Business Times

23 May, 2011

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives are expected to continue the uptrend next week driven by positive sentiments from the external market and export data, dealers said.

They said the uptrend would continue unless short covering occurred.

A dealer said cargo surveyors, Intertek Testing Services and Societe General de Surveillance, were scheduled to release the export data for the period of May 1-25 on May 25.

He said the higher soyaoil prices due to the bad weather in the major producers country were also expected to support CPO prices. Read the rest of this entry »

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The Star

23 May, 2011

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives are expected to continue the uptrend this week driven by positive sentiments from the external market and export data.

Dealers said the uptrend would continue unless short-covering occurred.

A dealer said cargo surveyors, Intertek Testing Services and Societe General de Surveillance, were scheduled to release the export data for the period of May 1-25 on May 25.

The higher soyaoil prices due to the bad weather in the major producers country were also expected to support CPO prices.

However, Jim Teh, senior trader of Interband Group of Companies, said the current prices were too high for physical traders. Read the rest of this entry »

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Business Times

20 May, 2011

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on anticipation of a better export data which is scheduled for release today. A dealer said positive sentiments such as high soy oil prices also supported CPO prices.

June 2011 rose RM53 to settle at RM3,453 a tonne, July 2011 gained RM54 to RM3,391, August 2011 went up RM63 to RM3,360 and September 2011 jumped RM65 to RM3,350.

Volume dropped to 24,223 lots from Wednesday’s 29,486 lots while open interest climbed to 106,826 contracts from 106,652 previously.

On the physical market, June South rose by RM40 to RM3,440 from RM3,400 previously.

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Business Times

19 May, 2011

CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher yesterday on active demand from foreign buyers, a dealer said.

June 2011 went up RM11 to settle at RM3,400 a tonne, while July 2011 climbed RM43 to RM3,337, August 2011 rose RM42 to RM3,297 and September 2011 was RM40 higher at RM3,285.

Volume rose to 29,486 lots from Monday’s 18,702 lots and open interest was lower at 106,652 contracts as against 108,205 previously.On the physical market, June South was flat at RM3,400.

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Bernama

19 May, 2011

Malaysian palm oil prices are expected to remain relatively strong in the coming months on strong export demand for the tropical oil, Chairman of Malaysian Palm Oil Council, Datuk Lee Yeow Chor said.

He said while there were wide concerns of an over supply situation, the current unusual warm weather patterns would keep prices up for the commodity.

“For the first 15 days of this month there has been growth of over 20 per cent in terms of export,” he said.

Fundamentally the market is still strong, he told reporters at the Palm International Nutra-Cosmeceutical 2011 (PINC 2011) conference here on Thursday. Read the rest of this entry »

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Business Times

18 May, 2011

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher yesterday on renewed demand following bullish export data released by two cargo surveyors.

Intertek Testing Services said the country’s exports for the first 15 days of May jumped 27.6 per cent to 533,419 tonnes from 418,134 tonnes the previous month.

The June 2011 contracts jumped RM24 to RM3,389 per tonne, July 2011 rose RM20 to RM3,294, August 2011 gained RM6 to RM3,255 and September 2011 climbed RM5 to RM3,245.

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Business Times

14 May, 2011

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher yesterday with renewed buying interest from investors on bargain-hunting.

At the close, May 2011 gained RM10 to RM3,410 per tonne, June 2011 climbed RM55 to RM3,365, July 2011 rose RM48 to RM3,274 and August 2011 increased RM44 to RM3,249 per tonne.

Turnover rose to 29,674 lots from 25,252 lots on Thursday, while open interest declined to 112,707 from 112,976 contracts previously.

Meanwhile, May South added RM30 to RM3,380 per tonne.

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Business Times

13 May, 2011

CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower yesterday as the commodity suffered another global sell-off in less than a week, dealers said.

May 2011 lost RM37 to RM3,400 a tonne, June 2011 declined RM60 to RM3,310 while July 2011 and August 2011 both decreased RM43 each to RM3,226 and RM3,205, resprectively.

Turnover, however, rose to 25,252 lots, from 22,071 lots on Wednesday, while open interest climbed to 112,976 contracts, from 112,353, previously.

Meanwhile, May South lost RM30 to RM3,350 .

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