PPB Oil Palms' acquisition plan: Malaysian palm-oil producer PPB Oil Palms Bhd will acquire 8.5 million shares, or 100 per cent equity interest, in Geodopa Holdings (Sabah) Sdn Bhd for 112 million ringgit, the company said in a statement. Geodopa Holdings, an unlisted wholly-owned subsidiary of Kretam Holdings Bhd, is an investment holding company whose main activity is the cultivation of oil palm in the east Malaysian state of Sabah. "The proposed acquisition is in line with the objectives of PPB Oil Palms to expand the group's oil palm plantations," the group said.

Australia barley crop estimate revised: Australian Wheat Forecasters Pty Ltd (AWF) slightly raised its forecast of the country's 1998-99 (April-March) barley crop to 5.05 million tonnes from its previous forecast of 5.04 million tonnes a month ago. All barley producing areas received favourable rains over the past month, the private forecaster said on Monday.The last important barley production area to receive heavy rain was north and northeast of Perth in Western Australia. This rain, received last week, meant all Australia's barley areas had now had an excellent rains to start the winter growing season, it said.

Indonesian rubber market crawls: The Indonesian rubber market slowed to a crawl on Tuesday as players nervously watched the country's confusing political developments. "There is no trading today. Shipment activity has quietened down because business has also slowed down. We expect to see some trading on Friday," a trader in Palembang, South Sumatra said. Rubber trading was paralysed last week when riots rocked the capital Jakarta and more than 500 people were killed. The riots were sparked by the death of six students during an anti-government protest. The rupiah sank to 13,500/14,500 against the dollar at 0113GMT on Tuesday as uncertainty continued over whether president Suharto would bow to a call by parliament speaker Harmoko to step down.Suharto was expected to appear live on television on Tuesday morning to explain the political situation. "With the military renewing their allegiance to Suharto, the stalemate may bring renewed opposition towards the government. This showdown on Wednesday will be ugly if Amien Rais is successful to bring the people to the street," one trader in Jakarta said.

Philip Morris may away from talks: Philip Morris chief executive officer (CEO) Geoffrey Bible said on Tuesday that he did not foresee tobacco companies rejoining the debate over a tobacco bill currently being considered by the senate. "It's hard for me to see in this environment that there's going back," Bible said on CNN's Moneyline programme. Bible said anti-tobacco provisions of the senate bill were excessive, and called for a return to an agreement signed with states attorneys general last year. "There are some elements in (the senate bill) that in concept are right. But they have gone too far. I think what we need, if reason can prevail (isto) get us back to the attorney generals' agreement that we had in June last year," he said.

India to produce 195 mt foodgrain: India is likely to produce 195 million tonnes of foodgrain in 1997-98, lower than the record production achieved in 1996-97 by about four million tonnes. However, expected foodgrain production of 195 million tonnes would be higher than the production in all the preceding years, an official release said. According to estimates, wheat production in the current year would be about 66.5 million tonnes, lower than 2.8 million tonnes produced in 1996-97. The production prospects during 1997-98 crop year were reviewed and targets were finalised here at the National Conference on Agriculture for Kharif Campaign, 1998. The conference noted the adverse agro-climatic conditions and its impact on the production of commercial crops. Production of nine major oilseeds in 1997-98 is expected to be about 24 million tonnes as compared with 25 million tonnes in the previous year. With theexpected production of 6.5 million tonnes during the current year, output is set to touch a record level, the release said. Agriculture production commissioners, agriculture secretaries, cooperation secretaries, vice chancellors of agricultural universities and director of agriculture from all states and union territories besides senior officers of agriculture and other related ministries and planning commission participated in the conference.

Indian firms bid for Nepal Tea: Kathmandu's decision to privatise Nepal Tea Development Corporation has evoked interest in the Indian tea industry. In one case, the interest is indirect because in the forefront is a Kathmandu-based Nepalese group with which a Calcutta-based tea company and its UK parent are involved as minority equity partners. But with the recent political developments in Kathmandu, the decision on privatisation of NTDC is likely to be delayed. The Nepal government wants to divest 65 per cent of its stake in NTDC, which produces about amillion kg of Orthodox and CTC tea on its 2000 hectares in its estates.

Karnataka mango yield down: Mango trade in Karnataka has dropped 20 per cent but business is brisk in major centres like Bangalore. Around 500-600 groups trade in mangoes in Karnataka, Tamil Nadu and Andhra Pradesh and turnover ranges from Rs one lakh to Rs 20 crore. The traders usually finance to lease holders who are entitled to the entire produce of the gardens. In return traders are assured of their supplies of mangoes. The fruit is then brought to main centres and auctioned.

AP plan to prevent mango losses: The Andhra Pradesh government, based on the advice of the horticultural scientists, has formulated an action plan to prevent the losses of mango crop in the state in view of the 90 per cent fall in yield this year. The average output of mangoes in AP is 10 lakh tonnes and lack of timely chemical spraying and a common disease called Anthracnose during the monsoons affected the crop. This aspect can be controlledby 50 per cent during the flowering time, a report quoting Bhasakara Rao, State Horticulture Department Assistant Director, said.

"Enhance coconut production": Goa governor Lt gen (retd) JFR Jacob stressed the need for developing coconut-based industries and enhancing coconut production. Inaugurating a two-day national seminar on "Status and prospects of coconut-based industries," the governor said though coconut-based industries help the country earn foreign exchange worth Rs 200 crore per year, growth in this sector is slow compared to other coconut producing countries. Around 150 delegates from different parts of the country are attending the seminar. The industries minister Luizin Faleiro presided over the function.