Archived News

MEDAN, July 15 Asia Pulse - China and India are expected to cut theirimports of crude palm oil (CPO) from major producers such as Indonesia andMalaysia in the next few months, chairman of the Indonesian Palm OilAssociation (Gapki) Derom Bangun said.

HONG KONG (July 16 2004): China, the world's top soya importer, said itwould stick to a zero tolerance policy on harmful fungicide carboxyl forsoya cargoes, despite an agreement with Brazil to scrap a ban on exportersbecause of the chemical.

7/15/04 (Oilmandi) India - The edible oil processing industry is feelingleft out due to the government’s apathy.

7/15/04 (Oilmandi) - The US Department of Agriculture (USDA) has forecasta record oilseed output of 379.1 million tonnes (mt) for 2004-05, aremarkable 43.2 mt increase over 335.9 mt estimated for 2003-04.A significant part of the global production increase will come fromsoyabean. Forecast of this crop is placed at a new high of 224.6 mt,versus weather and disease-affected 189.1 mt in 2003-04.All the three major origins the US, Brazil and Argentina are forecast toharvest record soyabean crop, with higher acreage driven by attractiveprices over the last eight months.

7/15/04 (Oilmandi) - The expectation for the 04-05 U.S. sunflower crop isthat it will need to be rationed for both confections and oil types. Oldcrop confection prices increased last week and it appears that most of theoil-type needs are covered through the summer. The mandated labeling fortrans fatty acids is one crop year away. Some companies have already madethe switch to non-hydrogenated oils but there remain many that have not.The message to these food companies is that they need to start theplanning now to insure supplies in 18 months. Of the oils that can beutilized without hydrogenation, only sunflower and specialty canolas canincrease production. Cotton and corn oils are by-products of otherindustries. Consumer groups have pegged trans fatty acids as a healthhazard and have asked FDA to remove trans fatty acids from the ‘generallyconsidered safe’ status. Trans fatty acids have been compared to the ‘nicotine of the food industry’ implying that law suits are probable. It isassumed that this issue is only going to increase in importance.

12/7/04 - THE current crude palm oil (CPO) price level of RM1,450 pertonne is sustainable until the end of this quarter, said Golden HopePlantations Bhd (GHope) group chief executive Sabri Ahmad.

MALAYSIA'S crude palm oil (CPO) production this year is forecast to rangebetween 13.5 million and 13.6 million tonnes, almost similar or slightlyabove last year's output of 13.4 million tonnes, said PlantationIndustries and Commodities Minister Datuk Peter Chin.

ZHENGZHOU, July 13 Asia Pulse - Experts predict that with imports andstocks of soybean oil hitting record highs, the edible oil market in Chinamay remain stable and drop slightly in the near future.

JAKARTA, July 13 Asia Pulse - The government said it will support a planby crude palm oil producers to build crude palm oil storage tanks inChinese ports to facilitate sales of that commodity in that country.

KUALA LUMPUR, July 12 (Bernama) -- Malaysian palm oil stocks rose 15.85percent to 1.210 million tonnes in June as against 1.045 million tonnes inthe preceding month, says the Malaysian Palm Oil Board (MPOB).

KUALA LUMPUR, July 14 (Bernama) -- Malaysia hopes that India's move toraise import tariff by five percent on refined palm oil will be atemporary measure, says Minister of Plantation Enterprises and CommoditiesDatuk Peter Chin Fah Kui.

Chicago Tribune - Jul. 10--A little more than a year after McDonald'sCorp. extended its timetable to develop a healthier cooking oil, the fastfood giant is tinkering with a new formula in a handful of restaurantsacross the country.