PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Tuesday, January 29, 2008
Source from The Star

The Crude Palm Oil Futures Closing: Monday, 26 January 2008

(Prices are in RM/tonne)

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28 January 2008

On Monday, global edible oil complex were pressurized by weak export data from Malaysia. Weakness in crude oil prices also dampened the market sentiments, as the oil prices play a part in directing the edible oil prices as it is also used as a raw material for biofuels.

Malaysian palm oil exports fell 27.1 per cent on month in the January 1-25 period to 816,471 tonnes, cargo surveyor SGS (Malaysia) Bhd. said in an estimate on Friday. Exports during December 1-25 period were estimated at 1.12 million tonnes.

Intertek Testing Services said on Friday that palm oil exports for Jan 1 to 25 declined 29.8% to 784,439 from 1.117 million tonnes in the corresponding period in December.

At 16:38, Malaysia standard time, the most active April CPO contract on the Bursa Malaysia Derivatives Exchange traded RM 63…

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PHUSADEE ARUNMAS

Bowing to complaints from refiners about rising raw material prices, the Internal Trade Department yesterday approved an increase in cooking palm oil prices by four baht per litre. Yanyong Phuangrach, the department’s director-general, said the price would be raised from 43.50 baht per one-litre bottle to 47.50 baht to reflect rising costs of processors.

The increase was half what operators had been seeking. They proposed a hike of 8.59 baht to 52 baht per litre.

According to Mr Yanyong, the local shortage of palm oil, as well as price pressure, were expected to ease now that the Commerce Ministry has allowed imports of 30,000 tonnes of crude olein by the end of next month.

In fact, prices began falling after the import plan was confirmed two weeks ago. Local prices paid by producers for fresh palm nuts have declined to 5.80 baht…

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PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Monday, January 28, 2008
Source from The Star

The Crude Palm Oil Futures Closing: Friday, 25 January 2008

(Prices are in RM/tonne)

MONTH

OPEN

HIGH

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The Star

Monday January 28, 2008

CRUDE PALM OIL

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended a wild trading week with prices moderately lower.

Sharp losses in crude oil, soyoil and concern over US recession dragged CPO prices to a four-week low in early trading last week.

Recovery in both soyoil and crude oil prices towards mid-week triggered a strong wave of technical covering in palm and helped lift prices sharply off the week’s lows.

The sharp fall in Malaysia’s palm oil exports for the first 25 days of January had little impact on trading. Intertek Testing Services said on Friday that palm oil exports for Jan 1 to 25 declined 29.8% to 784,439 from 1.117 million tonnes in the corresponding period in December.

The April futures prices fell from a…

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NST Online

Monday, January 28, 2008

OBSERVATIONS: In a week during which world stock and commodity markets were gripped by fears of an impending US recession and jolted by news of a rogue trader at French bank Societe Generale losing US$7 billion (US$1 = RM3.24) in stock derivative trades over the past year, the Kuala Lumpur CPO futures market got caught up in the global panic of trading on emotion and extremes in speculation.

The actively-traded April 2008 contract plunged at first to an intra-week low of RM3,045 before rising in relief to news of the US Federal Reserve’s 75-point cut in the federal funds rate to 3.50 per cent, the biggest cut in US interest rates since 1984. The contract touched an intra-week high of RM3,320 before settling last Friday at RM3,255 a tonne, still down RM61 or…

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But industry needs major overhaul

POST REPORTERS

Palm-oil prices have fallen sharply since the Commerce Ministry allowed imports of fresh palm earlier this month to ease a local shortage, says a local palm-oil producer.

In the few days after the imports were approved, local prices paid by producers for fresh palm nuts declined to six baht a kilogramme from 6.80 baht, said Pongnares Vanasuwannakul, managing director of the Ta Chang Industrial Group.

Crude palm-oil prices have also declined from an average of 38-39 baht a kilogramme to 34-35 baht, slightly higher than the Malaysian market price of 32 baht, he said.

Mr Pongnares said a crucial task for the new government would be to develop an overall structure for the palm oil industry in terms of production technology and quality of crude palm oil.

The industry is facing major challenges because of fast-rising demand for…

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Sunday, 27 January, 2008, 10:10

Malaysian palm oil futures ended higher on Friday with strong gains in soya oil and the energy complex. Exports were lower, offsetting falling production. Moreover, Chinese buying in the coming weeks are expected to be lower due to Lunar New Year holidays and production to increase simultaneously.

Malaysian palm oil exports fell 27.1 per cent on month in the January 1-25 period to 816,471 tonnes, cargo surveyor SGS (Malaysia) Bhd. said in an estimate on Friday. Exports during December 1-25 period were estimated at 1.12 million tonnes.

CPO active contract corrected lower as expected. As expected, support at 3065 levels held well. However, prices structures remains indecisive on direction. Bigger picture charts suggest that unless 3355-60 Malaysian ringgit (MYR) tonne caps the upside, we can expect a corrective fall to 2895 MYR/tonne levels. But, a direct rise…

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The EU says we need them, some experts say they damage the planet. Who is right?

David Adam, environment correspondent

The Guardian,

Saturday January 26 2008

From the top of the Greenergy refinery in Immingham you can see across the Humber estuary to Hull. A hum of equipment fills the air, along with a curious smell. Popcorn.

Greenergy processes vegetable oil. It takes the gloopy juice squeezed from inside rape seeds harvested on surrounding Lincolnshire fields, strips out the waste and chemically tweaks the leftovers to make it easier to burn. Greenergy pipes almost 100,000 tonnes a year of its veggie option to ConocoPhillips and Texaco, just across the road, which mix it with their diesel fuel.

Until recently, the operation was viewed as a good thing. Because the oilseed rape plants absorb carbon dioxide, the company says the carbon…

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