Archived News

22/8/2003 - PALM oil prices are expected to hover above RM1,300 a tonneuntil year-end as a result of strong demand from Europe and India.

PUTRAJAYA, Aug 25 (Bernama) -- The five-day biennial International PalmOil Congress (PIPOC) 2003 at Putrajaya Marriot Hotel would officially takeoff this morning with a key note address by Primary Industries MinisterDatuk Seri Dr Lim Keng Yaik.

22/8/2003 - PALM oil producers, buyers and non-governmental organisationsare working towards establishing a common stand in promoting thesustainable production of palm oil.

August 23 2003 - INTERNATIONAL palm oil players consisting of producers,buyers and non-governmental organisations (NGOs) have pledged theircooperation towards establishing a common stand in promoting sustainableproduction of palm oil.

KUALA LUMPUR, Aug 22 (Bernama) - A record number of 1,430 participantsfrom 45 countries have signed up for the five-day biennial InternationalPalm Oil Congress (PIPOC) 2003 to be held in Putrajaya for the first timebeginning Sunday.

KARACHI (August 20 2003) : The scheme of palm tree plantation launchedrecently to reduce the burden of heavy imports of palm and other edibleoils has practically failed to reduce the vegetable oil import bill.

August 19 2003 - PALM oil smallholders, including those managed underagencies like Federal Land Consolidation and Rehabilitation Authority,Federal Land Development Authority and Rubber Industry SmallholdersDevelopment Authority, should increase their productivity or risk losingtheir sales to Indonesian producers.

KUALA LUMPUR, Aug 19 (Reuters) - China's cooking-oil inventories havestarted to build up, sending signals to local importers to curb imports asprofit margins shrink, traders said on Tuesday.In China's booming southern city of Guangzhou, for instance, stocks ofRBD palm olein were estimated at 15,000 tonnes, up from a normal 10,000tonnes a month earlier due to steady arrivals of cooking oil from mainproducers Malaysia and Indonesia, they said.China, one of the world's largest edible-oil consumers, has been anactive palm-oil buyer in the past few months as local importers havereplenished stocks ahead of the Mid-Autumn festival in September. Sometraders believed the Chinese market was a bit overbought."We are offering olein at 4,920 yuan ($594.42) a tonne but it will godown. The inventories in Guangzhou are too high. It's about 15,000tonnes," said one trader in China."People bought a lot of oil last month because the margins were huge at250 yuan a tonne. But cargoes keep arriving and the margins have gone downto between 50 and 150 yuan this month," he added.Kuala Lumpur freight brokers said China's shipment bookings forMalaysian/Indonesian palm oil for August were estimated at between 300,000and 350,000 tonnes. China bought 305,042 tonnes of Malaysian palm oil inJuly, according to cargo surveyor SGS."I reckon China's shipment booking for August is still quite healthy.September will be a scary month... I mean their imports will be damn slowbecause I heard there's no margin anymore in China," said one freightbroker.Some traders said China's imports in September could fall to 250,000tonnes, adding that consumers would avoid using RBD palm olein duringwinter because it solidifies."China imports in October will drop a lot. There's a rush in importsahead of the Mid-Autumn festival but I think local demand has started toweaken," said the trader in China.Traders said India, the world's largest edible-oil consumer, alsoshowed signs of slowing down. India buys palm oil from Malaysia andIndonesia."Shipment booking for August may reach 300,000 to 350,000 tonnes, but Idon't expect India to take more than 300,000 tonnes in September becausethe carotenoid issue is not resolved yet," said one trader.But traders said India's soyoil imports were seen steady at 200,000tonnes in August. Rival soyoil commands a premium of around $60 a tonne topalm oil.India has said imports of crude palm oil and crude olein must now havean acid value of two percent and a carotenoid value of 500 to 2,500milligrams per kg. Carotenoids are pigments found in plants.Traders said carotenoid content in Malaysian/Indonesian crude palm oiland crude olein was mostly below 500 milligrams per kg. This has forcedIndian importers to switch to refined products such as olein or refrainingfrom taking fresh positions.

RIO DE JANEIRO, Brazil, Aug 18 (Reuters) - China, the world's top soyimporter, has a quality problem with one Brazil-based shipper butcontinues to issue import permits for other shippers, a senior Chinesequarantine authority official said on Monday."China is not forbidding imports of Brazilian soybeans...there is onlyone company with whom we have a quality problem," said Wang Qinping,deputy minister of China's quarantine authority, known as the CIQ,speaking through an interpreter by phone during a visit to an industrialstandards center in Rio de Janeiro.

MELAKA, Aug 18 (Bernama) -- Malaysia is facing stiff competition fromIndonesia in the export of palm oil and could be overtaken by theneighbouring country as the leading exporter of palm oil in five yearstime.

HAMBURG (August 13 2003) : China's possible ban on soyabean importsreported last week is likely to be only temporary as the country is highlydependent on imports, Hamburg-based newsletter Oil World said.

KUALA LUMPUR (August 12 2003) : China has used up most of this year's palmoil import quotas as importers take advantage of cheaper RBD olein pricesfor forward shipments and good demand during the summer months, traderssaid on Monday.