Archived News

21 January, 2002 (Business Times) - A UNITED States-based publicrelations company will be appointed next month to promote and maximise theuse of palm oil and byproducts from oil palm trees for the internationalmarket.The company, Arthur De'Little International, will be assigned to list downnew discoveries related to the oil palm products and find potentialcompanies that could develop end-products.The products will include those which use the oleochemical derivativesfrom the palm oil and the biomass which is made from the trunks, frondsand empty fruit branches of the trees.Primary Industries Minister Datuk Seri Dr Lim Keng Yaik said the NationalEconomic Action Council had discussed the appointment of the company withthe Ministry on Saturday after it (NEAC) met the company's representativesrecently.Dr Lim said details of the terms and conditions of the appointment wouldbe disclosed after the agreement was signed in two weeks.He said most of the new discoveries made by the Palm Oil ResearchInstitute of Malaysia were not being utilised or commercialised.For example, he said, only two companies were involved in the productionand utilisation of fibreboard from oil palm biomass even though thecountry produced between 30 million and 50 million tonnes of theby-product annually.He said the Government also planned to promote the oleochemicalderivatives in China and other countries after it had been succesfullydeveloped and widely used in branded cosmetics and toiletries in Europeand the US.He said the Government was seeking to diversify the use of palm oilproducts after the commodity price plunged to as low as RM670 per tonne inFebruary last year."In the past two years the price of crude palm oil had several timesfallen below the production cost and that had severely affectedsmallholders," he told reporters after launching a free health-screeningprogramme for residents of Kampung Baru Ayer Tawar, Ayer Tawar in Perakyesterday.He said the new approach was needed to maintain the price of the commodityafter it had stabilised to between RM1,200 and RM1,300 per tonne in thepast few months.Price stability came about after the Government introduced severalmeasures which included requesting power generating companies to use palmoil as combustion fuel and encouraging replanting of oil palm trees amongsmallholders and estates.

KUALA LUMPUR, Jan 12 (Bernama) -- Total palm oil stocks in the countrydropped 6.27 percent to 1.213 million tonnes in December last year from1.294 million tonnes in November, the Malaysian Palm Oil Board (MPOB),said.

KUALA LUMPUR, Jan 17 (Bernama) -- Palm oil, the "golden crop" of Malaysia,will contribute to a better foreign exchange for the country in 2002 asthe commodity is currently enjoying better price compared with prices lastyear.

KUALA LUMPUR, Jan 15 (Bernama) -- The Malaysian Palm Oil Promotion Council(MPOPC) is looking at the possibility of opening another office in Chinawith the latter's entry into the World Trade Organisation (WTO). "Ifthings work out, we would certainly want to see another office, perhaps inShanghai. This is something we are working on," said its chief executiveofficer, Datuk Haron Siraj.

BINTULU, Jan 16 (Bernama) -- Malaysia, trying to make it big in the worldof container shipping, last year handled a total of 7.3 million TEUs(20-foot-equivalent units) through its various seaports, according tolatest official figures.

PULAU PINANG, Jan 16 (Bernama) -- Producers of power from renewable energysources such as solar and biomass have been urged to produce more poweramounting to 10 megawatt to help the government reach its target of powergeneration from new energy sources at between 500 MW and 600 MW or fivepercent more in the next four years.

KUALA LUMPUR, Jan 11 (Bernama) -- Sri Lanka Rubber Research Insititutedirector Dr L.M.K Tillekeratne says his comments published early this yearthat replanting rubber estates with oil palm without serious scientificstudy could damage the environment was only applicable to the Sri Lankasituation.

15 January, 2002 (Business Times) - BIG ships are still unable to collectcrude palm oil from Belawan port in Indonesia, forcing some vessels todivert to Malaysia as efforts to remove a sinking dredger move at a snail’s pace, traders said yesterday.

WASHINGTON, Jan 14 (Reuters) - U.S. Agriculture Department said on Mondayfavorable weather in key crop-growing regions has positioned Argentina toproduce a huge soybean harvest."(Argentina's) weather pattern to date has been nearly ideal, supportingrapid growth and development of the crop," USDA's Foreign AgriculturalService said.Last week, USDA projected 2001/02 soybean crop at a record 42.5 milliontonnes, up 1 million tonnes from December's estimate. USDA said somesoybean-growing regions received below average rainfall from Octoberthrough December, "but moisture accumulations have kept pace with orexceeded crop requirements to date."Areas of concerns are limited to western Santa Catarina and Rio Grande doSul. USDA said rainfall was needed in these areas to prevent crop stress.On Monday, worries about dry Brazilian soy crop weather boosted soybeanfutures at the Chicago Board of Trade. Soybean futures for March deliveryclosed up 3-3/4 cents at $4.46-3/4 per bushel.Independent Brazilian forecaster Somar forecast lingering dry weatheracross Brazil's southern soybean growing region. However, rain could reachRio Grande after Jan. 22, Somar said. In Parana, another southern state,rain was expected at the end of the week, while rains were seen falling inthe center-west, Somar said.

JAKARTA, Jan 15 (Reuters) - Indonesia's Trade and Industry Ministry saidthe base price for crude palm oil (CPO) and its by-products would remainunchanged for another month. "There's no change. It is extended becausethere's no significant change at the international market compared tolast month," an official at the ministry told Reuters. The current baseprice, used to calculate export taxes, will remain valid until February12.The country currently imposes a three percent tax on CPO and palm kerneland a one percent tax on refined, bleached and deodorised (RBD) palm oil,RBD palm olein and crude olein. Indonesia levies the tax to control theflow of palm oil exports, which usually rise sharply when the rupiahweakens and international prices increase.The rupiah was quoted at 10,390/10,400 against the dollar by 0400 GMT.The following table shows the base prices for palm oil and itsby-products:

KUALA LUMPUR, Jan 14 (Bernama) -- The Malaysian commodity industry needs atotal restructuring that would benefit the smallholders, said PrimaryIndustries minister Datuk Seri Dr Lim Keng Yaik.

Tuesday, January 15, 2002 (The star) - MALAYSIA External Trade DevelopmentCorp (Matrade) is organising Malaysia’s participation in the 35th CairoInternational Fair (CIF 2002) in Egypt from March 20–29.Matrade said in a statement that it was also organising the 30th TripoliInternational Trade Fair (TITF 2002) for Malaysia from April 2–12 inLibya.At both fairs, Malaysia’s pavilion will feature a diverse range ofproducts and services, including automotive parts and components, consumerelectrical and electronic products, food products and beverages, palm oil,office furniture, machinery and transport equipment.Others to be featured are pharmaceutical and beauty products, computer andtelecommunications equipment, chemicals, rubber and plastic products,construction and engineering, education, medical and healthcare.Matrade said Malaysia’s participation was aimed at diversifying thecountry’s exports to new potential markets in North Africa, which includedAlgeria, Libya, Morocco, Sudan, Tunisia and Western Sahara, besides Egyptand Libya.It said participation in these trade fairs would provide opportunities forMalaysian companies to reach out to 183 million people in the region, withan average gross domestic product (GDP) of RM18,365 for the year 2000.Malaysia’s total trade with the North African region in 2000 amounted toRM1.3bil, of which 85% or RM1.1bil came from Malaysia’s exports to theregion.“The potential is still enormous as this export value is only 0.52% to theregion’s total import of RM211.3bil in 2000,” Matrade said.Companies interested in participating in the exhibitions can contactMatrade’s Ishak or Silmi at 03-2694-7259. — Bernama