News
Palm Oil Slips on Higher Stock Concerns
MALAYSIAN crude palm oil futures edged 0.2 per cent lower on Thursday after an industry analyst said the recent rally was overdone and did not reflect rising stock levels. The benchmark February contract on the Bursa Malaysia Derivatives Exchange shed RM6 to RM2,483 (US$735.9) by midday, after falli...
Analyst : Palm Oil Output Growth to Slow on El Nino
NUSA DUA (Bali): Indonesia and Malaysia, the world’s largest palm oil producers, may experience slower output growth next year due to resurgent El Nino weather conditions, a top industry analyst said yesterday. Drier weather from El Nino may hit yields, leading to tight palm oil supplies just ...
CPO Futures End Slightly Lower
CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives declined slightly yesterday, tracking losses in the crude oil market, a dealer said. Crude oil fell to below US$78 (US$1.00 = RM3.41) a barrel on concerns over weak demand. “The CPO market has been looking at external factors su...
Palm Set to Rise ‘Sharply’ in 2010
Palm oil prices are poised to rise “sharply” next year as demand remains robust amid potential supply disruptions from El Nino, according to Dorab Mistry, director of Godrej International Ltd. “Production has peaked this year and we’re entering the seasonal low-production period,” Mistry said in an ...
KL Kepong Climbs on JPMorgan Forecast
Kuala Lumpur Kepong Bhd, a Malaysian palm oil producer, rose the most in almost two months in Kuala Lumpur trading after JPMorgan Chase & Co raised its share forecast to RM18.10 from RM16.20. The stock climbed 2.7 per cent to RM15.86 at 9:12 a. local time, set for its biggest gain since October ...
Palm Oil Down on Weak Soyoil
MALAYSIAN crude palm oil futures edged 0.9 per cent lower on Tuesday on weaker soyoil prices, while some traders waited by the sidelines for a major industry conference to begin this week. The benchmark February contract on the Bursa Malaysia Derivatives Exchange traded down RM23 at RM2,449(US$722.8...
