All systems go for the Cocohouse luncheon next week on Tuesday, August 19, 2008, noontime, at the Rockwell Club, Meeting Rooms 1-3, Lower Level 1, Amorsolo Square, No. 23 Amorsolo Drive, Rockwell Center, Makati City, Metro Manila. The Virgin Coconut Oil Producers and Traders Association of the Philippines (VCO Philippines) is hosting the event.

       Director Senen Perlada, Bureau of Export Trade Promotion – International Trade Group, Department of Trade and Industry, and concurrently Executive Director of Export Development Council, will be the guest speaker and will talk about “Positioning VCO in the Global Market”. Visiting scientist from Canada, Dr. Victor Gavino, under the Department of Science and Technology’s Balik Scientist Program will also be at Cocohouse and will provide updates on ongoing coconut oil researches.

       Official figures from the National Statistics Office show the Philippines imported 1,560 MT of vegetable oil in April. This is a steep dive by 67.6% from April last year total at 4,811 MT. Six out of eight vegetable oils imported during the month recorded substantial shortfall from last year.

       Palm oil was top import amounting to 1,321 MT and accounted for 84.7% of total delivery. Volume, however, shrank by 47.2% from 2,504 MT at the same time last year. Corn oil at 78 MT was far second, cutting by a massive 78.6% last year total at 364 MT; followed by soybean oil at 63 MT which precipitously dropped by 93.2% from 931 MT. Other imports were as follows in MT: sesame oil 46 (56 last year), tung oil 17 (17), castor oil 17 (nil), sunflower oil 14 (175), olive oil 4 (40).

       Figures from the Coconut Development Authority in Sri Lanka show the country’s desiccated coconut export massively dropped by 71.9% in May this year to 1,046 MT from 3,717 MT at the same time a year earlier. The shipment was worth USD2.055 million as against USD4.187 million year-ago. Average traded price during the month at USD1,961/MT FOB jumped 74.2% from prior year at USD1,126/MT.

       Data from Oil World show China imported 34,700 MT of lauric oils in May this year, dropping by 29.1% from May last year total at 48,800 MT. Palm kernel oil comprised the bulk of import amounting to 19,700 MT (56.9% share) while coconut oil was 15,000 MT (43.1%). Import of coconut oil during the month grew by a hefty 80.7% from last year at 8,300 MT while that of palm kernel oil markedly shrank by 51.4% from 40,500 MT.

       Malaysia was the country’s major source of lauric oil contributing 42.4% from delivery of 14,700 MT (7,600 MT year-ago) of palm kernel oil. Indonesia supplied 13,500 MT (40,700 MT) which consisted of 8,500 MT of coconut oil (7,800 MT) and 5,000 MT of palm kernel oil (32,900 MT) and was responsible for 38.9%. The Philippines contributed 6,200 MT (500 MT) or 17.9% of coconut oil. Supply from other countries was 200 MT of coconut oil (no reported figure year-ago).

       According to the Agriculture Ministry, Ukraine, the world’s top exporter of sunflower oil, is expected to increase sunflower production this year by 19%. Serhiy Melnyk, deputy agriculture minister, said the sunflower seed crop is anticipated to reach 5 million MT in 2008 as yields are forecast to improve to 1.3 MT/hectare from 1.2 MT/hectare last year.

       Fast-food chains in Canada are reducing usage of trans fat under voluntary guidelines, reports say. However, while restaurants are falling into step, the baked-goods sector remains a challenge. Only a few pastry manufacturers have made strides to reduce trans fat in their products. The Heart and Stroke Foundation criticized margarine and doughnut manufacturers for their lack of effort to develop healthier options for consumers.

       Reports say Peru’s state energy firm Petroperu might start importing biodiesel to comply with a law requiring all road fuels to contain at least 2% biodiesel beginning January 2009 and 5% by 2011. The country is not a major biofuels producer and has only 20,000 hectares dedicated to biofuel crops, representing just about 25% of what would be required to satisfy the new fuel law.

       Cargill hosted recently a groundbreaking event at the Aberdeen site of the company’s future specialty canola research and production center which is scheduled to open in November 2008. The Cargill Specialty Canola Oils Research and Production Centre will be part of Cargill’s research farm, located about 48 kilometers from Cargill’s canola crush facility in Clavet, Saskatchewan. The research farm supports Cargill’s specialized hybrid breeding and production trials, with a focus on developing high-yielding agronomic traits and the next generation of output traits. Planting at the research farm began last May.

       PTT Chemical Public Company Limited (PTT Chemical), a leading producer and distributor of chemical products, through its wholly owned subsidiary PTT Chemical International Private Limited (PTT Chemical International), and Sime Darby Plantation Sdn. Bhd. (Sime Darby), the world’s largest producer of palm oil recently signed a joint venture agreement creating a strategic partnership for the joint ownership and control of Cognis Oleochemicals (COM), the world’s largest producer of natural-based oleochemicals products.