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For week ending Apr. 10, 2008 |
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PHILIPPINE IMPORT OF VEGOILS
DOWN SHARPLY IN 2007
Figures from the National Statistics Office show Philippine import of vegetable oils in 2007 shrank 72.3% to 65,809 MT from 237,860 MT a year earlier. The shortfall was largely due to a massive plunge in palm oil delivery to 35,381 MT from 197,477 MT year-ago, a deficit of 82.1%. Palm oil, however, is still the top import as has been in the past accounting for 53.8% of total inbound oils during the year. Second biggest import soybean oil similarly recorded a shortfall of 56.3% at 11,831 MT from 27,048 MT and comprised 18.0% of aggregate. In contrast, the next five biggest imports bested respective year-ago volume save for palm kernel oil. Leading the charge was rapeseed oil which shot up by 76.7% to 4,734 MT from 2,679 MT, trailed by palm kernel oil which at 4,064 MT virtually maintained prior year level at 4,093 MT. An import of coconut oil was recorded during the year at 3,063 MT, many times over the prior year data at only 3 MT. Corn oil purchases at 2,584 MT exceeded year-ago at 2,206 MT by 17.1% as well as sunflower oil at 2,012 MT which topped last year?s 1,903 MT by 5.7%. Other imports were linseed oil 981 MT (819 MT year-ago), sesame oil 552 MT (887 MT), olive oil 530 MT (511 MT), tung oil 51 MT (53 MT) and castor oil 26 MT (12 MT). SOURCES OF PHILIPPINE VEGOIL IMPORTS IN 2007Malaysia retained its position as leading origin of Philippine vegetable oil imports delivering 37,143 MT or 56.4% of total for the year. This comprised mainly of palm oil at 23,853 MT, soybean oil at 10,441 MT, palm kernel oil at 2,044 MT and limited volume of corn oil, rapeseed oil, and sesame oil. The country was top supplier of palm oil, soybean oil and palm kernel oil during the year. Indonesia took the second spot with shipment of 16,322 MT and represented 24.8% of total uptake. The import mix comprised only of tropical oils namely palm oil at 11,322 MT, coconut oil 3,000 MT and palm kernel oil 2,000 MT. Landing third was Singapore with 4,228 MT (6.4% share) the bulk being rapeseed oil at 1,322 MT, sunflower oil 908 MT, soybean oil 863 MT, corn oil 790 MT and small amounts of palm oil, sesame oil, coconut oil, and palm kernel oil. Singapore was major source of sunflower oil. Close fourth was Denmark with 4,150 MT sales (6.3%) consisting of rapeseed oil 2,184 MT, corn oil 1,302 MT, and sunflower oil 664 MT. Denmark was leading origin of rapeseed oil and corn oil. Other notable suppliers were Belgium 599 MT, Canada 551 MT, US 395 MT, Spain 321 MT, Thailand 320 MT and China 303 MT. Import from Belgium was linseed oil only, Canada rapeseed oil, and Spain olive oil. The combined imports from Malaysia, Indonesia, Singapore, and Thailand which are ASEAN member countries represented 88.1% of total. SRI LANKA DESICCATED COCONUT EXPORT DOWN IN DECEMBER 2007Figures from Sri Lanka?s Coconut Development Authority (CDA) show the country?s export of desiccated coconut in December 2007 sharply dropped by 34.4% to 2,494 MT from 3,801 MT in the same month year-ago. The shipment was worth USD3.523 million as against USD3.771 million year-ago. Average traded price during the month at USD1,413/MT FOB leaped by 42.4% from prior year at USD992/MT. Export during the month went to some 25 various countries. The top five importers held volumes above 100 MT and collectively accounted for 78.7% of total trade. Leading the pack was UAE/Dubai with 792 MT (31.8% share), followed by UAR/Egypt with 616 MT (24.7%), Germany 227 MT (9.1%), Pakistan 202 MT (8.1%) and Saudi Arabia 123 MT (5.0%). The remaining 20 other countries accounted for 534 MT or 21.3% and had uptake ranging from a low of 1 MT to a high of 71 MT. Total export for calendar year 2007 stood at 45,393 MT, an increase by 9.0% from a similar period year-ago at 41,635 MT. Average traded price during the year was USD1,181.47/MT, comparatively higher by 29.2% against prior year at USD914.45/MT FOB. Nearly a quarter (23.3%) of the year?s shipment went to UAE/Dubai at 10,582 MT; export to UAR/Egypt shared 11.4% at 5,194 MT. Third biggest market was Pakistan contributing 8.4% at 4,104 MT. INDIA EXEMPTS COCONUT OIL, CASTOR OIL FROM EXPORT BANIndia?s commerce and industry ministry reports that the ban on exports of castor oil and coconut oil has been lifted effective April 01 this year. Last month, the country announced a ban in the export of all edible oils for one year effective March 17 to improve the domestic supply situation and check on rising prices, which have caused inflationary pressure in the country. There were no reasons provided for exempting coconut oil and castor oil from the ban, but analysts say the quantity of such exports is very small and thus a ban would have no impact on the domestic supply and price situation. India is the world?s largest producer and exporter of castor oil, with output at around 250,000-350,000 tons a year.??? BRAZIL CUTTING TAXES, LEVIES ON SOYA PRODUCTS TO SUSTAIN EXPORTBrazil has decided to make its export of soybean oil and products competitive by reducing its taxes and levies on production. Soybean oil is one of the country?s major exports to India. Brazilian Minister of Development, Industry and Foreign Trade Miguel Jorge said, ?In the backdrop of the rising global prices, we are thinking of reducing our taxes and levies on the production of soybean products for maintaining exports.? India imports both refined soybean oil and degummed soybean oil. In oil year 2006/07 November/October, India imported 11,120 MT refined soybean oil and 13,322,920 MT degummed soybean oil. Imports were much higher in the prior three oil years. Meanwhile, India scrapped import duties on crude edible oils early this month and reduced import duty on refined edible oils to 7.5% from 27.5%. PAKISTAN TO IMPORT OIL PALM SEEDLINGS FROM MALAYSIASome 0.9 million oil palm seedlings will be imported from Malaysia by the Pakistan Oilseed Development Board (PODB) and will be grown in coastal areas of Sindh and Balochistan provinces. PODB plans to cultivate oil palm crop on 12,000 acres in these provinces. The import is being made under the Oil Palm Development Project which costs Rs 113.08 million and expected to be completed by end of year 2010. The Project aims to reduce dependence on foreign oil. PODB already procured 0.5 million seedlings and grown in different nurseries of the country. The Board provides oil palm seedlings to growers on easy installments to encourage domestic production. About 54 of Pakistan?s cooking oil and ghee are made from palm oil. COTTON OIL CAN CAUSE INFERTILITY, OTHER HEALTH PROBLEMSThere is a cotton oil health scare in Mali as it has been discovered that many of the country?s edible oil factories lack the proper equipment to remove the toxin gossypol from the cotton seed, which can cause infertility and other problems. Gossypol is responsible for azoospermia, an absence of sperm in the semen. It is also responsible for interrupting the menstrual cycle and pregnancy and can also affect the liver and the heart, Malian Consumer?s Association spokesperson Ibrahima Sangare said. Mali is sub-Saharan Africa?s biggest producer of cotton. Consumers prefer cotton oil in cooking being the cheapest on the market. Despite closing down more than 80 small-scale producers in the past month, leaving only 16 with permission to continue pressing, badly refined cotton oil is still making it on the market. INDIAN FIRM TO SELL EDIBLE OILS RATHER THAN BIODIESELIndia?s Emami Group has decided to diversify its portfolio. Aditya Agarwal, director of Emami, said that the plant in Haldia in West Bengal had been originally planned for biodiesel production. However, biodiesel production became unviable due to the unavailability of the raw material jatropha while an alternative raw material palm oil has also become very expensive. Since the company has edible oil processing facility, this will be used instead to produce edible oil in bulk for restaurants, hotels, caterers and crisp and biscuit makers. The company will produce up to 800 tons of palm oil, 600 tons of soya oil and 200 tons of rice bran oil a day. CHINA AGRO-TECHNOLOGY TO BUILD BIODIESEL REFINERY PLANTChina Agro-Technology Ltd. (CAT) announced recently that it has signed a Memorandum of Understanding with Beihai city government to set up a biodiesel refinery plant in Beihai, Guangxi Province, China. The company expects to invest up to $200 million over the next four years for the plant with full capacity to produce 2 million metric tons per annum. CAT has a target completion timeline for the factory of six months from the date of commencement. CAT Founder & Chairman, Dr. Harry He noted that biodiesel has the highest demand of any commodity in China, citing that to meet the 2020 B10 Kyoto Protocol requirement the country needs 12,400,000 tons of biodiesel in 2008. However in 2007, the supply in China was less than 1 million tons. Therefore, the product from the biodiesel plant will be a very important part of China?s effort to meet the requirement.
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