Archived News

28/02/05 Philippines - TWO major palm oil companies in Mindanao havereportedly signified to develop Tantangan town in South Cotabato asexpansion area for African oil palm (Elaeis guineensis) production, townofficials Monday said.

2/25/2005 Thai Press Reports - The Ministry of Energy is consideringforming a special purpose vehicle (SPV) to promote biodiesel production,Krungthep Turakij reported.

24/02/05 SAO PAULO (Dow Jones)--The Brazilian soy market is beginning toreact to higher prices on the international soy market, where concernsregarding the drought in southern Brazil have impacted prices.Earlier this week, Rio Grande do Sul crop agency Emater told Dow JonesNewswires that continued dry weather in the southern state of Rio Grandedo Sul could prompt losses of over 25% to the region's soy crop, but someanalysts believe losses could surpass 35%."If it doesn't rain, losses will definitely increase," said RenatoSayeg, a trader and analyst at Tetras in Sao Paulo.Sayeg said given current conditions, the harvest is likely to reach amaximum of 58 million metric tons.While prices are starting to increase due to lowered harvestprojections, sales levels are still limited on the Brazilian market."The increase in prices in Chicago hasn't impacted sales in Brazilbecause producers are waiting to see the full impact of the weather," saidAntonio Sartori, the president of Rio Grande do Sul-based Brasoja.Nonetheless, as larger amounts of new-crop soy hits the market, saleslevels are likely to increase.However, sales levels continue to be significantly below historiclevels.According to Celeres, producers have sold 34% of their 2004-05 crop asof Friday, well below the five-year average of 46%.Harvest levels are in line with historical averages and the marketestimates that Brazilian producers will have harvested roughly 15% of thetotal crop through the end of this week, up from 7% as of last Friday.Despite concerns about the Brazilian crop, traders added that theworldwide crop is still expected to be the largest ever, which has givenbuyers a greater deal of flexibility.A 60-kilogram bag of soybeans at the Paranagua port stood at 33.00 to34.00 Brazilian reals ($1=BRL2.59) Friday compared with BRL31.20 toBRL32.00 last week.In Ponta Grosso, northern Parana, soybeans were quoted at BRL30.00 toBRL31.00, similar to last week's levels.At Paranagua port, soybean premiums stood at 20 to 25 cents per bushelabove Chicago Board of Trade futures for February/March delivery. Soybeansare quoted at 6-10 cents above the CBOT for April delivery.Soy pellets were quoted at $10-$12 per short ton below CBOT quotes forApril delivery.A cold front will reach southern Brazil late Thursday and should bringscattered showers to the region through Saturday. These rains are notexpected to revert the drought-like conditions in the region.Brazil is the world's No. 2 producer and exporter of soybeans.

FORT LAUDERDALE, Fla., Feb. 22 -- Enviro Voraxial(R) Technology, Inc.(OTC Bulletin Board: EVTN - News) announced today that it has delivered aVoraxial(R) 2000 Separator to a major producer of palm oil in Costa Rica.During 2004, EVTN conducted separation tests on crude palm oil samplesprovided by the customer. Effluent samples were collected and thenanalyzed by a certified laboratory, which showed good separation of palmoil. The client was very encouraged by the test results and requested aVoraxial(R) 2000 Separator for testing at one of their facilities in CostaRica. The testing at their facility will evaluate several potentialapplications, including:

Revision Of MYR Peg Negative For CPO Prices(Dow Jones)--Calls for review of ringgit exchange rate continue, withMalaysia's Institute for Economic Research reiterating government shouldremove peg as soon as possible; MIER says ringgit currently 10%-12%undervalued. Any revision to a stronger rate will have negative impact onCPO prices in Malaysia, palm oil traders say. Since palm oil products areexported in dollar terms, ringgit-denominated CPO prices will have to beadjusted downwards to maintain margins.

24/02/05 MANILA (Dow Jones)--World coconut oil prices were higher thisweek, influenced by the strength of the trendsetting soy oil market,traders said.

KUALA LUMPUR, Feb 22 (Bernama) -- The Prime Minister Tuesday nightreiterated his determination to see the Malaysian agriculture sectorgrowing by leaps and bounds, tapping into the advancement of technologyand harnessing the endless opportunities.

2/23/05 INDIA - THERE seems to be a serious discrepancy between the valueof edible oil imports into the country and the corresponding revenuesearned by the Centre on these.

KUALA LUMPUR, Feb 23 (Bernama) -- Export earnings of most commodities andcommodities-based products with the exception of pepper and tobacco for2005 are expected to stay with the opening of newly planted areas in Sabahand Sarawak and increased downstream products, said a minister.

2/23/2005 Asia Pulse JAKARTA - Indonesia's exports of crude palm oil(CPO) to India are expected to fall short of expectations after the latterraised import duties on the commodity to 80 per cent, up from 65 per centearlier.

2/23/05 Oilmandi - Renewed USD weakness another factor likely to supportpalm oil market in near term, traders say. EUR/USD now at 1.326, highestsince mid-January. Continued USD weakness makes dollar-denominatedcommodities like palm oil more attractive for consumers, likely to triggerfresh buying interest.

JAKARTA, Feb 17 Asia Pulse - Indonesia's exports of crude palm oil (CPO)to India are expected to fall short of expectations after the latterraised import duties on the commodity to 80 per cent, up from 65 per centearlier.