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The Crude Palm Oil Futures Closing: Thurday, June 28, 2007
(Prices are in RM/tonne)
|
MONTH |
OPEN |
HIGH |
LOW |
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Tradewinds Corp Bhd expects an improvement in its core businesses with plantations and manufacturing set to be the major contributors to revenue in the years ahead, while hotels are set for an improvement.
Its chairman, Datuk Seri Megat Najmuddin Khas, said the group anticipates increases in terms of yield and production from its oil palm plantations as it has 30,000 ha yet to be planted, while a large percentage of the crop planted has yet to mature.
The group plans to plant 4,000 to 5,000 ha a year, he told a press conference after the company抯 annual general meeting today.
The group has a total landbank of 146,251 ha, of which 99,132 ha have been cultivated with oil palm. In these plantations, matured crops take up 84,173 ha.
There are no plans to acquire more land, he added.
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CPO FUTURES
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives Bhd closed softer yesterday as market sentiment was bearish following the continued downtrend of the soyabean prices on the Chicago Board of Trade overnight, dealers said.
The prices of the two commodities always move in tandem as both compete for similar export destinations.
Besides, the dealers said, the market was lower on profit-taking activities and long liquidation.
At close yesterday, July 2007 eased RM7 to RM2,448 per tonne, August 2007 declined RM12 to RM2,367, Sept 2007 decreased RM14 to RM2,334 while Oct 2007 lost RM19 to RM2,311 per tonne.
Volume declined to 8,332 lots from 9,972 lots on Tuesday while open interest rose to 81,267 contracts against 80,937 contracts previously.
On the physical market, June South lost RM30 to RM2,480 per tonne from RM2,510 previously.
| by Rupa Damodaran | ||||
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| by Zaidi Isham Ismail | ||||
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The Crude Palm Oil Futures Closing: Wednesday, June 27, 2007
(Prices are in RM/tonne)
| MONTH | OPENShare The Story :
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Jaya Tiasa continues to develop its oil palm plantations business to tap rising demand. So far, it has completed planting on 23,141ha. About 4,195ha are expected to mature in the financial year ending April 30, 2008 (FY08)….
CPO FUTURES
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives Bhd ended lower for the second straight trading day yesterday on price adjustment following the recent strong gains, said dealers.
The CPO price is about 10 per cent lower than its historic high of RM2,764 a tonne recorded early this month, they said.
Besides, the commodity is tracking the easier soyabean prices on the Chicago Board of Trade (CBOT) overnight, the dealers said.
They said prices of the two commodities always move in tandem as both compete for the same export markets.
At close yesterday, July 2007 declined RM13 to RM2,455 a tonne, August 2007 eased RM22 to RM2,379, Sept 2007 shed RM24 to RM2,348 while Oct 2007 lost RM20 to RM2,330.
Volume rose to 9,972 lots from 8,040 lots on day while open interest increased to 80,937 contracts against 80,423 contracts…
The Crude Palm Oil Futures Closing: Tuesday, June 26, 2007
(Prices are in RM/tonne)
| MONTH | OPENShare The Story :
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PUTRAJAYA: Malaysian palm oil demand from several European countries has dropped following anti palm oil campaign by environmental groups.
Plantation Industries and Commodities Minister Datuk Peter Chin however said it was not a widespread problem in
Chin was commenting on recent allegations by environmental groups in Europe…
