For week ending Jun 12, 2008

       Following are special awards winners: First 3 Consecutive Strikes (Female) – Choy Asong (UCPB); First 4 Consecutive Strikes (Male) – Wally Coronel (Inter-Asia Marine); First 4 Consecutive Spares (Female) – Choy Asong (UCPB); First 5 Consecutive Spares (Male) – Nelo Bermudez (Pilipinas Kao); First Split Conversion (Male, Female) – Renjie Sacuan (Sakamoto), Carie Silvano (Inter-Asia Marine); Club 200 (Male) – Marc Matias (UCPB, 203), Adrian Tabora (UCPB, 200); Club 175 (Female) – Annie Macato (Inter-Asia Marine, 225), Choy Asong (UCPB, 209), Jojie Milan (Sakamoto, 195).

       The Board of Investments approved the grant of fiscal incentives to a coconut oil mill project in Davao under the preferred activity of agriculture, agribusiness and fishery. The plant, Davao Bay Coconut Oil Mills Inc., to be located in Madaum, Tagum City, will have an annual capacity to produce 65,625 metric tons of crude coconut oil and 36,225 MT of copra meal and cake. The facility will start commercial operations in July 2009. Davao Bay plans to sell and supply the products to the domestic market, especially coconut oil refineries and soap and oleo chemical companies in the Visayas and Mindanao regions.

       Researchers had found out in the past that coconut was a source of brown dye. However, it was only recently discovered that coconut could also produce pink dye. The use of natural dye in textiles is being promoted by PTRI-DoST as it is more environmentally friendly, non-toxic and non-carcinogenic.

       It also projected domestic consumption of edible oils in China to rise to 25.32 million MT in 2008/09, up from 24.16 million MT in 2007/08. Import of vegetable oils for the period was predicted at around 10.39 million MT, up from 9.88 million MT previously. India is also anticipated raise domestic consumption of edible oils to 13.06 million MT from 12.54 million MT and to increase import to 6.06 million MT from 5.46 million MT. USDA predicted world vegetable oil production next season to increase which should keep a lid on prices, but likely will not be enough to push prices down to historic levels.

       The country’s Plantation Industries and Commodities Ministry, however, has reassured consumers that there is no official approval for the prices of 1kg, 3kg and 5kg bottles of cooking oil to be increased. The Government has not approved any price increase for these categories. The Malaysian Palm Oil Board controls the price for these three categories.

       Analysts, however, claim the move is unlikely to have much impact on the world edible oil market as China is not a significant edible oil exporter. Customs data show the country exported around 48,000 MT of edible oils in the first four months of this year, a decline of 3.8% from same period last year. Soya oil was the top export with 29,183 MT, up by around 26% from last year, followed by peanut oil at 3,065 MT, rapeseed oil at 2,188 MT and sunflower oil at 1,045 MT.

       He further said that the policy is to focus on agriculture and to increase the production of oilseeds. This year the country has bumper crop of sunflower seed and the policy of giving better support price to the farmers has given positive results. He cited the Palm Oil Development Board (PODB) for doing a great job in the cultivation of oil palm fruits

       European and North American biofuels industries have welcomed the resolution on biofuels made at the recently held UN Food and Agriculture Organization Food Summit. Delegates at the event opted to investigate more into the impact of biofuels and work towards making them sustainable with food and other needs. The Canadian Renewable Fuels Association, the European Bioethanol Fuel Association, and the Renewable Fuels Association in the US welcomed the “thoughtful approach world leaders took in assessing biofuels role in the current world food crises”, saying it was confident further research will underscore the valuable contribution biofuels can make to ease the energy and agriculture challenges confronting all nations.

       Gordon Quaiattini, President, Canadian Renewable Fuels Association said the legislation will help ensure reduction of greenhouse gas emissions, provide new opportunities for Canadian farmers, and bring about competition at the pump. With oil and gas prices at record highs, the case for viable alternatives to petroleum has never been stronger, he added.

        Univanich is also looking to buy large plots of plantation land in neighboring Southeast Asian countries as plantations available at home were too limited;.the company, however, was not specific on the country. It will spend 290 million baht this year on palm production capacity, a third biogas plant, and some land purchases to operate its seed business. Current capacity is 135 MT per hour and will be increased by 15-20% this year. It operates three factories in the southern province of Krabi and plans to build a new factory in another province. The firm produces all its seed in Thailand while its first two biogas power plants completed at the beginning of 2008 would contribute revenues in the second half.