News
CPO Futures Surge to 30-Month High
CRUDE palm oil futures prices surged to a more than a 30-month high yesterday amid worries over supply shortage due to the monsoon season and a firmer Chinese soya oil market. At the close, December 2010 rose RM70 to RM3,700 a tonne, January 2011 increased RM100 to RM3,770 , February 2011 gained RM8...
Palm Oil at 30-Month High on Supply Fears
Palm oil futures climbed to the highest level in almost 30 months on speculation that a drop in November output and stockpiles in Malaysia, the second-largest producer, may strain global supplies. February-delivery futures gained as much as 1.1 percent to 3,671 ringgit (US$1,172) a metric ton, the h...
Consolidation Seen for CPO Futures
Crude palm oil (CPO) futures on the Bursa Malaysia Derivatives are expected to trade off their recent record highs next week as the market is expecting a drop in exports, a dealer said. He said the market was likely to consolidate next week after touching a 29-month high on Thursday. “Malaysia...
CPO Prices Ended Higher
CRUDE palm oil (CPO) prices ended higher on Bursa Malaysia Derivatives yesterday despite a larger-than-expected drop in overseas market, dealers said. Cargo surveyor, Intertek Testing Services, said exports of Malaysian palm oil products for December 1-10 fell 23.7 per cent to 298,005 tonnes from 39...
Palm Futures Fall as Investors Take Profits
MALAYSIAN crude palm oil fell yesterday for the first time in over a week on a firmer US dollar and weaker technicals, and as traders took profits from the run of gains. But the market, which has risen 34 per cent in 2010, may rally further if more monsoon rains lash oil palm estates in […]
CPO Futures Hit 29-Month High
MALAYSIAN crude palm oil hit a 29-month high yesterday as a weaker dollar spurred risk-taking and on spillover support from wheat prices, which are being bolstered by concerns over Australia’s grains output. The dollar was on the defensive yesterday after the US Federal Reserve said it was open to i...
