News
CPO Prices to Hit RM3,600/MT
Crude palm oil (CPO) prices will rise to RM3,600 a tonne in the next six to nine months amid bullish market sentiment, says NextView Chief Market Strategist Benny Lee. He said volume growth and appreciation of the ringgit and Chinese yuan against the US dollar indicated that the price would move up ...
Move to Boost Palm Oil-Based Biodiesel Output
THE government has disbursed RM1 million each to five petroleum companies to bolster the production of palm oil-based biodiesel. The five oil majors are Petroliam Nasional Bhd (Petronas), Shell, Chevron, ExxonMobil and BHP. Plantation Industries and Commodities Minister Tan Sri Bernard Dompok said t...
CPO Prices May Remain Firm Till Q1
MALAYSIA’S crude palm oil (CPO) prices, which are currently stable at RM2,700 a tonne, are expected to remain firm until the first quarter of 2011, due to the delay in potential yields in 2010 as a result of the the El Nino and La Nina effect. Malaysian Palm Oil Council chief executive officer...
CPO Futures End Lower on Speculative Play
CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on correction after gaining continuosly over the past week, dealers said. They said the CPO price is still on the high side and currently, traders are just into speculative play and paper trading. At close, the ...
Malaysia Mulls Cutting Diesel Subsidy
Malaysia said today it would consider cutting a diesel subsidy next year in a bid to make its biofuel industry more attractive after production of the alternative fuel virtually ground to a halt. Malaysia has aimed to become a global leader in biodiesel, but the once-vaunted industry has come to a s...
CPO Prices to Stay Above RM2,600/tonne
The average price of Malaysia’s crude palm oil (CPO) is projected to stay above RM2,600 a tonne for the rest of this year, supported by a firm crude oil price. Chief executive officer of Malaysian Palm Oil Council (MPOC), Tan Sri Dr Yusof Basiron, said the CPO price would also remain firm goin...
