2 0 0 4 crushings below the year-ago level inOctober and we expect the soybean crush in the two countries to be alsodown from last year in Oct/Dec 2004.