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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
Philippine June Coconut Oil Exports Down 41% On Mo
Manila, July 8 (Dow Jones) - Philippine coconut oil exports in Junereached only 50,054 metric tons, down 41% from month-ago levels onprevailing tightness in copra supply, the United Coconut Association ofthe Philippines said Thursday. One trader said there was little tradingactivity in the month of June, due mainly to scarce export supply."Only few buyers and sellers were out in the market last month," hesaid.The export volume in July is expected to improve with an expected risein copra supply in the third quarter of the year, the trader said."We expect (copra) supply to improve by the end of July, so we mightsee a higher export volume for the month," the trader added. Copra is thedried coconut meat from which coconut oil is extracted.Copra production this year is projected to reach only 2.4 milliontons, down from last year's copra output estimate of 2.5 million tons. Theprojected lower copra output this year is attributed to the biologicalstress of coconut trees following several years of bountiful harvests.
Feed exports prompt American Soybean Association t
WASHINGTON, July 2 -- The CITAC/ASDA Shrimp Task Force announced todaythat the American Soybean Association (ASA) has joined the Shrimp TaskForce to safeguard U.S. soy exports threatened by the shrimp trade case.The ASA is a membership-driven policy organization representing 25,000soybean farmers across the United States.
M'sia Wants Taiwan To Cut Import Duty On Oil Palm
TAIPEI, July 6 (Bernama) -- International Trade and Industry MinisterDatuk Seri Rafidah Aziz said that Malaysia has asked Taiwan to reduce the20 percent import duty on oil palm fibre which is used for orchid growingin the island state.
New plans drafted for palm oil trade in Thailand
1/7/2004 Bangkok Post - Strategic plans to develop the palm oil industryhave been drafted to increase the plantation area by at least 400,000 raia year over the next 25 years.
Philippine palm oil production no threat to coconu
7/6/2004 BUSINESSWORLD (PHILIPPINES) - The government's push to developthe local palm oil sector should not be seen as a threat to the coconutindustry, an agriculture expert said.
India's FTA With Thailand To Keep In View Its Farm
NEW DELHI, July 1 (Bernama) -- India would keep the interest of its oilindustry and oilseeds farmers in mind when signing the Free TradeAgreement with Thailand.
Palmis: Malaysia June Palm Oil Output At 1.17M MT
-- Palmis: Malaysia June Palm Oil Exports At 925,000 MT - Trade-- Palmis: Malaysia End-June Palm Oil Stocks At 1.2M MT - Trade
Russia buying bigger quantity of CPO
July 3 2004 - RUSSIA has started to enter the palm oil market in aslightly bigger way than usual following the activation of an exportcredit facility for the commodity.
US, South American Soy Exporters Seek Govt Pressur
Sao Paulo, July 5 (OsterDowJones) - Soybean exporters from Brazil, theU.S. and Argentina are demanding their respective governments pressureChina to stop arbitrarily restricting imports of their world-leadingoutput.Six groups representing soybean exporters sent joint letters to U.S.President George Bush, Argentine President Nestor Kirchner and BrazilianPresident Luiz Inacio Lula da Silva asking them to force China intochanging its policy of restricting trade by canceling contracts, banningindividual companies and imposing arbitrary and onerous trade rules, thusbreaking World Trade Organization agreements.Brazilian exporters are spearheading the initiative after Chinatemporarily banned local soybean imports from 23 companies in May and Juneafter finding extremely low levels of fungicide in a number of shipments.The ban has been lifted but exporters lost a lot of business and are stillawaiting payment on shipments sent."Unfortunately, these aren't the first cases in which they have triedto administrate the flux of trade through non-tariff barriers, which isprohibited by the World trade Organization," read the letter, seen byOsterDowJones.Both U.S. and Argentine exporters have previously been affected byChina's lack of transparency as the Asian giant routinely delays andcancels issuing of import permits.China is the world's main importer of soybeans. The U.S. Department ofAgriculture forecasts imports will reach 24 million tons in the year fromSept. 1.The letter specifically demanded that governments pressure China torescind new sanitary import rules, introduced July 1, which are much morestringent than international standards.It went to ask that the government obtain assurances that China willcease to use administrative restrictions to limit trade. If it shouldcontinue to do so, the government should consider lodging a complaint atthe World Trade Organization, it added.The letter was sent by Brazil's National Cereal Exporters Associationand the Brazilian Vegetable Oil Processors Association, by Argentina's OilIndustry Chamber and the Cereal Exporters Center, and the North AmericanExport Grain Association and the National Oilseed Processors Association.
