Monday, July 16, 2012

20120716 1047 Soy Oil & Palm Oil Related News.

ITS CPO export down 21.3% to 563,603 tonnes for the period of 1~15 Jul 2012.

VEGOILS-Palm oil gains on supply concerns, ends week lower
SINGAPORE, July 13 (Reuters) - Malaysian crude palm oil futures ended higher as concerns over tighter global oilseed supply came back into play, while traders were mostly relieved that China's gross domestic product data landed in line with forecasts.
The market shrugged off forecasts of weekend rain in parts of the U.S. Midwest, investors betting on lower soybean output after the U.S. Department of Agriculture cut yield estimates in its Thursday report.

India's June refined palm oil imports down from May-trade
NEW DELHI, July 13 (Reuters) - India imported 124,125 tonnes of refined palm oil in June, down nearly 25 percent from May and broadly in line with quantities expected according to the average of a Reuters poll, data released by a leading trade body showed on Friday.  
Total vegetable oil imports in June were 783,315 tonnes, down 12.7 percent from 896,921 tonnes in the previous month, the data from the Solvent Extractors' Association (SEA) showed.

Argentine soy harvest on target, down 20 pct yr/yr
BUENOS AIRES, July 12 (Reuters) - Argentina's 2011/12 soy harvest has come in at an expected 39.9 million tonnes, but 20 percent lower than the previous year's crop after a Pampas dry spell dashed early-season hopes of bumper crop, the Buenos Aires Grains Exchange said on Thursday.
Last year's soy take in Argentina - the world's top exporter of derivatives such as soyoil and meal - was 48.9 million tonnes, according to government data. The country's biggest soy crop ever was the 53 million tonnes collected in 2009/10.

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