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LIST OF ARTICLES

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Article Info

Vol 5 No.2 (2005) p1-10
Vision 2020 - The Palm Oil Phenomenon
Yusof Basiron and Mohd Arif Simeh

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Abstract


Vision 2020 - The Palm Oil Phenomenon

Predicting the future performance of an export oriented commodity like palm oil is no easy task. The prediction has to take into account the long run past performance, resource constraints and challenges faced by the commodity at both the domestic and international fronts. This paper attempts to overview the palm oil industry; what it was in the past, its situation today and its likely development in the future.

Keyword(s): VISION 2020 ; PALM OIL & OIL PALM INDUSTRY-Malaysia ; FORECASTING ; FUTURE PROSPECTS ; MARKET DEVELOPMENT ; MPOB PUBLICATIONS

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Article Info

Vol 5 No.1 (2005) p37-43
Palm Oil Derived Esters - An Environmentally Safe Drilling Fluid
Mohd Kassim Salleh and Stephan von Tapavicza

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Abstract


Palm Oil Derived Esters - An Environmentally Safe Drilling Fluid

The rising world energy demand has led to exploration for oil and gas in increasingly difficult environments. Exploration is now extending into sensitive regions, in particular, offshore fields. Drilling in deep water in increasingly deviated and extended wells and borehole instability in challenging geological formations are some of the obstacles encountered. Oil-based drilling fluids are widely used in drilling, especially in highly technical wells. This is because oil-based drilling mud systems perform much better than water-based muds in bore hole stabilization and providing lubricity thereby give faster rates of penetration. However, they are a cause for environmental concern and with the potential long-term liability for damage caused by mud spills and problems in disposal of the oil-contaminated drill cuttings, changes are afoot. The industry has
been replacing highly aromatic oils (e.g. diesel) with low aromatic mineral oils as well as synthetic oils. However, as environmental legislation and controls become more stringent, even the newer and less polluting mineral and synthetic oils in vogue now may be adjudged unsuitable because of their non-biodegradability. Indeed, today, in many parts of the world, including countries like the USA, United Kingdom, Holland, Norway, Nigeria and Australia, the use of diesel and mineral oil-based drilling fluids in offshore operations is already either severely restricted or banned because of their toxicity, persistency and bio-accumulation.

Keyword(s): PALM OIL ; METHYL ESTERS ; PALM OIL LUBRICANT ; OIL DRILLING ; MPOB PUBLICATIONS

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Article Info

Vol 5 No.1 (2005) p28-36
Market Evaluation of Phosphate Fertilizers from Various Sources for Matured Oil Palm in Malaysia
Mohd Nasir Amiruddin; Zin Zawawi Zakaria and Hasiah Embong

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Abstract


Market Evaluation of Phosphate Fertilizers from Various Sources for Matured Oil Palm in Malaysia

Fertilizers are one of the most important inputs in the production of palm oil. Their use is dependent on the price of palm oil (PO), the higher the price the more the fertilizers used. P fertilizers significantly increased fresh fruit bunches (FFB) yield and the rates to be used will depend on the costs and benefits afforded by them. This study determines the costs and benefits of utilizing various sources of phosphate fertilizers through partial budgeting and dominance analysis for gross return (GR), total variable cost (TVC), marginal rate of net return (MRNR), net return (NR) and return on investment (ROI).

Keyword(s): PALM OIL ; FERTILIZERS, PHOSPHATE ; COST BENEFITS ; FFB ; MPOB PUBLICATIONS

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Article Info

Vol 5 No.1 (2005) p17-27
Market Potential and Challenges for the Malaysian Palm Oil Industry in Facing Competition from Other Vegetable Oils
Mohd Nasir Amiruddin; Ayat K Ab Rahman and Faizah Mohd Shariff

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Abstract


Market Potential and Challenges for the Malaysian Palm Oil Industry in Facing Competition from Other Vegetable Oils

The market potential for oils and fats remains good into the future considering the increases in population, income as well as per capita consumption especially in countries with currently low income and low consumption. However, the challenges are that most of the oils are inter-substitutable and therefore in competition with each other. Thus, countries impose support measures to gain markets for their products.
This paper examines the market potential and challenges of the Malaysian palm oil industry in facing competition from other vegetable oils. There exists a relationship between vegetable oil prices in the longterm and short-term because they are co-integrated. The vector error correction model (VECM) was used to distinguish the long- and shortterm relationships between the vegetable oil price variables. This test determined the oils in close competition with one another as well as established the bi-directional causality between the oils. The former means that two or more oils can influence each other. In general, it was concluded that palm olein is a price leader to certain vegetable oils and the challenge lies in making it the main price leader in the vegetable oils and fats sector. This can be achieved by palm oil producing and exporting countries having their own market intelligence to confer an advantage in preparing better competing strategies.

Keyword(s): PALM OIL & OIL PALM INDUSTRY-Malaysia ; PALM OIL MARKETING ; MARKET COMPETITONS ; MARKET DEVELOPMENT ; INTERNATIONAL TRADE ; MPOB PUBLICATIONS

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Article Info

Vol 5 No.1 (2005) p1-13
The Role of Research and Development Strategies in Food Safety and Good Agricultural, Manufacturing and Distribution Practices in the Malaysian Palm Oil Industry
Yusof Basiron and Chan Kook Weng

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Abstract


The Role of Research and Development Strategies in Food Safety and Good Agricultural, Manufacturing and Distribution Practices in the Malaysian Palm Oil Industry

Globalization has expanded the Malaysian palm oil export market to over 140 countries. Research and development strategies carried out by Malaysian Palm Oil Board (MPOB) continue to provide information to demonstrate proactively food safety with negligible risk in its global supply chains. By examining the factors of air, water, soil, agricultural input, raw material and human used in the production, processing and manufacturing operations, the sound knowledge of science and technology from the 209 MPOB innovations, when combined with business and application of the widely accepted rigorous and systematic method of assessing and controlling hazards through the food chain, has ensured that palm oil remains an agricultural product that is healthy and safe to the customer. Throughout the food supply chain, the general principles of hazard analysis by critical control points (HACCP) have been incorporated into food safety legislation, long before they were officially introduced, to check the hygiene requirement and to use as a practical means of standardizing international food quality control and assurance practices. Every stage of preparation, processing, transport and distribution of palm oil is examined so that the final palm oil products for retailing to customers indeed are safe and nutritious. An effort is made to communicate new R&D findings to retain the credibility and trust of customers who will understand what lies behind such a food safety assurance scheme.
The value-add throughout the supply chain covers good agricultural practices (GAP), good manufacturing practices (GMP) and good distribution practices (GDP). Built into a database, the information gathered allows the effectiveness of the good practices in food safety management, detection of contaminants, toxicology, novel processing, packaging and application of risk management to be evaluated. The harmonization of these good practices towards standardization provides a high level of confidence to the operational entities and the customers. The auditors and assessors when benchmarked by accredited bodies that are internationally recognized, the industry will attain integrity by their assessment. Knowledge that Malaysian palm oil products are produced to an agreed standard will further boost consumer confidence by making them even more acceptable by people the world over.

Keyword(s): PALM OIL & OIL PALM INDUSTRY-Malaysia ; RESEARCH AND DEVELOPMENT (R & D) ; FOOD SAFETY ; MARKET DEVELOPMENT ; EXPORTS ; MPOB PUBLICATIONS

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Article Info

Vol 4 No.2 (2004) p29-38
Economic Feasibility of Organic Palm Oil Production in Malaysia
Ahmad Borhan A Nordin; Mohd Arif Simeh; Mohd nasir Amiruddin; Chan Kook Weng and Burhanuddin Abdul Salam

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Abstract


Economic Feasibility of Organic Palm Oil Production in Malaysia

The importance of organic farming has increased due to its environmentally friendly methods and growing consumer awareness of food safety. Based on estimates, world retail sales of organic foods will reach USD 29-USD 31 billion in 2005. Producing palm oil by organic cultivation is highly possible in Malaysia since many oil palm agronomic practices in the country already have minimum environmental impacts and are moving towards even more eco-friendly methods. The command of a premium price is the main attraction for investment in organic food production.

Keyword(s): PALM OIL ; ORGANIC FARMING ; ECONOMIC FEASIBILITY ; MPOB PUBLICATIONS

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Article Info

Vol 4 No.2 (2004) p23-28
Improving the Price Forecast of Crude Palm Oil Futures Using Historical Return Variances
Azmi Omar and Shamsul Majid

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Abstract


Improving the Price Forecast of Crude Palm Oil Futures Using Historical Return Variances

This paper attempts to investigate the price relationship between the spot and futures prices of crude palm oil contracts traded in the Malaysian Derivatives Exchange. Using historical variances of spot and futures price returns, we applied a model for approximating the convenience yield developed by Longstaff (1995). This model was then tested on the actual crude palm oil prices for the spot-month and three month contracts from January 1988 to December 2002, to determine the forecasting accuracy of this model relative to the simple cost-of carry model. There was some improvement in the predictive ability of this approach which could be attributed to the inclusion of historical return variances. The improvement was also evident when tested against out-of-sample data, suggesting that the inclusion of historical return variances in the form of the convenience yield could provide a better forecast of crude palm oil futures prices.

Keyword(s): PALM OIL ; PRICE FORECASTS ; CRUDE PALM OIL ; MPOB PUBLICATIONS

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Article Info

Vol 4 No.2 (2004) p14-22
Comparative Advantage of the European Rapeseed Industry vis-a-vis Other Oils and Fats Producers
Mohd Arif Simeh

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Abstract


Comparative Advantage of the European Rapeseed Industry vis-a-vis Other Oils and Fats Producers

Rapeseed production in Europe currently constitutes to nearly one-third of the world output of about 28 million tonnes although its area is three times smaller than that in China. This paper attempts to assess its competitiveness vis-à-vis 26 other oils and fats producing countries [with special reference to other rapeseed oil producers, the least cost producer of vegetable oil and Malaysia (in the production of palm oil)]. Three economic comparisons will be used, i.e.; economic advantage,
comparative advantage and structural competitiveness.

Keyword(s): RAPESEEDS OIL ; RAPESEED OIL INDUSTRY-Europe ; PRODUCTION STATISTICS ; OILS & FATS ; MPOB PUBLICATIONS

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Article Info

Vol 4 No.2 (2004) p1-13
Impacts of CPO-Export Tax on Several Aspects of Indonesian CPO Industry
Wayan R Susila

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Abstract


Impacts of CPO-Export Tax on Several Aspects of Indonesian CPO Industry

To control domestic supply and price of crude palm oil (CPO) and cooking oil, the government of Indonesia has imposed CPO-export tax since August 1994. As the CPO industry plays an important role in Indonesian economy, the imposition of the tax is expected to have substantial impacts on various aspects of the industry, such as on investment, production, trade, farm income and welfare distribution. The main objective of this study is to assess these impacts using an econometric model of the industry. The results of the study reveal that the export tax policy has inhibited the growth rate of investment, production, export and farm income. On the other hand, this policy has been an effective instrument to control domestic CPO and cooking oil price. Moreover, this policy has caused a substantial welfare transfer from producers to consumers and the government. To compromise these conflicting impacts, an alternative CPO tax formula is also proposed in this paper.

Keyword(s): PALM OIL INDUSTRY-Indonesia ; OILS & FATS INDUSTRY ; CRUDE PALM OIL ; MODELS, ECONOMETRIC ; EXPORTS ; MPOB PUBLICATIONS

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Article Info

Vol 4 No.1 (2004) p32-40
Analysis of Palm Oil Cost of Production Survey, 2002
M Mohd Noor; Mohd Arif Simeh; Azman Ismail and Jusoh Latif

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Abstract


Analysis of Palm Oil Cost of Production Survey, 2002

A cost of production survey of the Malaysian palm oil industry was undertaken in mid 2003. The analysis of the data revealed a number of strategies to reduce cost of production. These are the exploitation of the economies of scale, economies of scope, reducing on certain costs in the high cost companies and integrating the estate and mill.

Keyword(s): PALM OIL & OIL PALM INDUSTRY ; COST OF PRODUCTION ; FFB YIELD ; PRICES ; MPOB PUBLICATIONS

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© Malaysian Palm Oil Board (MPOB). All Rights reserved.
No part of this publication may be reproduced, stored in a retrieval system,
in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the publisher.

This online publication is electronically compiled by Palm Information Centre, Malaysian Palm Oil Board (MPOB)
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