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Palm oil dips as India import tax concerns counter weak supply outlook
Palm oil production to exceed 19mil mt next year, says analyst
India's palm oil imports plunge as buyers shift to soyoil
Palm oil falls as August inventories rise more than expected
China, India Likely To Cut Imports Of CPO From Ind
MEDAN, July 15 Asia Pulse - China and India are expected to cut theirimports of crude palm oil (CPO) from major producers such as Indonesia andMalaysia in the next few months, chairman of the Indonesian Palm OilAssociation (Gapki) Derom Bangun said.
Chinese soya rules intact, despite Brazil agreemen
HONG KONG (July 16 2004): China, the world's top soya importer, said itwould stick to a zero tolerance policy on harmful fungicide carboxyl forsoya cargoes, despite an agreement with Brazil to scrap a ban on exportersbecause of the chemical.
Edible oil industry wants total excise duty exempt
7/15/04 (Oilmandi) India - The edible oil processing industry is feelingleft out due to the government’s apathy.
Record oilseeds output forecast this year
7/15/04 (Oilmandi) - The US Department of Agriculture (USDA) has forecasta record oilseed output of 379.1 million tonnes (mt) for 2004-05, aremarkable 43.2 mt increase over 335.9 mt estimated for 2003-04.A significant part of the global production increase will come fromsoyabean. Forecast of this crop is placed at a new high of 224.6 mt,versus weather and disease-affected 189.1 mt in 2003-04.All the three major origins the US, Brazil and Argentina are forecast toharvest record soyabean crop, with higher acreage driven by attractiveprices over the last eight months.
Sunflower Market News
7/15/04 (Oilmandi) - The expectation for the 04-05 U.S. sunflower crop isthat it will need to be rationed for both confections and oil types. Oldcrop confection prices increased last week and it appears that most of theoil-type needs are covered through the summer. The mandated labeling fortrans fatty acids is one crop year away. Some companies have already madethe switch to non-hydrogenated oils but there remain many that have not.The message to these food companies is that they need to start theplanning now to insure supplies in 18 months. Of the oils that can beutilized without hydrogenation, only sunflower and specialty canolas canincrease production. Cotton and corn oils are by-products of otherindustries. Consumer groups have pegged trans fatty acids as a healthhazard and have asked FDA to remove trans fatty acids from the ‘generallyconsidered safe’ status. Trans fatty acids have been compared to the ‘nicotine of the food industry’ implying that law suits are probable. It isassumed that this issue is only going to increase in importance.
CPO price expected to remain stable: GHope
12/7/04 - THE current crude palm oil (CPO) price level of RM1,450 pertonne is sustainable until the end of this quarter, said Golden HopePlantations Bhd (GHope) group chief executive Sabri Ahmad.
CPO seen to reach 13.6 million tonnes
MALAYSIA'S crude palm oil (CPO) production this year is forecast to rangebetween 13.5 million and 13.6 million tonnes, almost similar or slightlyabove last year's output of 13.4 million tonnes, said PlantationIndustries and Commodities Minister Datuk Peter Chin.
Experts Predict China's Edible Oil Market May Drop
ZHENGZHOU, July 13 Asia Pulse - Experts predict that with imports andstocks of soybean oil hitting record highs, the edible oil market in Chinamay remain stable and drop slightly in the near future.
Indonesia To Build Palm Oil Storage Tanks In China
JAKARTA, July 13 Asia Pulse - The government said it will support a planby crude palm oil producers to build crude palm oil storage tanks inChinese ports to facilitate sales of that commodity in that country.