News
CPO Prices Rise to Three-Month High
PETALING JAYA: The price of crude palm oil (CPO) for May delivery traded on the Bursa Malaysia Derivatives Exchange rose to the highest since the beginning of the year yesterday as traders bet on rising demand from the emerging markets and uncertain weather conditions. CPO gained 1.32% or RM35 to se...
El Nino May Lift CPO Futures Prices
KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Derivatives Exchange will likely be traded at RM2,800 to RM3,200 per tonne after July as the El Nino hot weather may result in a production shortfall in the second half of this year, said international palm oil expert Dorab Mistry. Mistry, who is G...
Palm Oil Gains Amid Supply Concerns
Palm oil futures gained as exports from Malaysia, the second-biggest grower, rose amid threats of dry weather limiting supplies this year. Demand for the tropical oil will grow faster than output this year as El Nino curbs supply and Asian consumption gains, Nagaraj Meda, managing director at TransG...
Palm Oil Exports Likely to Rise
Malaysia’s palm oil exports in 2010 are expected to surpass last year’s RM49.5 billion, given the higher average prices of crude palm oil (CPO). Malaysia, the world’s second largest palm oil producer, exported RM49.5 billion worth of palm oil and palm oil products to over 150 count...
Jakarta Ruling May Hurt Palm Oil Firms
ABOUT 400 palm plantation firms in Indonesia risk having 900,000ha of plantations declared illegal by the forestry ministry if they cannot show permits to clear the land, a top industry official said yesterday. Indonesia, the world’s largest palm oil producer, has a total of 7.9 million hectar...
May Debut for Palm Oil Futures in Dollars
CME Group Inc, the world’s largest futures exchange, will introduce a dollar-denominated palm oil futures contract this year to try and take advantage of rising global demand for the edible oil. The product is scheduled to begin trading on May 24 in Kuala Lumpur, the Malaysian capital, with final se...
