PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Friday, July 4, 2008
Source from The Star

The Crude Palm Oil Futures Closing : Thursday, 3 July 2008

(Prices are in RM/tonne)

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Friday - July 04, 2008

CPO FUTURES

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday, as it continued tracking the strong crude oil price which soared to a new record of US$146 per barrel, a dealer said.

According to the dealer, the local futures market which stumbled during the midday session, returned to its strong position after receiving a boost from stronger external factors.

The benchmark September contract closed higher by RM19 at RM3,635 per tonne compared to Wednesday’s closing of RM3,616 per tonne.

The dealer also said that local market took the cue from the stronger Chicago Board of Trade (CBOT).

“Our CPO prices discount more than US$300 per tonne compared to soyoil.

This situation continued to attract more foreign players into the market,” he added.

The dealer said he expected CPO to be traded above RM3,700 per tonne today.

Meanwhile, for…

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By Catherine Makino

TOKYO, Jul 4 (IPS) - Japan wants countries to reconsider biofuels as an alternative technology to fight climate change by using fuel cell cars at the Group of Eight (G8) Summit on Jul. 4-7. The vehicles will transport the leaders of the world’s major industrialised nations when they gather on the northern Japanese Island of Hokkaido.

Honda will display its most advanced environmental technologies with its FX Clarity and Civic Hybrid. They run on a blend of fuel made from straw.

The world is increasingly turning to biofuels as a way to ease pressure from rising oil prices. But critics say biofuels may create more greenhouse gas than they save. Clearing natural forests to plant fuel plantations releases more carbon dioxide (CO2) emissions, and using food crops for fuel production is at odds with…

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By Lindsey Partos

02-Jul-2008 - Swelling domestic stocks for Malaysian palm oil, widely used by bakers, left crude palm oil futures closing lower on Monday, offering a slight relief for prices.

According to Malaysian paper The News, the benchmark September contract on the Bursa Malaysia Derivatives Exchange fell 25 ringgit to close at 3,598 ringgit (€699) a tonne.

Prices for all vegetable oils, including palm oil, have soared in recent months, with many figures doubling or tripling due to squeezed supplies, rocketing energy costs and competition for the raw material from non-food industries, notably for biofuels.

Figures from the World Bank earlier this month stated that palm oil prices had risen 2.9 per cent from May to June, due to reduced output in Malaysia and strong demand in India. Prices for palm oil have risen by almost a third since October 2007, although…

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KUALA LUMPUR: Sharp falls in soyoil futures at China’s Dalian Commodity Exchange after a large trading firm liquidated contracts weighed on palm oil prices, currently 19 per cent off a record high of 4,486 ringgit per tonne hit in March.

The benchmark September contract on the Bursa Malaysia Derivatives Exchange settled up 19 ringgit at 3,635 ringgit ($1,113) after trading lower earlier on.

“Palm oil got a helping hand from record crude oil and with expectations of better demand in the coming weeks, there might be a reversal of fortunes for the market…since it has been rather weak,” said a trader with a local commodities broker.

Other traded months rose between 19 and 43 ringgit on the Malaysian exchange. Overall trade dropped to 8,439 lots of 25 tonnes each from the usual 10,000 lots.

The most-active January 2009 soyoil contract on…

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PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Thursday, July 3, 2008
Source from The Star

The Crude Palm Oil Futures Closing : Thursday, 2 July 2008

(Prices are in RM/tonne)

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Thursday - July 03, 2008

CPO FUTURES

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday influenced by rising crude oil and soyaoil prices overnight, dealers said.

They said the rising crude oil price, which climbed above US$142 per barrel yesterday, had contributed to the stronger performance of CPO which could be used as raw materials for biodiesel.

A dealer said the local market would continue to rely on external factors for direction.

At the close, July 2008 gained RM27 to end at RM3,545, August 2008 added RM40 to RM3,605, September 2008 rose RM41 to RM3,616 and October 2008 surged RM44 to settle at RM3,624 per tonne.

Volume fell to 6,805 lots from 7,328 lots Tuesday. Open interests, however, rose to 44,339 contracts from 44,053 contracts previously.

On the physical market, July South went up by RM80 to…

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The Star

Thursday July 3, 2008

By LAALITHA HUNT

PETALING JAYA: Kim Loong Resources Bhd expects more than 10% increase in production from both its plantation and milling operations for the financial year ending Jan 31, 2009.

Managing director Gooi Seong Heen said the outlook for the current year remained positive with crude palm oil (CPO) price maintaining its upward trend.

“We expect to do better this financial year compared with the last,” he told StarBiz yesterday.

The group continued to benefit from the high CPO prices and saw revenue more than double to RM136.3mil for the first quarter ended Apr 30 against RM68mil in the previous corresponding period.

Net profit increased to RM21mil for the first quarter ended Apr 30 from RM4.6mil previously.

The company attributed the higher profit to improved margins of the mills and…

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PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Tuesday, July 1, 2008
Source from The Star

The Crude Palm Oil Futures Closing : Monday, 30 June 2008

(Prices are in RM/tonne)

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Tuesday - July 01, 2008

CPO FUTURES

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday as the market reacted to the negative palm oil data for June 2008 released by two cargo surveyors, dealers said.

Societe Generale de Surveillance reported that exports of Malaysian palm oil products for June 2008 fell 12.5 per cent to about 1,106,635 tonnes from 1,264,757 tonnes last month.

Intertek Testing Services estimated a 10 per cent drop to 1,086,572 tonnes from 1,209,475 tonnes previously. The dealers said that the market also saw some profit-taking activities after last Friday’s rally.

“The market fundamentals are still strong but players are cautious as they waiting for freah leads. I think today the market will depend on the Chicago Board of Trade for direction,” one of the dealers said.

At the closing of CPO futures trading, July 2008 dropped RM30…

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