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The Crude Palm Oil Futures Closing
Commodities Roundup: CPO futures tumble
Buyers snap up cheap palm oil as price slumps 6pc
Sime Darby plans tie-up with India firm
Sime target price lowered
The Crude Palm Oil Futures Closing
Commodities Roundup: CPO futures tumble
Buyers snap up cheap palm oil as price slumps 6pc
Sime Darby plans tie-up with India firm
Sime target price lowered
Dilip Kumar Jha / Mumbai August 27, 2008
Reflecting the global trend, especially in
On MCX, the highest consumed edible oil for its October delivery fell to Rs 362.10 per 10 kg while September contract slumped 3.99 per cent to Rs 363.40 per 10 kg. The spot price of CPO at MCX closed at Rs 391.30 per 10 kg in Kandla.
Surprisingly, the oil remained at Rs 400.35 per 10 kg at NCDEX because of no trade for its September delivery while the spot price closed at Rs 391.90.
CPO in
Many Malaysian plantation firms venturing into the Indonesian side of
“We are concentrating on planting areas in
“We are concerned about the quality of plantings and making sure its…
By Manirajan Ramasamy and Feiwen Rong
Aug. 26 (Bloomberg) —
“We might need to take immediate measures” if prices “drop drastically below 2,000 ringgit ($590) a ton,” Chin said in a phone interview. The price tumbled as much as 7.5 percent today to 2,406 ringgit a ton.
Palm oil, used in cooking and as an alternative fuel, has slumped 11 percent in two days as supplies from
Business Times
Tuesday, August 26, 2008
CPO FUTURES
The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives Exchange fell RM115, or 4.2 per cent to finish at RM2,600 (US$770) per tonne. Other traded contract fell between RM42 and RM136 ringgit per tonne. Overall volume stood at 9,733 lots of 25 tonnes each.
“The market is going down on the back of Mistry’s comments which are looking at higher production,” a trader said.
Mistry, a director with Indian firm Godrej International, said Malaysian crude…
Business Times
Tuesday, August 26, 2008
KUALA Lumpur Kepong Bhd (KLK),
He said in an interview that the firm has invested RM200 million in a biodiesel softening plant, which will be commissioned in the second half of 2009. — Reuters
Business Times
Tuesday, August 26, 2008
CB INDUSTRIAL Product Holding Bhd said its unit has won a RM36.1 million contract to build a floating palm oil mill in
Modipalm Engineering Sdn Bhd won the order from PT TH Indo Plantation to build a mill with a capacity of 30-tonne per hour in Riau, it said in a statement to
Business Times
Tuesday, August 26, 2008
By Ooi Tee Ching
THE palm oil price is taking a breather due to a peak harvest season but will resume their rise as demand picks up, industry experts said.
Yesterday, the third month benchmark crude palm oil price on the Malaysian Derivatives Exchange fell RM115 to close at RM2,600 per tonne.
“The market is oversold and I would say we’re in transition. I may be mistaken but I’m convinced the bull run is not yet over. We still have a couple of years more to go,” said Godrej International Ltd director Dorab Mistry.
Changing weather patterns could also affect yields of soyabean in the
“The US Department of Agriculture had over-estimated August rainfall in the
If the…
Indonesian oil palm ops expected to contribute more
Managing director Roslan Hamir said the company would continue to bank on the production and trading of security and confidential documents as well as its palm oil production to be the main revenue drivers in FY09.
“However, we expect higher quantum of revenue growth from the oil palm division in view of higher fresh fruit bunch production,” he told reporters after the company AGM yesterday.
“We aim to produce at least 25,000 tonnes of crude palm oil (CPO) in FY09 compared with 9,000 tonnes previously,” Roslan said, adding that 80% of its CPO from
by Lim Shie-Lynn
Plantation Industries and Commodities Minister Datuk Peter Chin had said the country hoped to sign a memorandum of understanding with
While the decision would be positive to the biodiesel sector, Malaysia-based engineering services firm Lurgi Sdn Bhd’s managing director Uwe Zwiefelhofer said: “The problem with biodiesel industry in this region is the…
By Divine
Douala
25 August 2008
Oil palms are grown throughout West and
There are several reasons for the low output: obsolete production equipment, aging plantations and little access to technology and financing.