Archived News

Mumbai , Feb. 7 - POLITICAL pressure, rather than supportive scientificevidence, seems to have won the day for palm oil importers. This is clearfrom the unseemly hurry shown by the Ministry of Finance in diluting thecarotenoid condition.

2/7/05 - Oilmandi - THE Finance Ministry's decision on January 31 not toreduce the tariff values on imported edible oils, contrary to generalexpectations, seems to have been prompted mainly by revenueconsiderations.An indication of this is that the Central Board of Excise and Customs(CBEC) had, on January 13, actually approved a reduction in the tariffvalues for the entire palm oil complex.

JAKARTA, Feb 7 Asia Pulse - Indonesia hopes to export up to 1.2 milliontons of crude palm oil (CPO) to India in 2005, up from 960,000 tons in2004 with the relaxation of import restriction..The surge in export is possible with the abolition of the regulationrequiring a minimum content of beta carotene for CPO allowing to enterthat country.

2/7/05 Oilmandi - Indonesia physical palm oil prices higher today onexpectations of higher exports following India's decision to relax CPOimport rules. CPO in Medan at IDR3,280/kg vs IDR3,248/kg last week. "Thenews is very positive for the market," says trader in Jakarta. RBD PalmOlein at IDR3,650/kg vs IDR3,600/kg last week. Indonesia Palm OilAssociation, or Gapki, says Indonesia's CPO exports to India may increase25% to 1.2 million tons this year vs 960,000 tons in 2004 as India hasrelaxed beta-carotene content rules for imported CPO

Saturday, February 05, 2005 Jakarta - In a bid to boost its production,the publicly listed plantation company PT PP London Sumatra Indonesia(Lonsum) plans to build three new palm oil mills in Sumatra -- allexpected to start operation later this year.

6/2/05 KUALA LUMPUR (AFX) - The issue of an increasing palm oil stockpile,resulting in the current downward spiral in crude palm oil (CPO) prices,must not be 'overplayed' as the commodity is fundamentally supported byencouraging global supply and demand factors, the Star reported.It quoted Malaysian Palm Oil Association's Chief Executive MR Chandran assaying: 'I do not consider the current stockpile of 1.5 mln tons high asMalaysia's average palm oil monthly exports are between 1.1 mln and 1.3mln tons. If one were to compare this export figures of 1.3 mln tons withthe current stocks of 1.5 mln tons, the stockpile is not excessive atall.'

NEW DELHI, FEB. 5. The Centre has liberalised certain specificationsprescribed hitherto on crude palm oil and palmolein imported at aconcessional duty of 65 per cent by actual users. The revised norms havebeen notified and came into effect yesterday, an official statement saidhere on Saturday.

2/7/05 Oilmandi - Indonesia expects to increase its crude palm oilexports to India following the latter's decision to relax its strictimport rules, reports Kompas newspaper.

Monday February 7, 2005 - THE issue of rising palm oil stocks, resultingin the current downward spiral in crude palm oil (CPO) prices, must not be"overplayed", as the commodity is fundamentally supported by encouragingglobal supply and demand factors.

2/7/2005 NewsRxDiabetes - The metabolic and antioxidant effects ofvitamin E are superior to those of diltiazem in diabetic rats.

3//2/05 BUENOS AIRES (Dow Jones)--Argentina exported 2.13 million metrictons of soyoil in 2004, according to the latest data from the country'sanimal- and food-health agency, Senasa.

3/2/05 SAO PAULO (Dow Jones)--Brazilian soybean production will total 63.3million metric tons in the 2004-05 season (October-September), up 28% onthe previous season, said the local Agroconsult agricultural consultancy.