You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Market Briefs<br />
TANZANIA’S NEW DUTY<br />
RATES ON PALM OIL<br />
Tanzania will delay<br />
implementation, by one year, of<br />
the East African Common<br />
External Tariff (CET) that would<br />
have eliminated duty on CPO.<br />
Instead, it will impose a duty rate<br />
of 10% on CPO, while reducing<br />
the duty on RBD palm stearin to<br />
10% from 25% at present.<br />
Finance Minister Zakia Meghji<br />
announced this in the 2006/07<br />
budget proposals, saying it was<br />
among measures agreed upon by<br />
Kenya, Uganda and Tanzania in<br />
June.<br />
The countries will review the CET<br />
to protect regional industries and<br />
consolidate the manufacturing<br />
sector. This will also protect local<br />
farmers who produce alternative oil<br />
seeds, while curbing tax evasion.<br />
Source:The East African (Nairobi),<br />
June 20, 2006<br />
BIO-DIESEL VOLUME<br />
TO DOUBLE<br />
The International Energy Agency’s<br />
five-year outlook report issued on<br />
July 12 forecasts that global biofuel<br />
production will almost double<br />
by 2011.<br />
Production will rise to 1.2 million<br />
barrels/day compared to 650,000<br />
barrels/day in 2005.<br />
European output will more than<br />
double by 2008 from 64,000<br />
barrels/day in 2005. The global<br />
share of bio-fuels from the US and<br />
Brazil is expected to decline from<br />
92% in 2005 to 78% by 2008.<br />
The report says ethanol produced<br />
in Brazil from sugarcane is<br />
competitive when crude oil prices<br />
are over US$40/barrel, while biodiesel<br />
produced from animal fats is<br />
competitive when crude oil is over<br />
US$60/barrel.<br />
Bio-diesel and ethanol produced<br />
from other feedstocks are only<br />
competitive in the absence of<br />
government subsidies and when<br />
crude oil prices are over<br />
US$70/barrel.<br />
Source: Ag Perspectives<br />
VEGETABLE OIL OUTPUT<br />
UP IN UKRAINE<br />
Ukraine produced 1.47 million<br />
tonnes of crude vegetable oils from<br />
September 2005 to May 2006, or<br />
1.5 times more than the indicators<br />
for 2004/05. Crude sunflower oil<br />
accounted for 1.4 million tonnes<br />
of this.<br />
In the same period, 343,400<br />
tonnes of refined vegetable oil were<br />
produced, or 2% higher than the<br />
indicators for 2004/05. Refined<br />
sunflower oil registered 338,200<br />
tonnes.<br />
Source: Ag Perspectives<br />
KABUL OPENS DOORS<br />
TO IMPORTS<br />
Afghanistan has allowed imports of<br />
cooking oil from June, adding to<br />
direct availability of 150,000<br />
tonnes of vanaspati ghee annually.<br />
The majority of the ghee-makers in<br />
Peshawar had been getting their<br />
supply of edible oil and vanaspati<br />
via Pakistan, Iran and UAE.<br />
Source:Daily Business Recorder, June<br />
13, 2006<br />
FARMERS TO CERTIFY<br />
SUSTAINABILITY<br />
With many traders recently<br />
deciding to stop buying soybean<br />
produced in deforested areas of the<br />
Amazon, many farmers in the<br />
Matto Grosso region have been<br />
forced into action.<br />
GLOBAL OILS & FATS BUSINESS MAGAZINE •VOL.3 ISSUE 3, 2006 33
Change language