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MPOB: Malaysia urged to diversify palm oil markets amid US tariffs
Palm Oil demand from China and India expected to rise as prices become competitive, says MPOC
CPO Futures End Lower On Strong Output, Rising Stock Concerns
Palm oil stocks expected to climb 15pct in May on increased output
MALAYSIA'S KIM LOONG IN JOINT VENTURE TO BUILD LAB
KUALA LUMPAR, Oct 14 Asia Pulse - Kim Loong Resources Berhad (KLRB)announced Wednesday that it had entered into a joint venture with Dr GeePing Tou to cooperate on the construction of a Laboratory Plant.
MALAYSIAN PLANTATIONS SECTOR REMAINS 'UNDERWEIGHT'
KUALA LUMPUR, Oct 14 (Bernama) -- OSK Securities said palm oil plantationstocks remain "underweight" in its view as it believes the outlook for theprice of crude palm oil (CPO) remains bearish."The CPO price could stage a rebound during the upcoming lowproduction season... However, so long as (production) levels remain above1 mln mark, (the sector's) ability to sustain a price recovery remainsquestionable," OSK said in a research note.OSK said the CPO price was at 860 rgt per ton when the inventory levelwas above 1 mln ton mark in Oct 2001. This is 59 pct below prevailingmarket price, it said."This indicates much of the expectation of strong demand due toChina's imports could have been discounted. We are also of the opinionthat the El Nino factor is overhyped, given that a mild El Nino will nothave a negative impacton production," it said.OSK said it also maintaining its "neutral rating" on the plantationsstocks it covers as they trade at OSK's fair values for them or close tofair values.At 10.29 am, PPB Oil was down 0.02 rgt at 3.36, IOI Corp down 0.10 at9. 15, Golden Hope down 0.02 at 4.00, while Kuala Lumpur Kepong wasuntraded.(1 usd = 3.8 rgt)
CPO expected to stay above RM1,400 for next 6 mths
The Edge Daily - Oct 13 6:33 AM - Crude palm oil (CPO) prices are expectedto stay above RM1,400 per tonne for the next six months given the gooddemand for the commodity and low supply in the first quarter of next year,Golden Hope Plantation Bhd group chief executive Datuk Sabri Ahmad says.
Kutch emerges India's edible oil hub
BS Regional Bureau in Ahmedabad | October 13, 2004 11:54 IST - Edible oilcompanies across the country are setting up their units in Kutch to availof the tax holiday announced by the Central government. Centre hadannounced the tax holiday after the region was hit by a devastatingearthquake in January 2001.
Malaysia Cash Palm Oil Flat; Demand Slow
10/12/04 Oilmandi - Malaysian cash palm oil mkt little changed as demandremains slow; Nov RBD palm olein offered unchanged at $417.50/ton with notrades reported so far. Locally delivered Oct CPO offered up MYR5 atMYR1,480. Traders
MARKET TALK
13/10/04Palm Oil Discount Has Room To Widen(Dow Jones)--Narrow discount to soyoil suggests further downside roomfor palm oil prices; main product RBD palm olein at $50-$60 below soyoilcurrently. Unless discount widens back to around $100, may be difficultfor palm oil exports to match Sep levels; strong Sep demand largely due tohefty discount at that time, traders say.
New PPB Oil Palms MD a true blue plantation man
Thursday October 14, 2004 - ALTHOUGH appointed PPB Oil Palms Bhd managingdirector just two months ago, Khoo Eng Min is no stranger to PPB group andthe oil palm industry.
PPB Oil looks to expand Indon estates
Thursday October 14, 2004 - PPB Oil Palms Bhd plans to aggressively expandits oil palm plantations in Indonesia while consolidating its activitiesin east Malaysia, said newly appointed managing director Khoo Eng Min.
Brazil 04-05 Soy Crop Only 1% Planted On Lack Of R
11/10/04 SAO PAULO (Dow Jones)--Brazilian farmers have planted just 1% oftheir potentially record 2004-05 (October-September) soybean crop due to alack of rain in the center-west region, local agricultural consultancyCeleres said Monday.At the same point last year farmers had planted 3% of their crop.Isolated rainfall in Mato Grosso, the main producing state and alsothe first to plant, were insufficient to sustain soy planting, said aweekly report.However, weather forecasts indicate heavier rains in these areas overthe next week, it added.Celeres estimates Brazilian soybean output at 64.2 million metrictons, some 26% higher than last season as yields return to normal.Farmers in Mato Grosso plant in early October to allow time for asecond corn or cotton crop. This practice also occurs in the states ofMato Grosso do Sul, Goias, Parana and Rio Grande do Sul, although weatherconditions have not allowed planting there this year.The Brazilian soybean season typically picks up pace in the secondhalf of October.Sales of Brazil's 2003-04 crop moved forward two percentage pointslast week and now encompass 80% of the crop. But sales remain well behindlast year, when 89% was sold and a five-year average of 98% sold.Producers were forced to sell with many harvest costs coming due onOct. 15, said the report.The forward soybean sales market was extremely quiet this week. Only9% of the 2004-05 harvest has been sold, compared with 41% at the samestage last year.With sales of this year's and next year's crop so far behind schedule,farmers are worried how they will finance the next season, said Celeressoy analyst Anderson Galvao Gomes.Brazil is the world's No. 2 producer and exporter of soybeans.
