ITS CPO export down 17% to 526,407 tonnes for the period of 1~15 Mar 2011
SGS CPO export down 14.7% to 520,463 tonnes for the period of 1~15 Mar 2011.
US soy-product futures end mixed, with soymeal recovering from prior declines after soybeans stabilized. The exhaustion of selling pressure and a lower-than-expected NOPA February crush number that probably caused traders to have ideas that the soybean availability is low amid some firm processor bids underpinned soymeal, says Mike Zuzolo, president Global Commodity Analytics and Consulting. Soyoil futures ended lower, but did trim losses on a late recovery in crude oil. CBOT May soymeal settled 1.6% higher at $355.50/short ton and May soyoil ended down 0.9% at 55.38c/pound. (Source: CME)
US soybean futures end higher after early selling pressure eases as risks posed by uncertainty in global markets and the threat of reduced demand from Japan appeared to be priced into futures, analysts say. Commercial buying near session lows enabled futures to bounce, shrugging off weakness from lower than expected February crush rates, prospects for larger South American crops and increased Brazilian harvest pressure, a CBOT floor broker said. However, advances were limited, as traders remained concerned about further shedding of risk. CBOT May soybeans settled 5 1/2c or 0.4% higher at $13.40 a bushel. (Source: CME)
India February Edible Oil Imports Fall 20% To 538,172 Tons (Source: CME)
India's edible oil imports in February dropped by a fifth from a year earlier because of higher oilseeds production and more crushing locally due to rising overseas demand for oilmeals. Edible oil imports during the fourth month of the marketing year that began Nov. 1, 2010, slipped to 538,172 metric tons from 671,293 tons, the Solvent Extractors' Association of India said Monday. Total imports in the November-February period fell 12% to 2.6 million tons. Vegetable oil imports, which include non-edible oils, declined 21.5% to 549,881 tons in February, the trade body said. The country's total vegetable oil imports will likely fall to 8.7 million tons to 8.8 million tons this year from 9.2 million tons last year, B.V. Mehta, executive director of the association, said. India is the world's second-largest vegetable oil importer after China, and meets more than half its requirements through imports. The country buys palm oil mainly from Indonesia and Malaysia, and soyoil mostly from Brazil and Argentina.
Imports in February were lower because a rise in oilseed crushing to meet export demand for oilmeals also boosted local edible oil output. India's oilmeal exports in February more than doubled to 703,400 metric tons from 329,448 tons. Also, India's total oilseed output this marketing year is likely to rise 11.8% to 25.44 million tons, according to the Central Organisation For Oil Industry and Trade. According to data released by the Solvent Extractors' Association, crude palm oil imports declined 29% to 276,436 tons in February, while refined, bleached and deodorized palm olein imports fell 31.5% to 89,849 tons. Sunflower oil imports decreased 21% to 37,237 tons, but soyoil purchases rose 47% to 129,640 tons, the trade body said. As of March 1, total edible oil stocks at ports were estimated at 630,000 tons. This comprises 380,000 tons of crude palm oil, 100,000 tons each of RBD palm olein and soyoil, and 50,000 tons of sunflower oil.
Indian companies have also entered into contracts to import another 900,000 tons of edible oil, the trade body said. Imports of non-edible oil--used to make soaps, detergents and for other industrial purposes--declined 60% in February to 11,709 tons.
Palm oil falls to 3-1/2 mth low after Japan quake
JAKARTA, March 14 (Reuters) - Malaysian palm oil futures fell to a 3-1/2-month low on Monday, reversing early gains, as investors sought safe-haven assets after last week's massive earthquake and tsunami in Japan, and easing unrest in the Middle East weighed on crude oil. "There has been a lot of downward pressure on commodities," said a palm oil analyst.
India's Feb vegoil imports down on high local supply
NEW DELHI, March 14 (Reuters) - India imported 549,881 tonnes of vegetable oils in February, down by about a fifth from a year ago, trade data released on Monday showed, a fall largely due to higher crushing of domestic oilseeds following a normal monsoon.
India, the world's No. 1 importer of cooking oils, buys mainly palm oil from Indonesia and Malaysia and a small quantity of
soyoil from Argentina and Brazil.
China 2011 soybean imports seen up 9.5 pct, exceed 60MT-report
BEIJING, March 13 (Reuters) - China's soybean imports may exceed 60 million tonnes this year, a jump of at least 9.5 percent from a year ago, and push up global prices, a senior agricultural official said in a report at the weekend.
China's strong demand, along with the willingness of farmers in the United States to grow more corn instead of soybeans due to ethanol fuel demand, will send soybean prices higher, Chen Xiwen, deputy head of the central government's rural work leading panel, told the official Guangzhou Daily.
Argentine soy stays in good shape due rains -gov't
BUENOS AIRES, March 11 (Reuters) - Most of Argentina's 2010/11 soybean crop is developing well due to ample soil moisture after plentiful rains in recent weeks, the Agriculture Ministry said on Friday in a weekly crop progress report.
Argentina is the world's No. 3 exporter of soybeans and the top supplier of soyoil and meal, and heavy rainfall since mid-January has brightened the outlook for the oilseed.
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