U.S. Bans Trans Fat

http://www.bloomberg.com/news/articles/2015-06-16/u-s-bans-trans-fat-in-a-boost-for-palm-oil-and-a-blow-for-pie

Time to study Palm Oil Industry. Local tax increase on imported edible oil has to be considered as well..

Nice to see you back Alchemist

yellow knife wrote:Time to study Palm Oil Industry. Local tax increase on imported edible oil has to be considered as well..

Nice to see you back Alchemist

YK, I don't think Alchemist has any interest in local Palm Oil Industry . He fries bigger fish in his oil.

There is a hidden move by the government to increase the tax on Palm oil.

Palm oil’s outlook beats gold – top metals forecaster On El Ninos’ potential to affect weather and harvests worldwide.

Jasmine Ng and Phoebe Sedgman, Bloomberg | 3 July 2015 11:39

Tropical commodities including palm oil are favored over gold and copper in the second half, according to Oversea-Chinese Banking Corp., which warned of rising risks to farm supplies from the El Nino weather pattern.

Palm oil was seen at 2,300 ringgit ($609) a metric ton in the final quarter, from 2,262 ringgit on Thursday, analyst Barnabas Gan wrote in a report. Gold will probably tumble to $1,050 an ounce as higher U.S. borrowing costs strengthen the dollar, said Gan, who’s the most-accurate forecaster for precious metals according to Bloomberg Rankings. Copper may slump about 5 percent to $5,500 a ton on ample inventories.
El Ninos have the potential to affect weather and harvests worldwide by baking Asia, dumping rain across South America and bringing cooler summers to North America. This year’s event, the first since 2010, poses a risk to the global economy as it may harm crops and boost inflation, according to Citigroup Inc. Rice may rally in the second half if supplies get parched in many countries, Duangporn Rodphaya, director-general at Thailand’s Department of Foreign Trade, said on Wednesday.

“With the introduction of El Nino, weather extremities have already dealt drought pangs in Thailand,” Gan wrote. The country is the world’s top rice shipper. Agricultural commodities like palm oil and coffee are likely to see supply shocks should poor weather be seen, he wrote.

Record event

This year’s El Nino is strengthening as the Pacific Ocean warms, and some data patterns are similar to the event in 1997-98, Australia’s Bureau of Meteorology said in a forecast last week. That was the strongest pattern on record, according to the National Oceanic and Atmospheric Administration.

In the coming months, weather events driven by the El Nino may take center stage in determining the price of palm oil and related commodities, Ivy Ng, an analyst at CIMB Investment Bank Bhd., wrote in a report on Wednesday. Malaysia’s palm oil shipments probably climbed in June amid restocking by some customers on the back of El Nino concerns, she said.

Gold will tumble as expectations for higher U.S. borrowing costs boost the dollar, said Gan, who forecasts the Federal Reserve will probably raise rates in September. Bullion fell as low as $1,157.18 an ounce on Thursday, the lowest since March 18, and traded at $1,162.32 after U.S. data that showed further employment gains in June, boosting the case for policy makers to tighten before the year-end.

“The first Fed rate hike is eyed this year, which should translate into a firmer dollar into year-end,” Gan wrote. “We view this as a strong signal for bearish gold prices.”

©2015 Bloomberg News

Uggah: B10 biodiesel programme will utilise crude palm oil from stockpile if implemented

Friday July 3, 2015
06:07 PM GMT+8

Implementation of the B10 biodiesel programme will utilise crude palm oil from Malaysia's stockpile, says Datuk Amar Douglas Uggah Embas today. — File pic
Implementation of the B10 biodiesel programme will utilise crude palm oil from Malaysia's stockpile, says Datuk Amar Douglas Uggah Embas today.

KUCHING, July 3 — Some 1.22 million tonnes of crude palm oil (CPO) from the country’s stockpile will be utilised annually upon the implementation of the B10 biodiesel programme, said Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas.

The B10 is 10 per cent palm biodiesel blended with 90 per cent petroleum diesel and is a migration from the current B7 blend.

“The government is still awaiting the report from the Malaysian Automative Association (MAA) which has opposed its usage citing incompatibility and warranty issues,” he said.

He told the media this before visiting the IOT (Independent Oil Terminal) management sendiran berhad, a wholly owned subsidiary of Senari Energy Sendiran Berhad which is a state government-link company involved in the distribution of the B7 biodiesel in the state.

The RM12 million company in Muara Tebas was expected to be fully operational by September this year while the B10 implementation was scheduled by October, he said.

Uggah said his ministry was still in the process of consultation with the MAA.

“Last week, the association has talked to the Malaysian Palm Oil Board (MPOB) on its usage.

“We want MAA to send us its report by the end of this month,” he said.

The government would decide on the implementation after going through this report, he said.

He said while MAA had reservations about its usage, the Mercedes-Benz Malaysia (MBM) group had announced two days ago that B10 biodiesel was compatible with its diesel car engine. — Bernama

- See more at: http://www.themalaymailonline.com/money/article/uggah-b10-biodiesel-programme-will-utilise-crude-palm-oil-from-stockpile-if#sthash.jtCpjx0m.dpuf