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CPO price forecast to climb for rest of the year
Malaysian palm oil extends losses amid China tariff fears, weak demand
Positive growth for plantation sector, amid rising CPO prices
Global Stearic Acid Prices Climb Amid Palm Oil Shortages and Rising Production Costs
Thai edible oil producer developing premium cookin
3/4/2005 Thai Press Reports - Thai Vegetable Oil, manufacturer of A-ngoonsoybean cooking oil for almost 37 years, is now studying a variety ofnatural ingredients for use in a new premium product targeted athealth-conscious consumers, The Nation reports.
ASIA SOYBEAN OUTLOOK: Premiums To Fall; Weak Deman
3/2/05 - Premiums of soybeans delivered to Asia are likely to fall in theweek ahead as key consumers here continue to shun expensive U.S. soybeans.
Bursa M'sia To Introduce CTP For Derivatives Tradi
KUALA LUMPUR, March 3 (Bernama) -- Bursa Malaysia will introduce a CommonTrading Platform (CTP) for derivatives trading in the second quarter ofthis year to spur further growth of the local crude palm oil futuresmarket, its chairman, Tun Mohamed Dzaiddin Abdullah, Thursday.
Bursa: Common trading platform will boost derivati
Friday March 4, 2005 - BURSA Malaysia Bhd chairman Tun Mohamed DzaiddinAbdullah said the exchange’s implementation of a common trading platformby the second quarter of this year will boost the derivatives market.
Higher Fuel Prices Raise Production Of Vegetable O
KUALA LUMPUR, March 3 (Bernama) -- The rise in petroleum prices over thepast two years has increased the average production cost of vegetable oilto between US$20 and US$30 per tonne.
India Mills Upset Over Cut In Imported Soy Oil Bas
NEW DELHI (Dow Jones)--India's soy oil millers are upset about thefederal government cutting the base price on which the import duty of soyoil is calculated, a senior industry official said late Wednesday."The change in tariff value at this time when (a bumper) rapeseed cropis (being harvested) may send (the wrong) signal to oilseed farmers. Thismay motivate the farmer to shift from oilseeds to other competing crops,"saidRajesh Agrawala, chairman of the Soybean Processors Association of India,or SOPA.On Tuesday, India's federal government cut the base price on which theimport duty of soy oil is calculated to $485 a metric ton from $565/ton.Generally, the base price of imported edible oil is cut or hiked by thegovernment to keep the base price as close as possible to the prevailinginternational price of that edible oil.The current international soy oil price is around $550/ton-$560/ton, sothere is "no rationale in reducing" the base price, Agrawala said.The federal government doesn't provide explanations for cuts or hikes inthe base price of any imported edible oil.
Indonesia '05 CPO Output Seen 13.7M MT, Up 8% On Y
KUALA LUMPUR (Dow Jones)--Indonesia's crude palm oil production growthis expected to slow to 8% on year in 2005 from an estimated growth of19.8% in 2004, Milton Ng, managing director of the downstream agribusiness division of Indonesia's Sinar Mas group said Thursday.Ng projected Indonesia's 2005 CPO output at 13.7 million metric tons.Official Indonesian production figures for 2004 are yet to be issued bythe Indonesian epartment of Agriculture, but Ng estimated Indonesiaproduced around 12.7 million tons of palm oil in 2004, up from 10.6million tons in 2003.Speaking at the annual palm oil price outlook conference here, Ng saidhis 2004 estimate is based on data on the country's major producers, palmoil shipments and the utilization of milling and refining capacity."We know that in 2004, growth was extremely good, in the range of 15% to20%," Ng said. "I'm projecting we won't see anymore double digit growththis year."He said there were indications that Indonesian production fell inDecember and January on year while exports in January and February havebeen flat on year."This is the first time that we are seeing production growth flatteningout," he said.He attributed the slowdown in production to hot and dry weather inrecent months.Ng forecast Malaysian palm oil prices to range between MYR1,300 andMYR1,600/ton in the rest of the year.At 0800 GMT, the benchmark May CPO futures contract on Bursa MalaysiaDerivative was at MYR1,393/ton, down MYR11 from Wednesday's close.
KLIBOR Futures Dominated By Strip Trade At Close
KUALA LUMPUR, March 3 (Bernama) -- The three-month Kuala Lumpur InterbankOffered Rates (KLIBOR) futures contracts on Bursa Malaysia Derivativeswere dominated by strip trade amidst steady cash market Thursday, dealerssaid.
M'sia Is Philippines' Major Source Of Vegetable Oi
KUALA LUMPUR, March 3 (Bernama) -- Malaysia is the leading trading partnerof the Philippines in vegetable oil, said chairman of United CoconutAssociations of the Philippines, Henry T. Lao.
