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CPO price forecast to climb for rest of the year
CPO FUTURES HIT TWO-YEAR HIGH ON BULLISH SENTIMENT, STRONG EXPORTS
Positive growth for plantation sector, amid rising CPO prices
Global Stearic Acid Prices Climb Amid Palm Oil Shortages and Rising Production Costs
BIG-FIVE DEAL PUSHES WTO STATES CLOSER TO PACT
GENEVA, July 29 (Reuters) - World Trade Organisation states appeared toedge closer on Thursday to putting stalled global trade negotiations backon track after five core members agreed points in the hotly disputed texton agricultural reform.After hours of hard bargaining, the United States, the European Union,India, Brazil and Australia, representing a host of trading interests,together proposed changes to a heavily criticised first draft for a dealfloated by chief mediators."I welcome this agreement on agriculture amongst five key members. Thisis an important input ... and gives momentum to our efforts," WTODirector-General Supachai Panitchpakdi said.But he warned that an accord amongst the five, even if they speak for awide range of trade interests, could not guarantee the backing of theWTO's full 147-state membership.As if to underline his words, arguments continued to rage overindustrial tariffs just as differences were narrowing in agriculture,diplomats and trade officials said.Richer nations are pressing developing countries to open their marketsmore to industrial goods as the price of farm reform."We are seeing progress in most areas (of the WTO negotiations), but itis hard to report any progress on NAMA (non-farm goods)," said one WTOofficial.
BRAZIL 04/05 SOYBEAN EXPORT FORECAST CUT - ABIOVE
RIO DE JANEIRO, Brazil, July 29 (Reuters) - Brazilian 2004/05(Feb/Jan) soybean exports were revised down to 19.8 million tonnes, from20.2 million tonnes seen July 1, Brazil's Vegetable Oils IndustryAssociation (Abiove) said on Thursday.Soymeal exports were also put lower at 15.2 million tonnes in 2004/05,against 15.5 million previously, but soyoil exports were left at 2.7million tonnes.In a monthly report, Abiove said that soy product export receipts wouldfall slightly to $9.70 billion, from $9.87 billion seen previously. Butthey will be well above last year's $8.1 billion.The reduction reflects lower prices in recent months and tradingproblems with China, Brazil's main market.Soybean imports 2004/05 are now put at 400,000 tonnes, down from500,000 tonnes previously.Soybean and soymeal stocks at the end of 2004/05 were revised up to800,000 tonnes and 762,000 tonnes respectively, from 500,000 and 462,000tonnes seen in the previous report.Other soy data were unchanged, including 2004/05 soybeans productionand crushing which are still seen at 50.6 million tonnes and 29.8 milliontonnes respectively.Abiove's estimates are based on data from 88 to 90 percent of the soysector.
CPO seen at RM1,400-RM1,600
Tuesday July 27, 2004 - CRUDE palm oil (CPO) prices, which have been underpressure, are expected to hover between RM1,400 and RM1,600 per tonne,according to IOI Corp Bhd group executive director Datuk Lee Yeow Chor.
Felda's Land Development Success To Be Discussed A
LANGKAWI, July 28 (Bernama) -- Malaysia's success in managing oil palmplantations can be passed on to African nations as a significant lesson ineconomic and land development.
Felda signs R&D accord
Wednesday July 28, 2004 - FEDERAL Land Development Authority (Felda) isinvesting RM3mil over three years on joint research and development aimedat maximising the commercial potential of oil palm waste and palm oileffluent (POME).
Institute to produce skilled plantation workers pl
Tuesday July 27, 2004 - KUCHING: The Plantation Industries and CommoditiesMinistry is exploring the possibility of setting up a training instituteto produce a pool of skilled young Malaysians to work in the plantations.
Oilpalmworld To Diversify To Other Commodities - I
LANGKAWI, July 29 (Bernama) -- Oilpalmworld Sdn Bhd, a company involved inglobal palm oil trading, intends to diversify its services into othercommodities, should there be enough interest from traders.
Some palm oil in Britain found to contain carcinog
7/29/2004(EVENING MAIL - Birmingham Post and Mail Ltd.) - SHOPPERS arebeing warned over the dangers of buying a cooking oil which may becontaminated with an illegal dye that could cause cancer. Walsallenvironmental health officers fear some bottles of Golden Sun palm oil,which were found to contain the dye Sudan IV, have made their way intoshops in the borough.
Analysis of the Increases in China Domestic Oils P
24/07/04 ( China) - The domestic edible oil prices have risen rapidlysince the beginning of this week mainly due to the increases in prices ofpalm oil and refined soyoil. The grade 2 soyoil and rapeseed oil priceshave also risen, followed by the increases in demand. The internationalsoyoil prices have risen sharply recently while the edible oil importshave signaled to decline since July, followed by the reduction of stocks,and the demand has showed seasonal increases, and these are the mainseasons for the price increases. According to CNGOIC, the domestic palmoil and refined oil prices will continue to rise and the demand will speedup, further pushing up the prices.
