18 April, 2014
Palm Oil Down on Profit-taking
KUALA LUMPUR: The crude palm oil futures contract on Bursa Malaysia Derivatives closed lower yesterday on profit-taking after the recent rally. A trader said the downside was somewhat capped due to positive sentiment still persisting as players expect export demand for palm oil to improve. Chartwise, the RM2,635-level remains as the immediate support.
17 April, 2014
CPO Futures Extend Rally for 3rd Consecutive Day
KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives extended their rally for the third consecutive day yesterday on the back of improved export demand. A trader at Phillip Futures said a sustained move above RM2,710 for July 2014 contract would extend the rally towards RM2,745-RM2,795 levels, while the RM2,635 level would remain as the immediate support.
16 April, 2014
Palm Oil Prices Seen Rising
PETALING JAYA: The prolonged dry weather in the country may result in crude palm oil (CPO) prices spiking by 30% from current levels of above RM2,600 per tonne. Public Invest Research analyst Chong Hoe Leong said that the price spike was a possibility as “any El Nino event usually would take four to five months to confirm.” The dry weather pattern still has not been reflected in the price of CPO, which is seen struggling at current levels.
16 April, 2014
Palm Futures Rise on Export Data
KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher yesterday, influenced by firm export data, a dealer said. Phillip Futures Sdn Bhd Derivative Product specialist David Ng said the rise was in tandem with gains on the Chicago Board of Trade.
15 April, 2014
CPO Futures End on Firmer Sentiment
KUALA LUMPUR: Crude palm oil (CPO) futures contract Bursa Malaysia Derivatives rebounded from its recent sell down amid firmer sentiment for the commodity. The contract ended higher on the back of stronger fundamentals despite higher inventories. Local research houses were positive over prices in the mid to long term due to sustainable demand seen from the Indonesian biodiesel industry and stable food demand.
14 April, 2014
Call to Commit to Sustainable Palm Oil
KOTA KINABALU: The Malaysian Palm Oil NGO Coalition (MPONGOC) has called on government-linked companies and banks to show their commitment towards developing a sustainable palm oil industry. The coalition said in a statement that all Malaysian banks and government-mandated institutions that invest in growth sectors must play a role in improving social and environmental standards in the palm oil industry.
14 April, 2014
Lower soybean output and better palm oil exports to keep CPO prices above RM2,600: Analysts
PETALING JAYA: Lower soybean production and better palm oil exports are likely to sustain crude palm oil (CPO) prices above RM2,600 a tonne on average this year, with most analysts putting the figure at RM2,700. MIDF Research has maintained its positive outlook on the plantation sector, expecting CPO prices to average RM2,700 a tonne this year. The United States Department of Agriculture (USDA) has projected a slight decline in global soybean production in April to 284 million tonnes, down 1.4 million from last month. This was mainly due to the expectation of lower soybean production in Brazil, which is one of the major world soybean producers.
11 April, 2014
CPO Futures End Marginally Lower
KUALA LUMPUR: Crude palm oil futures contract on Bursa Malaysia Derivatives closed marginally lower yesterday, upon the release of a bearish set of data by the Malaysian Palm Oil Board.
11 April, 2014
Palm oil to recover, may hit RM2,900
BANGI: Palm oil, which is currently trading at around RM2,600 per tonne, is sizeably undervalued and is set to recover, a top oils analyst said yesterday. Hamburg-based Oil World executive director Thomas Mielke believes that palm oil prices have reached the floor and are set to recover in the months ahead, probably reaching or surpassing RM2,900 per tonne.
10 April, 2014
Planning for Resource Sustainability
NATURAL RESOURCE HUSBANDRY: Gaps in the country’s database on natural resource need to be updated for long term strategic planning for maintenance and sustenance of our environment IT may be superfluous and late to comment on the water supply condition in some parts of the country. Some areas are experiencing water rationing. The matter is part of a bigger issue of the need to efficiently manage our natural resources, forestry and water resources, in particular.