Archived News

6/18/2004 CHEMICAL BUSINESS NEWSBASE - : Palm oil processors areincreasing capacity in Europe and the US as global demand for palm oilproducts increases. In the US, Loders Kroklaan (division of Malaysiancompany IOI Group) will increase processing capacity to 250,000 tonnes/yat Channahon, IL, and storage capacity in New Orleans, LA. In Brazil,Agropalma Group will invest R$1 M to increase palm oil processingcapacity, from 250 to 350 tonnes/day at Belem. The company plans toincrease exports to the US and Europe. In Rotterdam, the Netherlands,Loders Kroklaan has started construction of a 2500 to 3000 tonnes/day palmoil processing and fractionating unit. Also in Rotterdam, Malaysiancompany Kuok Oils and Grains (KOG) will invest EUR 25 M in a palm oilrefinery. In Zwijndrecht, the Netherlands, Unimills BV (subsidiary ofMalaysian company Golden Hope Plantations Bhd) is constructing a palm oilfractionation unit. Total palm oil refinery capacity, in the Rotterdamarea, is about 2 M tonnes/y.

June 21 2004 - THE Palm Oil Refiners Association of Malaysia will hold atwo-day course on refineries, crude palm oil purchasing, hedging,contractual and its operational aspects.

JAKARTA, June 14 Asia Pulse - The Indonesia Palm Oil Commission (KMSI)said China would not reduce imports of crude palm oil (CPO) andderivatives from Indonesia, despite plan by the Chinese government to slowdown economic growth.

6/15/2004 (Agra Europe) - EU rapeseed prices are likely to come underpressure in the coming weeks as growers in the bloc's top producers lookforward to harvesting what could be a bumper 2004 crop, according toindustry experts.

NEW DELHI, June 16 Asia Pulse - The government has been hit with demandsfor a hike in the import duty on refined palm oils so as to avoid a pricecrash.

NEW DELHI, June 14 (Bernama) -- Indian farmers may not go in forlarge-scale sowing of groundnut or soyabean this year if prices of edibleoils continue to decline in the international market, according to areport in the financial daily, Hindu Business Line.

IPOH, June 14 (Bernama) -- Malaysia has positioned itself as the world'slargest producer and exporter of palm oil last year, with revenuesamounting to RM27.7 billion but it is facing stiff competition fromIndonesia.

June 15 2004 - MALAYSIA’S replanting scheme is paying off now that crudepalm oil (CPO) prices are trading at about RM1,500 a tonne, compared withRM700 a tonne when the scheme was created in 2001.

June 14 2004 - MALAYSIA’S palm oil industry plans to deploy marketintelligence officers at all of the country’s embassies worldwide togather information on world edible oils and fats that can be used to trackkey market developments and plan future strategies.

KOTA KINABALU, June 5 (Bernama) -- The Sabah Environmental ProtectionAssociation (Sepa) has called on the palm oil industry in Sabah to adhereto proper maintenance of palm oil effluents to prevent environmentalpollution.

6/7/2004 - Saint Louis, Missouri... The American Soybean Association (ASA)is urging the U.S. Department of Agriculture (USDA) to more rapidlyundertake development of a national strategy for controlling andmitigating the potential for an Asian soybean rust infestation in thecontinental United States. Rust is a devastating disease with thepotential to cause enormous losses in annual U.S. soybean production,resulting in serious consequences for domestic industry, including thelivestock sector.

Brazil, Jun 8, 2004 (Gazeta Mercantil/SABI via COMTEX) --The BrazilianMinister of Agriculture, Roberto Rodrigues, estimates a fall of US$1bil inthe exports income of the soybean complex principally due to the downsizein the international prices of the product and possible renegotiations ofcontracts with China. The exports of soybean and derivatives, originallyestimated at US$10.5bil should be narrowed to US$9.5bil - up the US$8.1bilexported in 2003. Rodrigues also reviewed down the estimates for theagribusiness GDP, from 6% to 3% due to the expected crash in the Braziliangrains crop, from 130mil m tons to 120mil m tons.