Archived News

12/22/04 - Indian palm oil industry is against any cut in import duty onthe commodity and has sought 'plantation crop' status for oil palmcultivations in the country, a senior industry official said Wednesday. Hesaid an impetus to domestic oil palm cultivation will help meet shortfalland reduce foreign exchange outflow for imports.

KUALA LUMPUR, Dec 22 (Reuters) - Malaysia's palm oil output inDecember is expected to touch 1.2 million tonnes, crop forecaster PALMISManagement Sdn Bhd said on Wednesday.Production in November officially stood at 1.26 million tonnes.PALMIS's figures, compiled by independent market analyst Ivan Wong,forecast December palm oil exports at 965,000-970,000 tonnes.Exports in November officially stood at 1.10 million tonnes.Wong put end-December stocks of palm oil at 1.525 million to 1.535million tonnes, against the official 1.41 million seen at end-November.Reuters will publish on Thursday details of Wong's estimates on palmoil supply and demand for December.

22/12/04 (Dow Jones)--Palm oil price discount to soyoil widening,suggesting downside for palm oil prices likely limited at least in nearterm, traders say. RBD palm olein now offered around $400.00-$402.50/ton,about $100-$120 cheaper than rival soyoil; wide price differential mayencourage consumer buying.

22/12/04 (Dow Jones)--Remarks from Malaysian central bank that it has noplans to revise ringgit peg likely a relief for Malaysian palm oilproducers. Recent market speculation of potential change in peg hadsparked some concerns as stronger ringgit would put downward pressure onCPO prices, traders say.

NEW DELHI - Dec 22/04 - SNS -- Dividends paid by Oil Palm India Ltd.(OPIL) to the India government reached a record Rs.4.992 million andRs.6.795 million to Kerala Government for 2003-04.

22/12/04 SAO PAULO (Dow Jones)--With planting now complete across Brazil'smassive soybean belt, farmers are nervously stalking their crop withmagnifying glasses searching for signs of the deadly Asian rust fungus.Farmers lost up to 10% of their last crop to the fungus, which spreadon the wind across Brazil, amid shortages of key fungicides.To ensure there will be no shortages this year, the main fungicideimporters, Basf and Syngenta, have set up special supply routes, includingregular flights from Europe.German chemical giant Basf will import the principal agent of itsOpera fungicide from Spain, which will then be mixed at its Guaratinguetaplant in Sao Paulo.Swiss agrichemical company Syngenta says it will have a fleet of 20planes flying out of Grangemouth, Scotland, to ensure supply of itsPriori-Xtra fungicide."A ship takes 30 days while a plane takes just 12 hours. Of course thecost will be higher, but it's worth it to increase our share of themarket," said Odanil Leite, manager of Syngenta's fungicide department.Demand for anti-rust fungicides has rocketed since the disease wasfirst identified on Brazilian soil in 2001. The anti-rust market will turnover $700 million this year, according to Brazil's Herbicide, Pesticideand Fungicide Industry Association, or Sindag.But it is more or less certain that there will be a shortage offungicides across some part of the soy belt this season, according to JoseTadashi Yorinori, crop pathologist of the Agriculture Ministry's crop-research agency.The fungus attacks the leaves of soy plants, exposing the pods to thesearing Brazilian sun and can reduce yields by 80%.Producers now are better prepared, and they are expected to increasethe number of fungicide applications per hectare from 1.7 to 2 times percrop cycle.But equally, farmers have less money to spare as they have seen pricesfall and input prices rise."As a result, producers are likely to spray after rust has been foundinstead of before, which is less efficient," said Syngenta's Leite.Endrigo Dalcin prowls his 700 hectares of soybeans in Nova Xavantina,Mato Grosso, in search of signs of the disease.His region has yet to register a case of rust this year, but he ispreparing to spray after Christmas, once flowering starts.The fungus has been spotted in nine Brazilian states, across 81municipalities, and is assumed to be present across the entire soy belt.Embrapa has warned farmers to be particularly observant over the nextcouple of weeks in areas.The largest number of cases was registered in the No. 2 state ofParana, which has been particularly wet.

BANGKOK, Dec 20 (TNA) - A large-scale investment firm has shown aninterest in palm oil related-businesses in Thailand's violence-affectedsouthern Pattani Province, according to the provincial governor.

Dec 21 4:14 AM - TH Group Bhd said its MSC-status subsidiary iTechWorldwide Sdn Bhd has secured a project initially worth RM380,000 fromUnilever Ghana for the supply and implementation of eFLEX solution, asuite of management software for plantations and palm oil mills.

PETALING JAYA, Dec 20 (Bernama) -- Felda plans to set up a RM20 millionbiotechnology plant in Sepang to produce better quality plantation seedswith higher yield.

Dec. 20, 2004 -SARANGANI Province-A Singaporean investor engaged in palmoil production has started expanding its operations, according toSarangani Governor Miguel Dominguez.

Tuesday December 21, 2004 - TO GET more motorists to use palm oil diesel,the Government is considering giving them some form of incentive for usingthe fuel, Sin Chew Daily reported.

20/12/04 (Dow Jones)--Indian edible oil prices lower in week to Fridayamid ample supplies, with domestically crushed oils arriving in market.RBD palm olein quoted at INR36,000/ton, down INR500 from last week. Ifstocks continue to rise and price weakness persists, may be bad news forpalm oil producers Malaysia, Indonesia in coming months as room forfurther Indian imports may be limited, traders say.