Archived News

JAKARTA, Feb 4 Asia Pulse - Plantation company PT Makin Group will investRp400 billion (US$47.6 million) to open 20,000 hectares of new oil palmplantations in East Kalimantan this year, a local official said.

KUALA LUMPUR, (AFP) - Malaysia's exports in 2003 breached the 100billion-dollar mark for the first time, driving the trade surplus up 45.7percent year-on-year to a record high of 75.04 billion ringgit (19.75billion dollars).

Thursday 29 January 2004(Oil World Flash) - Soya oil prices will besupported by the lower than expected soybean crushings in the 10 Asiancountries affected by the poultry crisis. We have already seen a pickup inChinese purchases of palm oil and soybean oil recently. The Argentineexport basis of soybean oil has strengthened lately. But while Chicagofutures were down sharply, flat prices showed only little change duringthe week in review.

JAKARTA, Jan. 20 (Xinhua) -- Indonesia palm oil export in 2004 is expectedto be down, as the government plans to impose export tax of 60 percent,said the Indonesian commission of palm oil on Tuesday."The Indonesia's palm oil market this year is expected to decline," saidRosediana Suharto of the commission.

JAKARTA, Jan 27 Asia Pulse - Indonesian producers of crude palm oil (CPO)said they are set to reject plans by the government to raise the exporttax on that commodity from 3 per cent at present.

January 06, 2004 - An ISIS Asset Management report finds that fewcompanies can trace the source of their palm oil up their supply chain toconfirm whether or not it is produced sustainably.

JAKARTA, Jan 21 - The government's plan to raise export tax this year oncrude palm oil (CPO) is feared to affect the performance of the country'spalm oil sector.

HAMBURG, Jan 27 (Reuters) - Malaysian palm oil exports are likely to risein February and March because of its attractive price compared to othervegetable oils while output is set to fall, Hamburg-based newsletter OilWorld said."Early estimates indicate a steep decline in (Malaysian) crude palm oiloutput in January," the newsletter said. Palm oil had become veryattractive compared to soyoil, sunoil, rapeoil and lauric oils, it said."This is noticed by consumers worldwide and will stimulate palm oildemand in the near term," it said."It should result in rising Malaysian palm oil exports in February andMarch and a reduction of Malaysian stocks owing to the seasonally smallproduction."

KIEV, Jan 21 (Reuters) - Ukraine increased imports of palm oil to 12,700tonnes in November 2003 from 9,800 tonnes inOctober and 7,900 tonnes in September, local analysts said on Wednesday.Analysts from ProAgro agricultural consulatancy said in a statementthe country had also increased imports of coconut oil to 1,300 tonnes inNovember from 1,100 tonnes in October."High local sunoil prices and an increase in local demand are the mainreasons for the rise in imports," analysts said.

JAKARTA, Jan 21 Asia in Focus - Rosediana Suharto of the Indonesian PalmOil Commission, said a draft proposal has been submitted to the statesecretariat calling for an increase in the CPO export tax of up to 60 percent. Imposition of a high export tax will result in big losses inIndonesia's market foothold, Rosdiana said, quoting a study by the OilWorld that every increase of 1 percentage point in export tax will cause aloss of 0.8 per cent in market share.

MANILA, Jan 22 Asia Pulse - The Philippine government is looking at apossible technical cooperation with Malaysia for the development of thecountry,s palm oil sector.

(Our Agriculture Editor) New Delhi, 21 January - Prime Minister AtalBihari Vajpayee called for greater encouragement to export-orientedsectors like floriculture. The output of oilseeds and pulses also neededto be stepped up to achieve self-sufficiency in these products, he said.