Archived News

Dow AgroSciences is developing triple-low rape varieties that have lowlevels of erucic acid, glucosinolates and linolenic acid and yieldhealthier, tastier and more durable vegetable oil. United Oilseeds is apartner in the development. A spring variety Nexera will be sown on 7,500ha in the UK in 2004 yielding some 10,000 tonnes of seed for crushing. DowAgroSciences expects 1-1.5 M ha of the EU's 3 M oilseed rape to betriple-low eventually. ADM Pura, supplying some 55% of the UK'srapeseed-derived oils and fats, is eager to deal in healthier oils withlower contents of trans fatty acids.

The European Union Helpdesk Database was lunch on 2nd February, 2004. Itis being developed in several stages. The first phase consists of adatabase on the internet including the following elements :-

World oilseed prices are expected to be volatile over the next few monthsas markets monitor pre-harvest weather in major soyabean growers Braziland Argentina, according to the UK's Home Grown Cereals Authority (HGCA).

Chinese palm oil intake is expected to increase to 3.3 million tonnes in2003/04 from 3.1 million in the previous year, boosted by a shortage ofdomestic oils and improved economy according to a Chinese industryofficial. The domestic market will move into a peak season for palm oilconsumption at the begininning of May, 2004, thereafter, palm oil pricesare expected to edge up. Demand is expected to decline from September orOctober before rebounding again in December, 2004. Chinese demand forimported oils and oilseeds will also remain strong in 2003/04, with totaledible oils availability expect to reach 18.4 million tonnes compared with17.7 million tonnes in 2002/03. Prices on the domestic market and theinternational market have reached highs in recent years amid mountingrisks, therefore China, P.R. will import edible oils more prudently.

India, the world's largest edible oil importer, raised the base importprice of crude soybean oil on Wednesday (03/03/04), a move traders saidwould firm up domestic prices and hit soybean oil imports. A FinanceMinistry notification said the price of crude soybean oil had been raisedto $710 a tonne from $643. But it left the base import price of palm oilsunchanged. Traders said that the increase in the base price of crudesoybean oil was likely to hit imports in the coming months because palmoil was cheaper. Palm oil stands to gain because the disparity in priceshas further widened with the revision of base prices.

Pakistan is expected to buy 1.4 million tonnes of palm oil this year thesame amount as 200, but soyabean oil imports could drop 20% due to highprices, according tto industry sources. RBD palm olein would make up thebulk of its palm oil imports, which came from leading producers Malaysiaand Indonesia in 2003. However soyabean oil imports from South America andother sources could drop from last year’s 126,000 tonnes, particularly ifPakistan does not receive aid or grants.

February 20 2004 - MALAYSIAN palm oil industry can increase the sales ofthe commodity by adding value to the product rather than selling it inbulk.

NEW DELHI, Feb 25 (Bernama) -- A.V. Birla Group of India is planning toexit from the rubber business in Malaysia, says a report in the financialdaily, the Economic Times, quoting senior Birla group executives.

February 25 2004 - MALAYSIA’S crude palm oil (CPO) futures prices cameclose to touching the RM2,000 mark at midday yesterday but lost its steamat the end due to profit-taking activities.

JAKARTA, Feb 25 Asia Pulse - The price of crude palm oil (CPO) in Jakartahit a record high of US$550 per ton in an auction on Tuesday. DahlanSurbakti, an official of the joint marketing office of state plantationcompanies, said reports of falling CPO supply from Malaysia and a scarcityin soybean supply to the international market triggered a surge in theprice. Surbakti said the soybean oil supply declined as a result of a longdrought in Argentina and Brazil. Malaysia and Indonesia are the largestand second largest producers of CPO in the world, respectively. (ANTARA)

February 21 2004 - MALAYSIA’S latest palm oil-related derivatives have thepotential to attract at least seven strong market makers to strengthen thenew hedging tool’s liquidity.

NEW DELHI, Feb 17 Asia Pulse - With a bumper oilseeds crop of around235,00,000 tonnes in the offing, India's edible oil imports have reportedan 8 per cent fall to 9,41,000 tonnes in November-October period from8,69,000 tonnes in the same period last year.