20110121 1647 Soy Oil & Palm Oil Related News.

ITS CPO export up 9.74% to 852,607 tonnes for the period of 1~20 Jan 2011.
SGS CPO export up 0.1% to 799,846 tonnes for the period of 1~20 Jan 2011.

Indonesia to hike Feb palm oil export tax to 25 pct-sources
JAKARTA, Jan 21 (Reuters) - Indonesia may increase its palm oil export tax for February to 25 percent from 20 percent in January, after a rally in international prices, industry sources familiar with the matter said on Friday. 
The base export price for crude palm oil (CPO) is likely to be set at $1,194 a tonne in February, up from $1,112 per tonne in January, said one source in the industry ministry.

Soy product futures ended mixed, with soymeal bouncing in unison with the late upturn in soybean prices. Soyoil futures ended lower, slipping to a four-week low on spillover weakness from crude oil futures before a late rise in soybean prices helped trim the market's early declines, analysts said. Crude oil influences soyoil due to its use in making renewable fuels. CBOT March soyoil ended 0.43 cent, or 0.7%, lower at 57.26 cents per pound, and March soymeal traded $2.00, or 0.5%, higher at $385.30 a short ton. (Source: CME)

India min:no refined edible oil import duty cut now
NEW DELHI, Jan 20 (Reuters) - India has no immediate plans to cut import duty on refined edible oils, Trade Minister Anand Sharma said on Thursday, dampening market expectations there could be a duty cut to tame high food inflation.
India, the world's top edible oil buyer, allows duty-free import of crude varieties and imposes a 7.5 percent duty on refined variants.

Palm oil prices seen steady; green output a boost
JAKARTA, Jan 19 (Reuters) - Palm oil prices are unlikely to fall below current levels, while the knock-on effect of climate change will be increased interest in sustainable resources, the new secretary general of the Roundtable on Sustainable Palm Oil (RSPO) said.
The RSPO industry body of consumers, green groups and plantation companies, was formed in 2004 and aims to promote growth and use of sustainable oil palm products.