News
Pakistan Reduces Duties on Palm Oil Imports
ISLAMABAD: Pakistan reduced duties on crude palm oil imports by more than 11 per cent, to 8,000 rupees (100 rupees = RM3.98) per tonne, as part of the 2010/11 budget, custom officials said yesterday. “The duty cut will come into effect from today,” said Munir Qureshi, a top Custom offici...
CPO Futures Slightly Higher But Still a Bear
OBSERVATIONS: The Kuala Lumpur CPO futures market eked out a gain last week, thanks to short-covering at the eleventh hour of trade Crude palm oil for August 2010 delivery fell in early trade to a low of RM2,425 a tonne, but short-covering emerged soon enough after that to lift it to a high of RM2,4...
Strong Commodity Prices Dampened by European Debt Crisis
After touching a high of RM2,700 per tonne in May, CPO has gradually come down to trade below RM2,500 per tonne currently. CPO, which takes its cue from the lower crude oil and soybean prices, also had to succumb to higher stock build-up and lower offtake from major overseas buyers. In the coming mo...
Steadier CPO Futures Mart Expected
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives are likely to be steadier next week in line with the uptrend in commodity prices, dealers said. They said CPO prices would be strongly influenced by the movement of soyoil and global crude oil prices. Soyoil and palm oil compete for t...
CPO Futures Rise In Line with Stronger Oil Prices
CRUDE palm oil futures closed higher on Bursa Malaysia Derivatives yesterday supported by stronger crude oil prices, a dealer said. The dealer also attributed the uptrend to strong demand for biofuel due to high crude oil prices. June rose RM22 to settle at RM2,560 a tonne, July added RM23 to RM2,51...
China Demand for Palm Oil to Pick Up
YOGYAKARTA: China will order more palm oil cargoes from July onwards to stock up for the festivals starting from September, southeast Asian exporters and Chinese traders said yesterday. Palm oil imports by the world’s No. 2 vegetable oils buyer will show only modest growth thanks to a high soy...
