ITS CPO export up 10.5% to 801,463 tonnes for the period of 1~15 Nov 2011.
SGS CPO export up 11.6% to 802,917 tonnes for the period of 1~15 Nov 2011.
Soybeans (Source: CME)
US soybean futures end higher for second consecutive session, driven by speculation of fresh export demand from China and technical buying. Traders are hopeful China will aggressively source soybeans near term, similar to early October when China was an active buyer at similar price levels, analysts say. Technical buying added support, as traders viewed futures as oversold after prices establish near-term lows last week. Firm cash prices aided the gains, allowing futures to remain immune to weakness in external markets that weighed on corn and wheat prices, analysts add. CBOT Jan soy ended up 2 3/4c at $11.78 1/4/bushel.
Soybean Meal/Oil (Source: CME)
Soy-product futures end mixed, with soyoil climbing on spillover support from soybeans and fundamentally bullish inventory data in NOPA's October soy-crush report. But soymeal ended lower, succumbing to pressure from soyoil/soymeal spreading and signs of slow domestic meal demand in the NOPA report. CBOT December soyoil rises 0.24c to 51.22c/pound while December soymeal dropped 30c to $299.20/short ton.
India Sept vegoil imports up 11.6 pct m/m
NEW DELHI, Oct 14 (Reuters) - Festive demand and lower global prices drove up India's monthly vegetable oil imports by more than 11 percent to 912,341 tonnes in September, a leading trade body said on Friday, higher than the average forecast in a Reuters poll.
But the imports in September were 5 percent lower compared with the year-ago period, said the Mumbai-based Solvent Extractors' Association of India in a statement.
India could burn fingers with aid to domestic palm refiners
KUALA LUMPUR/NEW DELHI, Oct 7 (Reuters) - India's plan to hike a domestic levy on refined palm oil, designed to protect its refiners from cheaper exports by top palm oil producer Indonesia, will backfire in the absence of rival suppliers to meet the appetite of the south Asian nation.
The world's top edible oil buyer could end up spending more on Indonesian crude palm oil , which has risen as high as $84 over benchmark Malaysian futures after Indonesia raised taxes on the crude in the middle of September.
India open to rice sale to Indonesia, seeks palm oil duty cut
NEW DELHI, Nov 2 (Reuters) - India is willing to sell 500,000 tonnes of rice to Indonesia but also wants the Southeast Asian country to cut its export tax on crude palm oil which has threatened the domestic refining industry.
"My ministry has no objections in exporting 500,000 tonnes of rice to Indonesia from government stocks," Food Minister K.V. Thomas said after meeting Indonesian officials here just a month after trade ministers discussed the issues in Jakarta.
Palm at near 5-mth high on favourable fundamentals
JAKARTA, Nov 14 (Reuters) - Malaysian palm oil futures climbed to a near five-month high as sentiment on euro zone debt problems improved, with supply and demand fundamentals offering further support for the edible oil.
"The market is pretty firm," said a Kuala Lumpur-based trader. "Everything is up because the sovereign debt issue in Europe abated temporarily."
China 2011/12 soy imports seen staying robust -traders
BEIJING, Nov 14 (Reuters) - China, the world's top soy buyer, will continue to increase imports of the oilseed in 2011/2012 to meet rising demand from animal feed production, although releases by state reserves could weigh on the numbers, traders said.
Fei Zhonghai, a trading executive with state-owned COFCO Co. Ltd, estimated imports in 2011/12 would hit 58.5 million tonnes.
Rain advances Argentine 2011/12 soy planting -gov't
BUENOS AIRES, Nov 11 (Reuters) - Argentine farmers made quick progress planting 2011/12 corn due to recent rains that provided plenty of moisture to soils, the Agriculture Ministry said on Friday.
Argentina is a global top soymeal and soyoil exporter and the No. 3 soybean supplier. The government says farmers will produce between 52 million and 53 million tonnes this season.
Indian farmers start oilseeds, pulses sowing
Nov 11 (Reuters) - Indian farmers have started sowing of winter-sown oilseeds and so far have covered 5.045 million hectares in 2011/12 season, up just 1 percent on year, the farm ministry said on Friday.
Area under rapeseed stood at 4.418 million hectares compared to 4.211 million hectares the year ago.
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