Tue May 27

MUMBAI, May 27 (Reuters) - Indian soybean and rapeseed futures are likely to open higher on Tuesday, tracking gains in palm oil futures in Malaysia, analysts said.

Rapeseed and soybean are crushed to obtain edible oils like rapeseed oil and soyoil, which competes with palm oil.

At 9:22 a.m. palm oil August futures KPOQ8 on Bursa Malaysia Derivatives was up 1.39 percent at 3,724 ringgit.

Soybean July futures NSBN8 on the National Commodity and Derivatives Exchange ended down 0.51 percent at 2,445.50 rupees per 100 kg on Monday, while rapeseed September futures NRSU8 ended down 2.46 percent at 654.90 rupees per 20 kg. (Reporting by Debiprasad Nayak; Editing by Prem Udayabhanu)

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By Muin Abdul Majid

DUBAI, May 27 (Bernama) — A palm oil trade fair began here Monday as Malaysia moves to sustain and enhance its palm oil trade with Middle East countries, with the Malaysian Palm Oil Council (MPOC) projecting the Southeast Asian country’s palm oil exports to the United Arab Emirates (UAE) to hit 400,000 metric tonnes this year.

In his keynote address at the inaugural Malaysia-UAE Palm Oil Trade Fair and Seminar (POTS) Dubai 2008, MPOC chairman Datuk Seri Lee Oi Hian highlighted the fact that the Middle East is a very important market for Malaysian palm oil, the region being one of the world’s largest vegetable oil consumers.

“It requires some 10 million tonnes of oils and fats annually, of which eight million tonnes or 80 percent are imported. The UAE, Iran, Turkey and Egypt rank…

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By GLENN HUROWITZ

Special to the Los Angeles Times

While showering a few weeks ago, I realized I had run out of conditioner. So I reached up and grabbed my wife’s bottle — Clairol Herbal Essences Rainforest Flowers, “with essences of nourishing palm.”

The label caught me slightly by surprise. As an environmental journalist, I’ve been writing about the ecologically destructive effect of palm oil for some time now.

Whether it’s used as an additive in soap, cosmetics or food, or processed into a biofuel, palm oil is one of the worst culprits in the climate crisis. Most of it comes from the disappearing, ultra-carbon-rich rain forests of Indonesia and Malaysia, of which 25,000 square miles have been cleared and burned to make way for palm oil plantations.

That burning releases enough carbon dioxide into the air…

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KUALA LUMPUR: Malaysian crude palm oil futures rose 1.6 per cent on Tuesday, extending five days of gains as soy oil markets started to rally on a mix of weather concerns and strong crude oil prices.

Palm oil’s steady rise over the week was prompted by analysts’ forecasts that it may restart its rally on record crude oil prices. The vegetable oil is roughly 16.8 per cent off record highs of 4,486 ringgit in March, but has gained 22.3 per cent so far this year.

The benchmark August contract on the Bursa Malaysia Derivatives Exchange settled up 57 ringgit to 3,730 ringgit ($1,151) per tonne.

Other traded months rose between 3 and 64 ringgit. Traded volumes stood at 8,486 lots of 25 tonnes each, easing from the usual 10,000 lots.

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Tue May 27, 2008

MUMBAI, May 27 (Reuters) - Indian rapeseed and soybean futures opened up on Tuesday tracking gains in the palm oil futures in Malaysia and on short-covering after the previous session’s fall, analysts said.

At 10:28 a.m. rapeseed September futures NRSU8 on the National Commodity and Derivatives Exchange rose 1.22 percent to 662.90 rupees per 20 kg, while soybean July futures NSBN8 rose 0.76 percent to 2,465 rupees per 100 kg.

At 10:29 a.m. palm oil August futures KPOQ8 on Bursa Malaysia Derivatives was up 1.47 percent at 3,727 ringgit.

Rapeseed and soybean are crushed to obtain edible oils like rapeseed oil and soyoil, which competes with palm oil. (Reporting by Abhishek Shanker; Editing by Harish Nambiar)

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28 May, 2008

KOLKATA: Amid the ongoing controversy over expansion in the area for palm oil plantation in Malaysia and Indonesia, allegedly at the cost of destruction of the environment, India wants both countries to take proactive steps to promote production and export of environment-friendly palm oils according to the criteria laid down by the world body Roundtable on Sustainable Palm Oil (RPSO), which works for the promotion of sustainable palm oils.

India’s message in this direction has been conveyed by the country’s leading edible oil industry body Solvent Extractors’ Association of India (SEA) at the World Palm Oil Summit and Exhibition - 2008, held recently in Jakarta. While participating in the summit, SEA has put forward one proposal each in this regard to Indonesia and Malaysia, the world’s two largest palm oil producers.

“Indonesia has been requested to reduce…

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PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Tuesday, May 27, 2008
Source from The Star

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

(Prices are in RM/tonne)

MONTH

OPEN

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Business Times

Tuesday, May 27, 2008

CPO FUTURES

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday on the back of the bullish vegetable oils market amid crude oil prices rising to a record high, dealers said.

They said the market was supposed to restart its rally on record oil prices but it was weighed down by weaker exports data from cargo surveyors Societe General de Surveillance (SGS) and Intertek Testing Services (ITS).

According to SGS, exports of Malaysian palm oil products for May 1-25 fell 1.1 percent to 1,056,282 tonnes from 1,068,400 tonnes shipped from April 1 to 25.

ITS reported that exports of Malaysian palm oil products for May 1-25 fell 2.36 per cent to 993,093 tonnes from 1,017,134 tonnes shipped from April 1 to 25.

At the close of CPO futures trading yesterday, June 2008 increased RM59…

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The Star

By ZAZALI MUSA

Tuesday May 27, 2008

JOHOR BARU: Kulim (M) Bhd says it would have no problem acquiring the remaining 27.81 million shares in Sindora Bhd, or 28.96%, it does not already own.

Chairman Tan Sri Muhammad Ali Hashim said this was contrary to news reports last week that Kulim’s bid to acquire the remaining shares of Sindora had hit a snag.

Kulim and parties acting in concert collectively hold 71.03% equity in Sindora. This could possibly increase pending the outcome of its mandatory general offer (MGO) for the remaining Sindora shares by May 27.

“The transaction will go as planned between Sindora’s parent company, Johor Corp (JCorp), and Kulim,” he told reporters after Kulim’s AGM yesterday.

Ahamad Mohamad (left) and Tan Sri Muhammad Ali Hashim at the AGM on Monday

Ali, who is also chief executive…

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Jakarta (ANTARA News) - The investment of Malaysian oil palm plantation company Sime Darby Bhd in Indonesia has reached US$1.2 billion, the company`s director said.

“Our initial investment was only US$400 million but it has now tripled in line with the expansion of our plantations,” Tun Musa Hitam who is also a former Malaysian deputy prime minister said here on Monday.

He was attending the Indonesian Regional Investment Forum (IRIF) 2008.

Musa Hitam said his company had a commitment to making a long term investment in Indonesia. The company`s resolve to make a long-term investment in Indonesia was reflected in the expansion of its plantations which initially covered only 200,000 hectares but now had a total width of 404,600 hectares.

Musa Hitam said undertaking a new project was not a priority of Sime Darby in Indonesia but it was not impossible that at some point in…

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