Archived News

May 19, 2004... Saint Louis, Missouri... Representing the 25,000producer-members of the American Soybean Association (ASA), Board memberand past-President Bart Ruth, a soybean and corn farmer from Rising City,Neb., testified on the status of agricultural trade negotiations beforethe U.S. House of Representatives Committee on Agriculture. World demandfor soy-related exports, particularly high protein soybean meal andlivestock products, is growing rapidly. Expansion of developing economieshas spurred rising demand for and ability to afford a more nutritiousdiet.

5/21/2004 - In 1992, the aquaculture industry in China was not usingsoybean meal in feed. Today, soybean meal use by this industry isestimated to exceed 185 million bushels of soybeans a year, thanks in partto soybean checkoff-funded programs, implemented by the American SoybeanAssociation (ASA). These programs increased demand for U.S. soybean mealthrough feeding demonstrations showing the nutritional and economicadvantages of feeding U.S. soybean meal to fish. As a result of thesuccess experienced building demand for soybean meal in China'saquaculture industry, the soybean checkoff is now conducting similardemand-building activities in the aquaculture industries in India,Vietnam, Indonesia and the Phillipines. Checkoff-funded seminars,presented to fish farmers, feed mills, university professors andgovernment and extension officials in these nations, highlight data fromprevious feeding demonstrations held in China.

KUALA LUMPUR, May 18 (Bernama) -- The Ministry of Plantation Industriesand Commodities plans to organise a trade mission for cocoa and palm oilto Arab countries later this year to tap the relatively big market forthese products.

Thursday May 20, 2004 - THE Malaysian Palm Oil Board (MPOB) will set up adedicated working group to address the issue of Ganoderma or basal stemrot disease, which is fast becoming a major threat to oil palm cultivationand production in Malaysia.

5/19/2004 - Recent policy initiatives designed to promote biofuels couldresult in a displacement of 5% of the world's gasoline demand by 2010,according to a new study by the International Energy Agency (IEA).

Singapore, May 19 (OsterDowJones) - China imported around 220,000 metrictons of palm oil in April 2004, compared with 190,000 tons imported inApril, 2003, the China Securities newspaper reported Wednesday, citingdatafrom China's General Administration of Customs.China imported around 610,000 tons of palm oil in the January-Aprilperiod, up 13.3% from 540,000 tons in the same period of 2003, the reportsaid.China's official customs data is usually released on the 20th day ofeach month, but government agencies and state-owned media sometimes haveaccess to the data earlier than that. China Securities is a subsidiary ofthe officialXinhua News Agency.According to official data, China imported 3,324,806 tons of palm oilin 2003, up 50% from imports in 2002. Malaysia, the largest supplier,exported 2,432,314 tons of palm oil to China in 2003.

5/19/2004 - Trapped between increased demand and reduced supply, soybeanprices are setting highs for the decade. What sold last year for $5/bushelnow goes for $10 with new crop prices in the Midwest touching $8. Buyerswith sticker shock are looking for substitutes that do not easily existwhile farmers in soy zones are enjoying the boom and thinking that it willtake at least a year to rebalance supply and demand. With soy ingredientsenjoying increasing popularity, these new prices are touching an amazingarray of consumers.

Chicago, May 10 (OsterDowJones) - The MY 2004/05 copra oilseed productionin the Philippines is forecast at 2.4 million metric tons, according toinformation from the U.S. Department of Agriculture's Foreign AgriculturalService web site, dated May 5 and released Monday.

Chicago, May 17 (OsterDowJones) - Total Canadian 2004/05 oilseedproduction is forecast to increase to 10.0 million metric tons from 8.9MMT in2003/04, according to information from the U.S. Department ofAgriculture'sForeign Agricultural Service web site, dated June 3 and released Friday.

Chicago, May 18 (OsterDowJones) - Egypt's total oilseed production in MY2003-04 decreased by about 26 percent due to a significant decrease incotton area. Oil meal consumption decreased by 15 percent in 2003 comparedto 2002,but vegetable oil consumption in 2003 increased by 14 percent due to asubstantial increase in palm oil imports, according to a U.S. Departmentof Agriculture attache report issued Tuesday and posted on the ForeignAgricultural Service Web site.

KUALA LUMPUR, May 18 (Bernama) -- Growing demand for palm oil will enableMalaysia to sustain high prices for the commodity, Plantation Industriesand Commodities minister, Datuk Peter Chin Fah Kui said Tuesday.

ATLANTA, May 11 /PRNewswire/ -- The latest issue of FDA Consumer Magazine(March-April 2004) highlights the healthfulness of margarine products overbutter. Although the Food and Drug Administration (FDA) and other leadinghealth organizations such as the American Heart Association and theNational Cholesterol Education Program recommend soft margarine in placeof butter, there has been consumer confusion surrounding margarine'shealthfulness -- mainly due to the trans fat issue. According to the FDAConsumer Magazine, "To help sort it out, the agency has created a Web sitewith helpful background on trans fats and how to use the new labeling toplan a healthful diet."