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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
CPO price strength could dissipate through end-2024, says BMI
Positive growth for plantation sector, amid rising CPO prices
Ministry Extends Due Date for Oil Palm Replanting
KUALA LUMPUR, Dec 21 (Bernama) -- The Ministry of Primary Industries hasextended the due date for oil palm replanting scheme to end of June 2002from Dec 2001.
Oilseed prices to see double digit increase next y
Financial Times, London,12/20/2001 : Prices of some soft commodities areabout to take off, according to the Economist Intelligence Unit (EIU). TheLondon-based research unit predicts double-digit increases in the price ofgrains and oilseeds next year and in 2003.
Palm oil to gain from price hike
Kuala Lumpur (Reuters)12/18/2001 - Palm oil may get a boost as globalsunflower seed shortage tightens the edible oils complex, Asian traderssaid today.
WWF M'sia Hails Keng Yaik's Comments on Oil Palm P
KUALA LUMPUR, Dec 14 (Bernama) -- The World Wide Fund for Nature Malaysia(WWF Malaysia) Friday expressed its full support to Primary IndustriesMinister Datuk Seri Dr Lim Keng Yaik's call to the oil palm industry toadopt more stringent and sustainable practices in developing newplantations.
Diversify to improve coconut farming, conference s
CHENNAI, INDIA (Business Line) Dec. 14. - MIXED cropping, increasingproductivity, on-farm processing, value added products diversification andmarketing are key to survival of coconut farmers and processors in thecompetitive environment, according to Dr P. Rethinam, Chairman, CoconutDevelopment Board (CBD) and Executive Director Designate, Asian andPacific Coconut Community, Jakarta.
India's Edible Oil Industry Views At Collaborative
NEW DELHI, Dec 13 (Bernama) -- India's edible oil industry is to explorethe possibilities of collaboration with Malaysian Palm Oil PromotionCouncil (MPOPC) in the field of technology transfer and joint ventures inpalm cultivation and processing.
India Likely To Import More Palm Olein From M'sia
KUALA LUMPUR, Dec 24 (Bernama) -- As the world's largest producer of palmoil, Malaysia has the potential to export more crude palm olein to India,said the immediate past president of the Solvent Extractors Association ofIndia (SEA) Sandeep Bajoria.
IVAN WONG COMMENTS ON MALAYSIAN PALM OIL
KUALA LUMPUR, Dec 11 - Our final estimate on CPO production shows anupward revision of 10,000 tonnes to 1.045 million tonnes. This representsa month-on-month decline of 95,000 tonnes or 8.4 percent. The upwardrevision reflected a much smaller than expected decline of around twopercent or less than 10,000 tonnes in East Malaysia. This compares with anestimated decline fo 12.5 percent in Peninsular Malaysia.Additionally, the oil extraction rate (OER) was somewhat better. Thiswas most evident in Sabah. Total production for the first 11 monthsamounted to 10.83 million tonnes. There is a fairly good chance the wholeof this year's output will reach 11.7 million tonnes. This would be860,000 tonnes or 7.9 percent higher than last year.Reflecting the upward revision in production, the final estimate onend-November stocks of palm oil is revised to 1.31 million tonnes. This is30,000 tonnes lower than a month earlier. This level of stocks is deemedmanageable, particularly as it marks the reversal of a rising trend with asubstantial drawdown expected at the end of this month. In contrast and inline with our projections, stocks of PKO maintained their uptrend andreached an all-time new record high of an estimated 370,000 tonnes or some15,000 tonnes more than October.Stocks had built up to this burdensome level following anunprecedented period of accumulation starting from March last year whenstocks amounted to 107,900 tonnes. We view the PKO stocks situation asworrysome although it may not be a matter of great concern to PK producersand crushers in terms of absolute prices and margins. It cannot be deniedthat anaemic export performance was the main cause of the stocks buildup.PKO exports in September-October fell to 82,500 tonnes from 111,000tonnes a year ago. This is not surprising given that domestic offtake ofPKO has reached saturation level. Offtake by the oleochemical sector inJanuary-September amounted to 606,000 tonnes or unchanged from the sameperiod last year. In the local market PKO price had been traded atincreasing discount to CPO - from an average of 10-23 ringgit in Octoberto 30-45 ringgit in November and 75 ringgit last week. Production of PKdropped 11 percent to around 288,000 tonnes in November.CPO futures price meanwhile displayed a whip-saw pattern in the pastthree weeks. The February contract gained 85 ringgit in the week endedNovember 23 but lost practically all of it the following week. Last weekit rebounded 72 ringgit to settle at 1,169 ringgit after posting anintraday high of ,1200 ringgit on Friday. The gains would have been muchmore had the market not reacted bearishly to India's raising of the tariffvalues on palm oil on Friday afternoon.The December 7 announcement of new tariff values came eight days afteran official from the Finance Ministry denied to a wire service thatchanges were forth coming. Speculation and rumours of a revision were notunexpected considering the last revision on October 9 was made somenine-and-the-half weeks after the introduction of tariff values on palmoil on August 3.The latest values (previous in brackets) in US$/MT are: CPO 314 (286),RBDPO 341 (295), RBD OLN 349 (307) and Crude OLN 334 (298). As we had saidpreviously, Indian authorities shoud avoid generating market uncertaintiesand confusion. It is left to be seen whether the Central Board of Exiseand Customs has settled down to reviewing and revising tariff values on afixed periodic basis. The market is also keen to know the base period usedin determining the values. Perhaps it is too much to expect tranparencyand good governance. The latest tariff values raise the import dutiespayable by $18.20 (for CPO) to $42.50 (for RBD PO).
China set to finish palm oil quota, raise imports
KUALA LUMPUR, Dec 11 (Reuters) - China will use up all its palm oil quotain 2001 to make way for huge imports next year following its entry to theWorld Trade Organisation (WTO), traders said on Tuesday.The world's most populous nation is set to import 2.4 million tonnes ofpalm oil in 2002, up from this year's 1.4 million tonnes, as requiredunder the terms of joining the WTO.China, which formally entered the world body on Tuesday, buys palm oilmainly from Malaysia and Indonesia, the world's largest producers."There is nothing much left on the quota. I last heard some 30,000-40,000tonnes were still available," said one trader in Kuala Lumpur.Some traders say China holds the trump card as to whether Malaysia's crudepalm oil futures
