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CPO price forecast to climb for rest of the year
Positive growth for plantation sector, amid rising CPO prices
Global Stearic Acid Prices Climb Amid Palm Oil Shortages and Rising Production Costs
Malaysian palm oil extends losses amid China tariff fears, weak demand
US soybean exports to China are very impressive
26/10/04 - U.S. soybean exports continued to increase seasonally to 43.3Mn bu in the week ended Oct 24, thereof about 50% to China. Last week’stotal exports were slightly revised upward by 0.2 Mn bu to 36.5 Mn bu.Though below the year-ago level in the latest week, cumulative exportssince Sept 1 are well above the year-ago level at 142.5 Mn bu (up 9%).Soybean exports to China are very impressive. This is linked to the hugepent-up demand in China caused by the low imports and the resulting sharpdecline in Chinese stocks in preceding months.
Weather Uncertainties
22/10/04 - Weather conditions will be the key variable to watch in comingweeks and months. An improvement in rainfall is urgently required in allof Argentina and most of Brazil. Original planting intentions for wheatand sunflowers could not be accomplished in northern parts of Argentina,where the planting window has now closed.Some meteorologists indicate that prospects for rainfall have improved forthe next 1-2 weeks in Brazil, while others still indicate thatbelow-normal rainfall will continue to be experienced until at least Oct31. A so-called mini La Niña developed over the past six months and wasblamed for the dryness in most of Argentina, Brazil, Bolivia and Paraguayin the past five months.A moderate El Niño is likely to develop within the next 2-4 months,according to several meteorologists. 6 out of 11 internationalclimatological centres see the likelihood of such a scenario to developuntil March 2005. This is in contrast to the announcement of theAustralian Meteorological Bureau earlier this week, which pointed to thelikelihood that El Niño would weaken rather than strengthen. If an El Niñodevelops, it is expected to result in above-normal rainfall in Februaryand March 2005 in many areas of Argentina, Paraguay and Brazil. This wouldcreate ideal conditions for the Asian rust fungus to continue to spreadwhich could become a major factor to watch. It will be very important thatfarmers will be better skilled so that they can detect the fungus at anearly stage and immediately begin spraying before it is too late.The El Niño has global impacts: Several parts of Australia have recentlysuffered from very dry conditions. Rainfall was below normal duringJuly/Oct in most of Australia and in the Republic of South Africa.In Indonesia, rainfall improved in September and was above normal in mostareas of Sumatra and Kalimantan, but still below normal in Java andSula-wesi. Average precipitation in September was 11% above normal. Palmoil production prospects in Indonesia and Malaysia for 2005 and 2006 willto a large extent depend on whether El Niño conditions will develop and,particularly, how severe the El Niño and the accompanying rainfall deficitwill be in South East Asia.
World Rapeseed & Canola Production Higher Than Exp
22/10/04 - Rapeseed and Products 2004/05 world production of rapeseed &canola has turned out higher than expected hitherto and will be up sharplyby 3.7 Mn T. But the bearish effects of very high supplies (primarily inEurope) are largely offset by the unusually strong demand for rape oil. Itis mainly the additional demand for biodiesel which has boosted rapeseedcrushings to full capacity in the EU-25 since September. Still, rape oilprices continued to strengthen in Europe to around US$ 670 for nearestforward shipment. At that level they command a premium of around $ 110vis-a-vis soya oil. With mineral oil prices trading above US$ 50 perbarrel, biodiesel producers are enjoying a very profitable situation andvery high margins with current rape oil prices. It can be assumed that aslong as mineral oil prices stay so high, biodiesel production willcontinue at an unusually high level. With new capacities having come onstream, we realize that our previous demand estimates for rape oil in theEuropean Union need to be revised upward. We will publish the results ofour analysis - - including more details on European biodiesel capacitiesand prospects for 2005 - - in the special study Prices in the RapeseedComplex which we are currently preparing. (You are invited to contactinfo@oilworld.biz or visit us at www.oilworld.biz for further details.)The developments in sunflower oil and rape oil will raise world demand forsoybean oil and palm oil and will, in our assessment, contribute toappreciating prices in the medium term.
Joint panel meets after four-year lapse
Tuesday October 26, 2004 - KUALA LUMPUR: The Malaysia-Pakistan JointMinisterial Commission meets today after a lapse of four years andofficials from both sides have prepared extensively to make up for losttime.
Nov Holidays May Affect Palm Oil Output
10/26/04 (Oilmandi) - Are some concerns CPO supply may be disrupted inmid-November due to Deepavali and Idul Fitri holidays in Malaysia,Indonesia; official holidays only 2-3 days but workers typically away forlonger. "People are a bit concerned that production will be weaker becauseof all the holidays," says trader at Malaysia house; but lower productionwould be positive for palm oil prices.
Researchers to get a portion of IP
Tuesday October 26, 2004 PUTRAJAYA: The Government is drawing up a Bill toprovide incentives for researchers to devote their time to doing researchand development work with commercial potential.
"Halal" Food Makes Impact At Paris Food Fair
KUALA LUMPUR, Oct 23 (Bernama) -- 'Halal' ready-made food emerged as a newtrend at the just-ended International Food Products Exhibition in Paris,one of the world's biggest gatherings of food industry professionals.
Government to continue improving people’s living s
Oct 25, 2004 DEBAK -The Deputy Minister of Transport, Datuk Douglas UggahEmbas yesterday reassured the people, particularly those in rural areas,that the government would continue to draw up and implemented developmentprogrammes to uplift their standard of living.The development of oil palmand rubber plantations in various parts of the State were testimonies ofthe government’s commitment to upgrade the socio-economic status of ruralfolks, he said during a joint ceremony for the closing of an in-sitetraining on rubber tapping and handing over of a mini rubber estate tofive longhouses in the Ulu Rimbas near here, yesterday.
Exim Bank Of India To Expand Its Credit Line In Ma
MUMBAI, Oct 22 (Bernama) -- The Export and Import Bank of India (EXIMBank) is currently in talks with one of Malaysia's commercial bank toexpand its second credit line worth US$10 million (RM38 million), itschairman and managing director, T.C Venkat Subramaniam said.
