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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
Govt may cut import tariffs on palm and soya oils
8/26/04, INDIA (Oilmandi) - The Centre is considering cutting base importprices of palm oils and crude soya oil to control record high inflation,officials said. Inflation surged to a new 3-1/2-year high of 7.96% in theweek ended August because of rising fuel and commodity prices, which havetracked global trends.
India Edible Oil Prices May Rise On Truckers Strik
NEW DELHI (Dow Jones)--India edible oil prices are expected to inch upover the next month because of supply disruptions amid a truckers'strike and later-than-usual harvesting of the oilseeds crop."Right now the truckers' strike has not led to sharp rise in edibleoilprices, but if the strike prolongs for more than a week, it could lead toprice increases in consuming centers," said Atul Chaturvedi, vicepresident of Adani Exports, one of India's biggest trading houses.Chaturvedi said the strike by truckers has led to imported edible oilconsignments being stuck at ports, but added there are enough inventorieswith most traders to tide over the next few days.Traditionally, the country depends more on imported edible oils duringAugust and September as edible oil from the new crop only starts coming inby September.Any disruption in the supply chain therefore, is a concern in duringthis period.India annually imports around 5 million tons edible oils, of which 74%is palm oil from Malaysia and Indonesia.India's truck operators started a strike Saturday, protesting the levyof a new service tax on them. Initial talks between transporters and thegovernment haven't been successful.Earlier this week, truck operators said they are prepared to stay offthe roads until the government meets their demands.Groundnut oil prices were quoted around 47,800 rupees a metric ton($1=INR46.34) Wednesday, compared with INR47,600/ton last month. Soyoilclosed at INR46,800/ton Wednesday, compared with INR45,800/ton a monthago.
Malaysia's Premium Nutrients aims for 10% growth o
8/26/2004 KUALA LUMPUR -- Pioneer oils and fats manufacturer, PremiumNutrients Bhd, expects to achieve about 10 percent growth in turnover frominvestment in European Union (EU) countries in the next three to fouryears, says its group managing director P.N. Agarwal.
MPIC SEEKS MORE FUNDS UNDER 2005 BUDGET
PUTRAJAYA, Aug 26 (Bernama) -- The Ministry of Plantation Industriesand Commodities (MPIC) is seeking for more funds under the 2005 budget inorder to provide better incentives for the forest plantation industry.The Budget will be tabled this Sept 10."The government has already given incentives, but because the longgestation period for the forest plantations, we have to look at whatincentives that can attract investors," he said at a media briefing heretoday on his impending mission to Sao Tome & Principe."What we are looking into is actually to provide more incentives forforest plantations of rubber."He added that the ministry was also seeking the government's approvalto give RM1 billion for the downstream activities of palm oil."I think we have been one of the main contributors to the exportearnings of the country. Last year, the commodities contributed RM59.5billion, with palm oil alone contributing RM28 billion," he added. --BERNAMA
Edible oil importers find DGFT portion hard to gul
8/25/04 INDIA (Oilmandi) - The Directorate-General of Foreign Trade(DGFT) has been hauled to court by several corporates over irregularitiesin the allotment of quota for importing edible oils at concessional duty.
MPOB SAWIT INFO-SMS 'TRIAL RUN'
1. http://161.142.157.2/databank/sms/smscorp.htm
Malaysian Investors Eye Oil Palm Plantations In Su
JAKARTA, Aug 24 Asia Pulse - Malaysian investors are studying cooperationwith state-owned plantation company PTPN XIV to build oil palm plantationsin Sulawesi.
Regional snack food maker launches zero-trans fat
8/24/2004 , KENNESAW, Ga. /PRNewswire/ -- Wise Foods announces WiseChoice(R), the company's first line of all natural healthy snacks. WiseChoice Potato Crisps and Soy-Potato Crisps have no trans fat orhydrogenated oils, and no artificial flavors and colors. All of theproducts in the Wise Choice line are baked, have 70% less fat thantraditional potato chips, and have just 110 calories per serving.
UK Government Faces Legal Threat Over Palm Oil Inv
Aug 16 2004 - The British Government stands accused of damaging theenvironment and polluting watercourses in Papua New Guinea, as well as theabuse of workers' rights, in a letter sent by landowners on the island tothe International Development Secretary Hilary Benn. Working with Friendsof the Earth, the local land owners are calling for compensation for thedamage done by Government-funded palm oil plantations on the island.
