Website Translation

Wednesday, July 1, 2009

CPO PRICE MOVEMENT 12 MONTH TILL JUNE'09

Sunday, June 21, 2009

PALM OLEIN PRICE 22nd JUNE

Friday, June 19, 2009

CPO PRICE JUNE 1st - 18th

Palm Oil Price Drops

Palm futures tumble as crude falls

June 18th, 2009

Business Times

Thursday - June 18, 2009

CPO FUTURES

Palm oil futures yesterday declined as crude oil dropped, curbing the demand outlook for use of vegetable oils in alternative fuels.

The tropical commodity tumbled after gaining as much as 0.6 per cent earlier. Crude oil at more than US$72 a barrel supported palm oil between RM2,460 and RM2,500 a metric ton, CIMB Futures trader S Chandran said by phone.

“When crude oil stopped rising above US$72 and started stabilising between US$70 and US$72, crude palm oil had no additional support to push higher above a price of 2,500,” he said from Kuala Lumpur.

Palm oil for September delivery dropped as much as 1.4 per cent to RM2,366 a ton on the Malaysia Derivatives Exchange and traded at RM2,370 at 5.08 pm.

Crude oil for July delivery in New York fell 0.4 per cent to US$70.20 a barrel as of 5.06 pm Singapore time after earlier rising to US$71.28. The contract touched US$72.77 on Tuesday.

Rising palm oil supplies are also weighing on the price, Chandran said.

Stockpiles in Malaysia, the world’s second- largest producer, increased 5.7 per cent to 1.37 million tons in May from a month earlier, as output expanded and exports declined, the Malaysian Palm Oil Board said June 10.

“This month onwards, the production is going to keep rising, demand has slowed down a bit, anticipating the stocks to keep building up in the next two months until September,” he said.

Palm oil was likely to move to less than RM2,300 in the “near term,” Chandran said.

Thursday, June 11, 2009

RBD PALM OLEIN PRICE 11th JUNE


RBD PALM OLEIN PRICE 11th JUNE

CPO PRICE 1st to 9th JUNE

CPO PRICE 1st - 9th JUNE

Wednesday, June 10, 2009

CPO PRICE FUTURES FLAT, FALLING EXPORTS

JUNE 10, 2009 
Crude palm oil futures end flat on talk of falling exports

NEWS SOURCE:

www.btimes.com.my
RELATED PALM OIL NEWS


Malaysian crude palm oil futures closed flat yesterday, giving up gains of up to around 1.6 per cent, as speculation over falling exports in the first 10 days of June sparked some late selling, traders said.

“We have to blame export rumours for the sell-off,” said a trader at a Kuala Lumpur-based brokerage.

The benchmark August contract on the Bursa Malaysia’s Derivatives Exchange settled up RM5 or 0.2 per cent, to RM2,465 per tonne, after trading as high as RM2,504. Overall volume was 15,648 lots of 25 tonnes each.
Cargo surveyors will report June 1-10 palm oil exports by the Southeast Asian country today. 

The Malaysian Palm Oil Board (MPOB) will also announce May palm oil output, exports
and stocks today.
“We heard ten day exports at 289,000 tonnes, a drop of about 28 percent (from the same period in May). It is surprising because most people only think of (a) marginal fall to like 350,000 tonnes,” the Kuala Lumpur brokerage trader said.
Weaker demand from main buyers China and India at a time palm trees are entering a higher production season in the year could boost palm oil stocks in the world’s number 2 producer this month.

Palm prices inversely correlate to palm oil stocks. A drop in palm stocks to a 22-month low in April, coupled with lower yields in rival soybeans in South America, have played a key
role in supporting the price of the tropical oil, which has gained 45 per cent this year.

A Reuters poll on Monday forecast that Malaysia’s May palm oil stocks may drop 2.3 per cent to a 23-month low at 1.26 million tonnes, as exports and domestic demand were slightly higher than output, but the pace of decline is slowing.

In the Malaysian physical market, palm oil for June delivery was traded at RM2,480-RM2,510 in the southern and central regions.
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