Archived News

31/1/05 (Dow Jones)--RBD palm olein prices in China likely to stay weak inshort to medium term as demand still sluggish due to low temperatures,says Shanghai Pansun; stocks at main ports estimated around240,000-250,000 tons, which would take time to be consumed, keeping pricesunder pressure. Room for fresh imports also likely limited in near termdue to negative margins as selling prices in domestic market (aroundCNY4,150/ton) below import cost.

NEW DELHI, JAN 23: Budget 2005-06 is likely to restructure import tariffson oilseeds and edible oils. The ministry of consumer affairs has proposeda halving of the import duty on oilseeds to 15%. It has also recommendedrationalisation of the customs duties on edible oils, which would entaillowering duties on most products, according to senior officials.

30/1/05 PAKISTAN - The population of Pakistan has increased from 32.5million in 1947 to 149.5 million currently. The consumption of edible oilhas also been increased proportionally from 0.3 million tons to 1.95million tons during the last two decades. The population is increasing ata rapid rate but the production is meagre and fluctuating.

30/1/05 Pakistan - Although, Pakistan 80 per cent cultivatable area isirrigated but the edible oil needs are met through imports. The importbill rising from Rs77 million in 1969-70 to Rs39 billion in 2002-03 hasoverburdened the exchequer.

31/1/05(Dow Jones)--Oilworld expects soyoil, palm oil prices to findsupport at current low prices, say traders familiar with its latestreport. In medium term, some price advance possible due to seasonallylower stocks, slowdown of production growth. Demand for eight majorvegetable oils forecast to rise by a record 5.3 million tons in 2004-05year (October-September) compared with 3.6 million tons previous season,partly due to growth of biodiesel industry.

KARACHI (January 27 2005): Pakistan's palm oil market saw little buyinginterest in the past week but dealers said on Wednesday that dwindlingcottonseed supplies would boost imports in a few weeks. Weak internationalprices and overbought positions held by big importers were behind theslack buying interest and most traders were waiting for the internationalmarket to hit rock bottom. "There is room for big imports as current(international) prices are very attractive but the market lacks aggressivebuying interest," said Akbar Puri, an importer in Karachi.

1/31/05 Oilmandi - MALAYSIAN crude palm oil futures on BMD endedmarginally higher on Friday due to short covering. Markets will lookforward to export estimates for the month of January next week, fordirection.

Friday, January 28, 2005 - Ahead of lunar new year festivities, industriesin China are reducing their activity, and this will eventually cut demandfor certain raw materials including crude palm oil (CPO), thus weighingdown on the commodity price.

1/28/2005 MANILA STANDARD - The coconut oil industry is incensed. "It istime to correct the lies perpetuated by the US soybean industry thatsaturated fats, which include coconut oil, are a threat to consumerhealth," declared the Philippine Coconut Producers Association Inc.(PCOPA).

Saturday, January 29, 2005 Jakarta - President Susilo Bambang Yudhoyonosaid he has ordered state-owned enterprises to work to improve thelivelihood of farmers and fishermen who constitute a majority of thecountry's 230 million population.

Jan. 29, 2005, 9:43PM BOMBAY, INDIA - Use of edible oil as a fuel couldincrease in coming years as major vegetable oil producers from Malaysia toBrazil seek to cash in on high energy prices, industry executives saidthis month.

1/20/2005 - Danisco has received authorisation to use and sell its new,vegetable oil-based plasticiser GRINDSTED SOFT-N-SAFE in the EU. Theauthorisation is a breakthrough within plasticisers where consumers havelong called for an alternative to, for instance, phthalates. The producthas been included in the EU's positive list for the so called superdirective and is a safe solution for use with no quantitative restrictionsin food contact materials.