News
CPO Futures Closed 0.4 Percent Lower
MALAYSIAN crude palm oil futures dropped 0.4 per cent yesterday ahead of the long weekend as market participants scaled back their expectations for January exports due out next week, traders said. A big rise is key to easing inventories in the world’s number 2 palm grower from a 13-month top i...
Biodiesel Scheme Faces Delay
SUBANG: The full implementation of the mandatory biodiesel blend programme could be deferred to next year, said Plantation Industries and Commodities Minister Tan Sri Bernard Dompok. He said the ministry was still looking at the fuel’s extra cost of about four to five sen per litre, mainly due to tr...
Palm Futures Rise 0.9 Percent at Close
MALAYSIAN crude palm oil futures rose 0.9 per cent yesterday along with other markets after US President Barack Obama’s promises to boost US jobs and the economy. However, the combination of ample global vegetable oils supplies and slowing demand may keep a lid on prices and prevent further ga...
Palm Forecast Raised 7.1 Percent by BNP
Palm oil may average 7.1 per cent higher in 2010 than previously forecast, driven by supply shortages and dry weather caused by El Nino, BNP Paribas SA said. The commodity may average RM2,625 a metric ton this year, compared with an earlier forecast of RM2,450 a ton, the bank’s Michael Greenall and ...
CPO Futures Rise on Late Short Covering
MALAYSIAN crude palm oil futures rose nearly 1 per cent yesterday, bouncing back from the lowest intraday level in nearly 10 weeks on late short-covering, traders said. The upside was capped by the prospect of weak demand from key buyer China, which is needed to reduce inventories in the world’...
Palm Oil May Average US$850 In 2010
Palm oil may average US$850 a metric ton this year, more than previously forecast, as El Nino pares production and higher crude oil prices lift demand for biofuels, said Nirgunan Tiruchelvam, an analyst at Royal Bank of Scotland Asia Securities (Singapore) Pte Ltd in a report today. Tiruchelvam rais...
