|
CPO price forecast to climb for rest of the year
CPO FUTURES HIT TWO-YEAR HIGH ON BULLISH SENTIMENT, STRONG EXPORTS
CPO price strength could dissipate through end-2024, says BMI
Positive growth for plantation sector, amid rising CPO prices
Better playing field for refineries
Monday, May 05, 2003 - MALAYSIAN palm oil refineries will be able tocompete on a better playing field with other oil seeds in India followingthe Indian government's decision to reduce the tariff on refined, bleachedand deodorised (RBD) palm oil and palm olein, said Malaysian Palm OilAssociation (MPOA) chief executive M.R. Chandran.
Indon Palm Oil Board
Jakarta, May 7 (Dow Jones) - Indonesia's government and private industryhave jointly formed a commission to help generate reliable data on thecountry's palm oil industry as well lay the foundation for a palm oil boardexpected to begin operations in the next six months, the chairwoman of theIndonesian Palm Oil Commission said late Tuesday.Speaking at the launch of the commission, Delima Hasri Azahari said sheexpects the body to help lend some certainty to the palm oil market.Delima said there is a lack of reliable data on palm oil in the areasofdomestic production, consumption, exports and stocks. "We will startcollecting and releasing official data in the future."She said the newly formed commission is made up of 20 governmentofficialsand members of palm oil associations. It will report to the Minister ofAgriculture.Delima said palm oil associations represented in the commission includethe Indonesian Palm Oil Producers' Association, or Gapki, the Palm OilGrowers' Association, the Edible Oil Association of Indonesia and the OilPalmResearch Institute.The government is also planning to set up a palm oil board in the nextsixmonths, she said.In Malaysia, the largest producer and exporter of palm oil in theworld,the state-run Malaysian Palm Oil Board acts as the central agencyspearheadingthe development of the industry as well as disseminating information onproduction, exports and stocks.Indonesia, the second largest producer of palm oil, is a closecompetitorto Malaysia and is fast catching up because of abundant availability oflandand cheap labor.Indonesia's palm oil output is expected to reach 9.6 million tons in2003,up from around 9 million tons last year, according to data from Gapki.Malaysia produced 11.9 million tons of crude palm oil last year.
Palm oil sector to counter European smear campaign
Thursday, May 08, 2003 - THE local palm oil industry, with the assistanceof the Malaysian government, will be taking steps to counter the risinganti-palm oil and anti-tropical oil sentiment in northern Europe similarto the smear campaign by the American Soybean Association (ASA) in thelate 1980s.
India’s palm oil duty cut augurs well for Malaysia
5/5/2003 - MALAYSIA has an advantage over Indonesia to capitalise on India’s reduction of basic import duty on processed palm oil.
Industries minister may ask finance to withdraw GS
ISLAMABAD (May 07 2003) : The Minister for Industries and Production,Liaquat Ali Jatoi is likely to ask the Finance Ministry to withdrawGeneral Sales Tax on ghee and cooking oil and also give relief in otherlevies, official sources told Business Recorder .
MDEX to introduce new futures products
Wednesday, May 07 2003 - A NEW palm oil-based futures and two more bondfutures products will be in the market this year, promising investorslonger-term hedging options and a more liquid Malaysian derivativesmarket.
Indonesia to supply Russia with 40,000 tons of pal
JAKARTA, May 1 Asia Pulse - Indonesia plans to export 40,000 tons of palmoil to Russia in May-July under a countertrade agreement signed by theleaders of the two countries last week.
About 20 percent general sales tax may be imposed
KARACHI (May 03 2003) : About 20 percent general sales tax (GST) islikely to be imposed by the Federal Government on the import of oilseedsin the coming budget, it is learnt.
Sars delays Asean Vegetable Oils Club meeting
JAKARTA (May 06 2003) : An Asean Vegetable Oils Club (AVOC) meeting,scheduled for May 10 on the resort island of Bali, has been postponed dueto concerns over the deadly Sars virus, an industry official said onMonday.
