KUALA LUMPUR: Malaysian crude palm oil futures jumped more than 2% on Thursday to a new high on a combination of concerns over global supplies from South America and surging demand from Asia. But the market lost some of the gains in the evening session as players booked profits.

The benchmark March contract on the Bursa Malaysia Derivatives Exchange finished up 17 ringgit at 3,097 ringgit ($929) per tonne after hitting a high of 3,150 ringgit.

Palm oil prices have risen more than 55% so far this year, while soya oil prices have surged close to 68 percent. Shares of Malaysian palm plantation firms, which have hit new highs on bullish prices, extended gains on Thursday.

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PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Thursday, December 27, 2007
Source from The Star

The Crude Palm Oil Futures Closing: Wednesday, 26 December, 2007

(Prices are in RM/tonne)

MONTH

OPEN

HIGH

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By KATHY FONG

PETALING JAYA: It is definitely the time for oil palm planters to celebrate, given that the crude palm oil (CPO) three-month futures contract price soared to a historic high of RM3,080 per tonne yesterday – nearly quadruple their production costs.

Analysts said even the least efficient plantation companies were making good profits, needless to say the well-managed ones like IOI Corp Bhd and KL Kepong Bhd.

In the spot market, January South closed yesterday at a new high of RM3,090 versus RM3,030 on Monday.

The record high prices are in tandem with the bullish trend on other edible oils such as soybean oil.

The most actively traded soybean contract for May delivery gained 200 yuan, or 2%, to close at a high of 10,146 yuan (RM4,629) a tonne in China’s Dalian Commodity Exchange yesterday.

According to Bloomberg, agriculture products…

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KUALA LUMPUR: Malaysian palm oil surged to a record high on Wednesday, gaining close to 2%, as surging demand for food and fuel amid fears of falling production raised concerns about the supply outlook next year. And traders said prices of palm oil, used in products ranging from cosmetics and confectionaries to biodiesel, could rise further eary next year as fears of reduced soya plantings in the United States lift soybean prices to 34-year highs.

“It is mainly soybean oil which is pushing up the market and crude oil is also inching up,” said a trader with a domestic brokerage. By the midday break, the benchmark March contract on the Bursa Malaysia Derivatives Exchange was up 48 ringgit at 3,078 ringgit ($923) a tonne. Minutes before that, it hit 3,080 ringgit, surpassing the previous high of 3,068 ringgit it hit in…

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The Star

Thursday December 27, 2007

Crude palm oil prices are expected to be well-supported by structural changes in global supply and demand for related commodities, says KL Kepong group plantations director Roy Lim Kiam Chye.

Roy Lim Kiam Chye

ROY LIM KIAM CHYE

Group Plantations Director
Kuala Lumpur Kepong Bhd

WHAT are your views on the escalating risks in the plantation sector’s crucial growth parameters such as the scope of expanding oil palm areas, control of harvesting costs and maintaining high yields?

I would rather use the word challenges than risks that are associated with expansion of oil palm areas in Malaysia. These include the lack of suitable land and experienced planters, and the increasing difficulty of recruiting labour for plantation operations.

The best lands have long been acquired, and the choice of expanding would be limited to either…

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G. Chandrashekhar

Mumbai, Dec. 26 Import of palm group of oils through any port in Kerala has been banned. A notification dated December 24, 2007 issued by the Director-General of Foreign Trade (under the Ministry of Commerce) has modified the import policy.

Accordingly, palm oil and its fractions, whether or not refined but not chemically modified, can be imported into the country subject to condition that import will not permitted through any port in Kerala.

Earlier, import through Kochi was banned; and now, it is extended to all ports in the State. Palm group of oils include palm oil, palmolein and palm kernel oil.

This restriction is unlikely to make any big difference to the market in terms of availability and prices, according to traders. This is because instead of direct import through Kerala based ports, palm oils will flow into the…

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Thursday, December 27, 2007

ISLAMABAD: Pakistan imported 100,000 tonnes palm oil till Dec 25 and emerged the third largest importer of the commodity.

China is the biggest importer of palm oil with the import of 303,000 tonnes palm oil during the same period and the European Union is the second largest importer with 260,000 tonnes of palm oil imports, Geo TV reported.

Thus, a total of 1.17 tonnes of palm oil were imported from Malaysia till Dec 25, which is 0.8 per cent less as compared with last year. Malaysia is the world’s largest producer of palm oil. The importers have to pay around 45 per cent duty on import value besides paying 50 per cent import landing tax to the government.

Pakistan imports mostly Malaysian palm oil and olein to meet domestic demand of 1.99…

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The Star

Thursday December 27, 2007

By ZAZALI MUSA

JOHOR BARU: Johor Corp (JCorp) says the current floods in Johor have not affected oil palm plantations under its public-listed subsidiaries, Kulim (M) Bhd and Sindora Bhd.

JCorp chief executive officer Tan Sri Muhammad Ali Hashim said its estates in Batu Pahat, Kota Tinggi, Kluang, Kulai, Segamat and Sedenak were all spared.

To date, Kulim has 37,606ha of oil palm estates in Kota Tinggi, Kluang, Kulai, Segamat and Sedenak while Sindora has 6,273ha in Batu Pahat and Kluang.

“So, we are unlikely to revise our growth target for fresh fruit bunch (FFB) harvest for next year,” Ali told StarBiz after subsidiary Damansara Realty Bhd’s EGM yesterday.

Ali said only small parts of the estates were stagnated with water during the current raining season but harvesting work in these areas was still being carried out.

He…

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By Samantha Tan

KUALA LUMPUR, Dec 24 (Bernama) — A fruitful year awaits Malaysia’s non-oil primary commodities especially for crude palm oil (CPO), rubber and tin boosted by intense demand despite the slower global economic environment forecast for 2008.

OSK Investment Bank plantation analyst Alvin Tai said that due to a strong demand environment and a shortfall in supply, it is likely to lead to a steep rise in CPO prices.

He said demand and prices are likely to go up, mainly because more rapeseed oil, soyoil and corn oil are being diverted into the bio-energy sector, as a result of which more palm oil is needed to offset the deficit in the food and other sectors.

“It is anticipated that next year the average price for CPO will be above the RM2,750 per tonne level as the current price uptrend will continue due to a…

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PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Monday, December 24, 2007
Source from The Star

The Crude Palm Oil Futures Closing: Friday, 21 December, 2007

(Prices are in RM/tonne)

MONTH

OPEN

HIGH

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