News
Palm Oil May Still Hit RM4,000 Says Analyst
MALAYSIAN palm oil may still hit RM4,000 a tonne on tight stocks in the immediate term and as competing soyaoil gets increasingly channeled to the biofuel sector, said Prudential Bache Commodities analyst Anne Frick. A sell-off last week has left palm oil about 12.5 per cent below the key RM4,000 le...
CPO Futures Down on Weaker Export Data
CRUDE palm oil futures on Bursa Malaysia Derivatives ended lower in reaction to weaker export data reported by two cargo surveyors, dealers said. Societe Generale de Surveillance said Malaysia’s palm oil exports in February declined 9.1 per cent to 1,092,620 tonnes from 1,202,368 tonnes shippe...
Supply Fears to Boost CPO Futures
Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trend higher next week on supply concerns and other external factors, traders said. Interband Group of Companies senior trader, Jim Teh, said CPO prices are expected to be traded between RM3,400 and RM3,600 next week. Current...
Biodiesel B5 to be Inroduced in Stages
THE government remains committed to implementing the biodiesel B5 mandate in four months although crude palm oil is trading at high prices. It has allocated RM200 million to put up blending facilities nationwide to blend diesel with palm methyl ester from June 2011 to kick-start sales of the green f...
CPO Futures Rebound After Two Days of Losses
CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher yesterday prompted by bargain hunting after two days of consecutive losses, a dealer said. March 2011 rose RM59 to RM3,565 a tonne, April 2011 increased RM62 to RM3,542 while May 2011 and June 2011 added RM60 each to RM3,515 and RM3,...
Plantation Firms in Sarawak to Pay More to Recruit New Indonesian Workers
15% more in wages to recruit new Indonesian workers KUCHING: Plantation companies in Sarawak will have to pay about 15% more in wages to recruit new Indonesian workers soon. Indonesian consul/counsellor Rafail Walangitan (pic) said the minimium daily wages of Indonesian plantation workers in Sarawak...
