News
CPO Futures Inch Up Above RM3,000
Crude palm oil futures prices closed higher yesterday, as the commodity inched up above RM3,000 a tonne, dealers said. The Chinese soyaoil futures also hit a two-year high. At the close, November 2010 rose RM5 to settle at RM2,995 a tonne, December 2010 was unchanged at RM2,990 , January 2011 was RM...
Palm Oil Breaches RM3,000 Since 2008
Palm oil advanced to more than RM3,000 (US$963) a metric ton for the first time since 2008. The most-active contract gained as much as 1.2 per cent to RM3,021 a ton on the Malaysia Derivatives Exchange. Palm oil is the world’s cheapest and most consumed edible oil. — Bloomberg Source: Business...
Palm Oil May Rally To RM3,330: Phillip
Palm oil, which traded at more than RM3,000 ringgit (US$963) a metric ton today for the first time since 2008, may extend its rally on increased Chinese demand and bullish technical signals, according to Phillip Futures Pte. “The next hurdle is detected at the 3,330 level,” Ker Chung Yang, an invest...
CPO Futures Rise on Exports Data
CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday following stronger export data for the first 20 days of this month, dealers said. Malaysia’s palm oil export figures released by cargo surveyor Societe Generale de Surveillance for October 1 to 20 rose 5....
Palm Oil Output to Climb, Fry Says
Global palm oil output will increase strongly, driving an increase in stockpiles in Malaysia, the second-largest producer after Indonesia, according to James Fry, managing director of LMC International. The increase will widen the discount that palm oil trades at compared with soybean oil, Fry said ...
Malaysia Oct 1-20 Palm Exports Up 4.2 Percent
Malaysia’s palm oil exports rose 4.2 per cent in the first 20 days of October, independent market surveyor Intertek said. A total of 944,700 metric tons of the commodity were tracked on October 1 to 20, versus 906,688 tons in the same period in September, Intertek said in an e-mail statement in Kual...
