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Malaysia’s palm oil production up 3.51%
Malaysia's palm oil stocks hit 8-month high in May as output jumps
FGV may see earnings fall over 50pct annually from expanded SST
CIMB: India's duty cut, low stocks seen boosting Malaysian palm oil exports
Malaysian palm oil futures rally on Iraq
KUALA LUMPUR (April 08 2003) : Palm oil futures surged in Monday's latetrade to close sharply higher, fuelled by talk of Malaysia's participationin Iraq's food-for-oil programme.
Malaysian Palm Oil Prices Dives
KUALA LUMPUR, April 8 (Reuters) - Malaysian palm oil flew deep intonegative territory on Tuesday as players disagreed over the potential forthe market's exports under Iraq's food-for-oil programme, which bolsteredprices just a day ago.Talk on Monday that palm oil may benefit immensely from a race to getedible oil supplies into Iraq saw palm oil's key June contract surging 28ringgit and other futures contracts posting double-digit gains.But disagreement on Tuesday on what exactly the United Nationsprogramme meant for palm oil sales hammered the June contract down by 36ringgit to a close of 1,444 ($380) a tonne."If you ask me, people are just confused," said a trader. "It doesn'tmake sense for a market to go up so much a day before and fall this much aday later."Several palm oil traders told Reuters over the weekend that more than400,000 tonnes of palm-based vegetable ghee and 100,000 tonnes of palm oilwere poised to enter Iraq before May 12 as stipulated by a U.N. SecurityCouncil resolution.Others disputed the volume, saying Iraq's annual demand of vegetableghee was only 360,000 tonnes. "We are thus wondering how they could takeso much within the next few weeks," said one.But dealers specialising in sales to the Middle East said an untoldnumber of shipments to Iraq contracted by the United Nations had yet to bedelivered over the 12 years that Baghdad has been under sanctions.They said the world body was anxious now to get those contractsunderway."We know of contracts that were not honoured because prices weren'tright. Those deals may have to be renegotiated at today's prices," said anexport official at an oils brokerage in Kuala Lumpur that deals mainlywith the Gulf.A check on U.N.'s food-for-oil website,http://www.un.org/Depts/oip/index.html, on Tuesday indicated 13shipments of vegetable ghee already underway to Iraq, 44 similar contractsapproved under a priority list and 86 awaiting voyage.But tonnages for contracts were not specified. In physical trade ofcrude palm oil (CPO), contracts forApril and May saw sale offers close at 1,485 ringgit a tonne -- down 25ringgit from Monday -- against bids at 1,475 in both the southern andcentral regions.Business was only reported at 1,500-1,480 in the south and 1,490-1,480in the central region.(US$1 = 3.8 ringgit) - Reuters
Russia to raise sunoil exports
MOSCOW (April 08 2003) : Russia's sunoil exports may exceed imports bysome 10,000 tonnes in the 2002-03 season due to higher output and stabledemand.
Large world crop this year will mean low soy price
3/4/03 (Southwest Farm Press) - Despite very tight stocks, robustprospects for use and exports, and an expected decline in U.S. plantingsthis year, soybean prices for 2003 are projected at $5.10 per bushel,"below what we would have expected based on historical data," says PeterRiley, agricultural economist for USDA's Farm Services Agency.
UN earmarks 550,000 tonnes edible oil to Iraq
KUALA LUMPUR (April 07 2003) : The United Nations has asked suppliers tosend more than half a million tonnes of edible oils to Iraq as part of theoil-for-food programme for the war-hit country as fears over widespreadhunger grew, palm oil traders said.
Soyabean oil auction
FAISALABAD (April 06 2003) : Trading Corporation of Pakistan (TCP) willauction 10,000 metric tonnes of soyabean oil imported from USA under 416(b) programmes
Brazilian soyabean exports rise 111 percent
SAO PAULO (April 05 2003) : Brazil's March soyabean exports rose 111percent to 1.31 million tonnes from the same month last year, the TradeMinistry's foreign trade secretariat (Secex) said Friday.
Directive for master plan to cultivate coconut and
KARACHI (April 07 2003) - Sindh Minister for Planning and Development SyedShoaib Ahmed Bukhari has instructed Department of Agriculture and Planning& Development that a master plan be prepared for the cultivation ofcoconut and oil palm in the coastal areas of Sindh so that valuableforeign exchange being spent on import of edible oils could be saved.
India forecasts lower oilseed, grain output
NEW DELHI (April 05 2003) : India on Friday forecast a lower oilseeds andfood-grains output in 2002-03 after the country was hit by its worstdrought in 15 years following the failure of monsoon rains.
