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The Crude Palm Oil Futures Closing: Friday, 28 December, 2007
(Prices are in RM/tonne)
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MONTH |
OPEN |
HIGH |
Share The Story :
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The Star
Monday December 31, 2007
By G.M. Teoh
CRUDE PALM OIL
CRUDE palm oil futures price at the Bursa Malaysia Derivatives surged to a new high on short-covering activities last week fuelled by higher soyoil and strong advances in crude oil prices.
Slight supply squeeze in the physical crude palm oil market after the monsoon flooding helped boost sentiment. Crude oil at the NYMEX rose above the US$97 per barrel briefly and threatened to re-test it record high level.
Higher Malaysian palm oil exports during Dec 1 to 25 added fuel to the bullish sentiment. Societe Generale de Surveillance estimated exports higher by 1.1% to 1.12 million tonnes from 1.10 million tonnes in the same period in November.
The March futures price jumped from a weekly-low of RM3,000 and established a fresh historic high at RM3,150 on Thursday and…
By Miranda La Rose
Proposals from 11 companies interested in investing in developing a local bio-fuel/ agro-energy sector are likely to be evaluated early in 2008 with assistance from the Inter-American Development Bank (IDB) and the UN’s Econo-mic Commission for
Ten of the proposals are from eight different countries and one is from a local potential investor.
The process of evaluation and implementing a comprehensive strategic plan for local bio-energy investment and production, would cost an estimated US$1.2 million which would be raised with grant funding from the IDB and counterpart funding from the government.
In an interview on Thurs-day, Minister of Agriculture Robert Persaud told the Stabroek News that the Guyana Office for Investment (Go-Invest) has received the proposals, which are in varying stages of development since additional information were still being sought from the potential…
By Alexander Rheeney in
The island is currently at the center of a tussle between Malaysian oil palm developer Vitroplant Ltd. and villagers who oppose the development of a 60,000 hectare oil palm estate.
It is understood that scientists from the
The rocks are being exhumed naturally from depths of about 100 km to the surface; a geological process that scientists say continues today but is poorly understood.
Coincidentally, the island is also home…
By Toby Shelley
The oil palm sector may retain a fusty, colonial image but the surge in demand for biofuels and cooking oil has led to growing interest from British investors in plantation companies.
This month, the
The other three London-listed companies are all on Aim. They have shown share prices rise of up to 30 per cent in the past year. With spot prices for crude palm oil trading at more than $900 a tonne, against $600 a year ago, and a long-run average of about $400, this is hardly surprising.
Richard Lucas, an analyst at Ambrian Partners, says there may be a speculative element in…
Business Times
Friday - December 28, 2007
Out of the 6,000 job opportunities, some 4,000 jobs can be created in upstream activities such as tanning, meat processing, and feed milling.
In a statement, Basri said the project will also help develop the country’s small and medium-sized industries as well as increase
The national target is to expand cattle population to 1.49 million heads by 2010.
“By rearing cattle in oil palm plantations, implementation can also be speeded up as…
Business Times
Friday - December 28, 2007
CPO FUTURES
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives Bhd hit an all-time high for the second day in a row yesterday, tracking the overnight gains on the Chicago Board of Trade soyabean futures, which rose to a 34-year high, dealers said.
The benchmark contract month March 2008 rose RM70 to an intra-day high of RM3,150 per tonne, surpassing its previous all-time high of RM3,080 per tonne set on Wednesday.
However, profit-taking activities in the afternoon session dragged down the benchmark contract price to close at RM3,097 per tonne, up RM17.
“The demand for palm oil is also increasing right now especially from
At close, CPO futures contract for Jan 2008 rose RM13 to settle at RM3,081 per tonne, Feb 2008 increased RM13 to RM3,088 and April 2008 advanced RM7 to…
Business Times
Thursday - December 27, 2007
by Ooi Tee Ching
The current floods are expected to bring in more earnings for plantation companies as the overall supply shortage keep prices buoyant.
In the January-November period, high prices pushed up Malaysian palm oil exports to RM39.89 billion. Palm oil futures on the Bursa Malaysia Derivatives Exchange have leapt past RM3,000 a tonne.
In Johor Baru, Kim Loong Resources Bhd said its estates had not been affected by the floods.
“There is hardly any crop loss. Our estates are not affected. The flood damage is in Muar, not so much here in Johor Baru,” its managing director Gooi Seong Heen said.
In
He added…
Business Times
Thursday - December 27, 2007
CPO FUTURES
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives Bhd hit a new high yesterday on concern that output may reduce by 18 per cent, dealers said.
The benchmark contract month March 2008 rose RM50 to an all-time high of RM3,080 per tonne at close yesterday, surpassing the previous high of 3,068 per tonne on Nov 26.
“Traders are worried over supply as floods have hit the major palm oil producing countries like
He said the higher oil and soyabean oil prices also provided a boost to the local market.
In the Asian trade, oil prices increase dto US$94.62 (US$1 = RM3.37) per barrel.
The…
MUMBAI: Edible oil prices have gone up in the domestic market following a firm international soya complex and palm oil prices. Prices have gone up by Rs 1-Rs 1.5 per kg for all edible oils since the past 15 days despite good supplies.
In Mumbai local market, the palm oil prices are ruling at Rs 525 per 10 kg, soya oil prices are at Rs 560 per 10 kg while cotton seed oil prices are at Rs 540 per 10 kg levels. All prices are inclusive of taxes. A prominent Mumbai-based edible oil trader said that prices have moved up tracking firm international market.
“There is no supply crunch in the domestic market,” he said. He added that trade in soya oil is currently low as traders prefer to buy cotton oil which is cheap with 90,000-100,000 tonnes of it arriving in the market.
Locally, the prices…