ITS CPO export down 10.4% to 1,110,672 tonnes for the period of 1~28 Feb 2011.
SGS CPO export down 9.1% to 1,092,620 tonnes for the period of 1~28 Feb 2011.
Soy-product futures rebound, with soyoil briefly rallying to its exchange-imposed daily trading limit. Strong international demand for vegoil and optimistic outlooks for increased soyoil usage for biodiesel provided support to rekindle speculative buying interest, analysts said. Soymeal recouped prior declines in unison with the rest of the soy complex. CBOT May soyoil ended 4.2% higher at 57.58c/pound and May soymeal rose 2.8% at $364.70/short ton. (Source: CME)
Veg oils set to reignite after crude surge: Maguire
CHICAGO, Feb 24 (Reuters) - The prices of edible oils look set to strengthen in the days ahead after crude oil burst to its highest levels in more than two years on the back of supply concerns sparked by unrest in major oil exporter Libya.
Crude is a well-established leader of edible oil prices, as biodiesel demand typically firms in response to higher fossil fuel prices. But within the edible oil arena, Malaysian palm oil looks set to outperform soybean oil and canola (rapeseed oil) on the back of tight palm inventories as well as the prospect for higher soy and rapeseed output this coming year.
Palm oil bounces on bargain hunting after sharp declines
KUALA LUMPUR, Feb 25 (Reuters) - Malaysian palm oil futures rose as much as 2.5 percent after sharp sell-off the previous day as investors snapped up bargains although concerns lingered over Middle East unrest slowing economic growth.
"After the sell-off investors are quite uncertain about the market tread. It is likely to content between 3,400 to 3,500 ringgit a tonne," said a trader with foreign brokerage.
Argentine exchange ups soy outlook to 48.8 mln T
BUENOS AIRES, Feb 24 (Reuters) - Argentina's 2010/11 soy production is seen rising to 48.8 million tonnes, up from the previous forecast for 47.0 million tonnes, due to improved weather, the Buenos Aires Grains Exchange said on Thursday.
The exchange said the crop's prospects had improved since mid-January due to much-needed rain after the La Nina weather phenomenon created dry conditions late last year.
Indonesian palm output to slip this yr, grow slowly-IPOC
JAKARTA, Feb 25 (Reuters) - Palm oil output from top producer Indonesia will slip nearly 4 percent this year to 21 million tonnes because of heavy rains, and then grow 3 percent each year until 2015 assuming current weather patterns continue, an industry official said on Friday.
Weather forecasters predict a wet 2011 after unusually heavy rains in recent months have wreaked havoc on plantation crops in Indonesia, and lower palm supply would support the regional market along with higher oil prices.
India's vegoil imports shrink on bigger domestic supply
NEW DELHI/KUALA LUMPUR, Feb 25 (Reuters) - India will process 12 percent more domestic oilseed crops into cooking oil this year, trimming imports of edible oil by up to 5 percent in the first such slowing in five years, easing global prices and blunting food-driven inflation.
India, the world's top buyer of vegetable oils, appears to be following China in using cheaper oilseeds and cutting imports of Southeast Asian palm oil and Latin American soyoil to feed its population of more than a billion.
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