Archived News

BANGI, Jan 10 (Bernama) -- Sao Tome and Principe is keen to collaboratewith Malaysia to increase its palm oil production and export market, itspresident Fradique De Menezes said here Saturday.

SEPANG, Jan 9 (Bernama) -- The President of São Tomé and Principe,Fradique De Mendez, arrived here Friday for a three-day working visit.

Maybe this line should read as ...process (produce) 60,000 tonnes of CPOper hour (year)...

WASHINGTON, Dec. 17, 2003 U.S. suppliers will be eligible to compete fornew commodity contracts to feed Iraqi citizens under the Oil-for-FoodProgram.

18 November 2003 ROME - The United Nations World Food Programme hasannounced it will meet the 21 November deadline for re-negotiating nearly900 Oil-for-Food contracts covering food, transport and handlingequipment.

JAKARTA, Jan 5 (OANA/Xinhua) -- Indonesia's crude palm oil (CPO)production is predicted to reach 10.4 million tons this year, higher thanlast year's 9.9 million tons, which will allow the country to boost CPOexport.

('billion' quote by news agency should read as million tonnes)

January 3 2004 - THE Government’s measure to impose cess on crude palmoil (CPO) producers to support cooking oil manufacturers has not affectedplantation counters.

KUALA LUMPUR, Dec 31 (Reuters) - Malaysian palm oil exports are expectedto remain strong through the first quarter of 2004 after a 13 percent jumpfor the whole of this year owing to short supplies of soyoil, analystssaid.A rally in prices was expected before March, as palm oil output goesinto a seasonal decline and supply of soyoil -- its main alternative --stays tight.Exports of palm oil until November officially stood at 11.4 milliontonnes, with an estimated 870,000 tonnes for December bringing theyear-end tally to around 12.3 million tonnes.Shipments for 2002 totalled 10.9 million tonnes."The way the U.S. and South American soybean production is going, itdoesn't look like the demand for palm is going to let up soon," said anoils trader in Kuala Lumpur."So, we could see another spike in prices between February and March,"he said, referring to the lowest production months for palm oil.Analysts said top soybean grower United States had hardly enough fromits drought-ravaged October harvest to cover world demand in comingmonths.Brazil and Argentina, two other major soy producers, were also close toexhausting their March harvest.In contrast, Malaysia, the world's biggest oil palm grower, saw abumper crop through 2003 owing to active expansion of cultivation groundsand good yields and weather.Leading crop watchers said Malaysian palm oil production was expectedto jump 10 percent to 13.2 million tonnes in 2003, but growth could beslower next year to touch around 13.8 million."This is because most palm trees may have topped their yields by nextyear but it's good because prices will be firm when productionconsolidates," said a grower.Palm oil futures on the Malaysia Derivatives Exchange (MDEX) jumped 38percent over three months to December 11 after the U.S. Department ofAgriculture cut its 2003/04 soybean output forecast by 14 percent to 2.47billion bushels from earlier estimates.Record palm oil exports between July and September -- averaging 1.19million tonnes a month -- also fuelled the rally.But a slide in exports since November owing to the start of year-endholidays saw futures lose a chunk of their value.MDEX's benchmark third-month contract, which touched a year high of1,865 ringgit a tonne on December 9 from a low of 1,233 on August 4,closed on Tuesday at 1,771 ringgit -- just 95 ringgit up from a year ago.RBD palm olein, palm oil's main physical product, was quoted on Tuesdayat around $500 a tonne, about $40 higher than last year's closing."It's a pity we don't have much of a premium to show at the year-endbecause it's been one heck of a year for this market," said a futurestrader on the MDEX.($1 = 3.8 ringgit)

JOHOR BAHARU, Dec 31 (Bernama) -- Kulim (Malaysia) Berhad (Kulim), awholly owned subsidiary of Johor Corporation (JCorp) has allocated RM479million for its oil palm plantation operations in Indonesia for the period2003-2010.

KUALA LUMPUR, Dec 29 (Bernama) -- Prices of Malaysia's major non-oilprimary commodities -- crude palm oil, rubber and tin -- are likely tostay firm next year, based on their current performance of late.

December 22 2003 - BINTULU Port in Sarawak is set to have a new operationsbuilding at its second inner harbour basin.