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i always wonder if there is real demand for Palm Oil or its just the commodities traders who keep longing Palm Oil Futures in hope of further price increases...
May be another bubble in the making if Demand is not REAL
Yip, tks forecast seems good.
| Last Updated: May 26 2008 6:05:00 PM |
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| FCPO | Jun 2008 | 3638.00 | 3680.00 | 3638.00 | 3648.00 | 3670.00 | 3670.00 | 3670.00 | 0.00 | 1943 | 391 |
| FCPO | Jul 2008 | 3674.00 | 3695.00 | 3656.00 | 3650.00 | 3675.00 | 3670.00 | 3670.00 | 0.00 | 14771 | 1,218 |
| FCPO | Aug 2008 | 3671.00 | 3705.00 | 3660.00 | 3673.00 | 3675.00 | 3673.00 | 3673.00 | 0.00 | 10386 | 6,168 |
| FCPO | Sep 2008 | 3674.00 | 3706.00 | 3665.00 | 3673.00 | 3699.00 | 3671.00 | 3674.00 | -3.00 | 3349 | 536 |
| FCPO | Oct 2008 | 3700.00 | 3705.00 | 3674.00 | 3588.00 | 3700.00 | 3674.00 | 3669.00 | 5.00 | 169 | 42 |
| FCPO | Nov 2008 | 3700.00 | 3700.00 | 3665.00 | 3666.00 | 3690.00 | 3671.00 | 3666.00 | 5.00 | 1872 | 283 |
Palm oil futures eye firm crude oil, weak demand
Mon May 26, 2008 7:49am
MALAYSIA PALM EXPORTS
- Exports of Malaysian palm oil products for May 1-25 fell 2.36 percent to 993,093 tonnes from 1,017,134 tonnes shipped between April 1 and 25, cargo surveyor Intertek Testing Services said on Monday. [ID:nKLR304710]
Another cargo surveyor, Societe Generale de Surveillance, is due to release its estimates later on Monday.
PALM FUTURES MAY RALLY
Malaysian crude palm oil prices may resume their rally if record crude oil prices boost demand for alternative fuels, soaking up high stocks, leading industry analysts said on Friday. [ID:nSP14389]
INDONESIA EXPORT TAX
Indonesia will keep the palm oil export tax unchanged in June, but raise the base export price for crude palm oil to bring it in line with international prices, the trade ministry said on Friday. [ID:nSP5148]
INDIA BUYS PALM OIL
Indian state-run firm PEC Ltd has decided to buy 18,000 tonnes of refined, bleached and deodorised palmolein at $1,300 per tonne, a government source said on Friday. [ID:nDEL001484]
MALAYSIAN PALM OIL FUTURES
Malaysian crude palm oil futures gained 1.2 percent on Friday on optimistic forecasts by a top industry analyst and a recovery in vegoil markets in the United States, traders said.
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| Jun 2008 | 3638.00 | 3680.00 | 3638.00 | 3675.00 | 3679.00 | 3680.00 | 3611.00 | 69.00 | 1943 | 111 |
| Jul 2008 | 3674.00 | 3695.00 | 3660.00 | 3687.00 | 3691.00 | 3689.00 | 3620.00 | 69.00 | 14771 | 292 |
| Aug 2008 | 3671.00 | 3705.00 | 3660.00 | 3696.00 | 3700.00 | 3696.00 | 3654.00 | 42.00 | 10386 | 2,837 |
| Sep 2008 | 3674.00 | 3706.00 | 3674.00 | 3699.00 | 3701.00 | 3702.00 | 3655.00 | 47.00 | 3349 | 206 |
| Oct 2008 | 3700.00 | 3705.00 | 3699.00 | 3688.00 | 3708.00 | 3702.00 | 3650.00 | 52.00 | 169 | 36 |
| Nov 2008 | 3700.00 | 3700.00 | 3700.00 | 3670.00 | 3698.00 | 3700.00 | 3623.00 | 77.00 | 1872 | 27 |
Traders taking advantage of poor sentiment and Dow's performance on Fri to short sell. CPO prices up strongly. Should provide strong support for Palm oil counters. Expect FR and Indo agri to rebound in price in the afternoon. Just my opinion. Caveat emptor. Trade with caution
|
: ) Last Updated: May 23 2008 6:05:00 PM |
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| FCPO | Jun 2008 | 3568.00 | 3631.00 | 3568.00 | 3608.00 | 3630.00 | 3631.00 | 3611.00 | 20.00 | 2067 | 262 |
| FCPO | Jul 2008 | 3555.00 | 3650.00 | 3555.00 | 3620.00 | 3645.00 | 3620.00 | 3620.00 | 0.00 | 16271 | 2,362 |
| FCPO | Aug 2008 | 3575.00 | 3658.00 | 3570.00 | 3650.00 | 3654.00 | 3654.00 | 3654.00 | 0.00 | 10789 | 6,208 |
| FCPO | Sep 2008 | 3576.00 | 3660.00 | 3576.00 | 3600.00 | 3660.00 | 3655.00 | 3655.00 | 0.00 | 2853 | 963 |
| FCPO | Oct 2008 | 3640.00 | 3640.00 | 3640.00 | 3615.00 | 3650.00 | 3640.00 | 3650.00 | -10.00 | 161 | 8 |
| FCPO | Nov 2008 | 3640.00 | 3640.00 | 3639.00 | 3555.00 | 3688.00 | 3640.00 | 3623.00 | 17.00 | 1856 | 30 |
Edible oil imports seen going up 38%
The price of palm oil, produced mostly in Indonesia and Malaysia, has risen 44% in the past year on demand for vegetable oil for cooking and biofuel
Claire Leow/ Bloomberg
Singapore: India’s edible oil imports may climb 38% by 2010, straining supplies, as rising incomes among the nation’s middle-class consumers stoke demand for fried food.
Purchases may total at least 6.5 million tonnes (mt), up from 4.7mt last year, said B.V. Mehta, executive director, Solvent Extractors’ Association, at a conference on Thursday.
The price of palm oil, produced mostly in Indonesia and Malaysia, has risen 44% in the past year on demand for vegetable oil for cooking and biofuel. Soya bean oil, its main substitute, has surged 82% in the period as US farmers planted soya beans to the smallest acreage in 12 years.
“The benefit is harvested by Indonesia,” Mehta said in Jakarta. “About 80% of India’s requirement is imported from Indonesia.”
Palm oil futures in Malaysia, the global benchmark, reached a record 4,486 ringgit (about Rs59,000) a tonne on 4 March. The futures for August delivery climbed for a second day, gaining 1.4% to 3,607 ringgit a tonne on Thursday.
Friday May 23, 2008
CPO futures rise to month’s high
By HANIM ADNAN
PETALING JAYA: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives rose to a one-month high in active trading yesterday, taking their cue from crude oil, which hit a fresh record of US$135 a barrel on concerns over inflation and a slowing US economy.
The benchmark CPO August contract touched a high of RM3,645 before closing at RM3,610 per tonne. The July contract rose RM36 to RM3,591 while the June firmed up RM44 to RM3,582.
A trader said CPO was expected to re-test the RM4,000 mark over the next few weeks. “The current price is about 24% short of the all-time high of RM4,486 per tonne recorded in March,” he said.
The trader said the upcoming low production season and anticipated bad weather could push up CPO prices.
Malaysia's CPO production is targeted at 16.3 million tonnes this year while Indonesia's output is set at 17.5 million tonnes.
CPO closely tracks crude oil as it is considered an alternative feedstock for biodiesel production.
Market players are also eagerly awaiting the outcome of the three-day World Palm Oil Summit and Exhibition in Jakarta, organised by Indonesia's Oil Palm Research Institute and Indonesia Palm Oil Association (GAPKI). The summit began on Wednesday.
International commodity expert Dorab Mistry of Godrej International Ltd is expected to present the latest CPO price forecast tomorrow.
Meanwhile, crude oil on Nymex is expected to sustain its uptrend following the latest report from the US Energy Information Administration that domestic stocks had fallen by 5.4 million to 320.4 million barrels.
Reuters reported that the US dollar fell to a one-month low versus the euro yesterday after the Federal Reserve cut its 2008 growth forecast and warned of higher unemployment, thus diminishing the prospect of an interest rate hike later this year.
US energy secretary Sam Bodman said record oil prices fairly reflected tight supplies and strong global demand, and that speculators were not at fault for pushing up petroleum costs.
: )
Last Updated: May 22 2008 6:05:00 PM
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| FCPO | Jun 2008 | 3618.00 | 3618.00 | 3585.00 | 3582.00 | 3588.00 | 3587.00 | 3582.00 | 5.00 | 2304 | 470 |
| FCPO | Jul 2008 | 3622.00 | 3638.00 | 3591.00 | 3590.00 | 3602.00 | 3591.00 | 3591.00 | 0.00 | 17163 | 1,984 |
| FCPO | Aug 2008 | 3645.00 | 3645.00 | 3599.00 | 3610.00 | 3612.00 | 3610.00 | 3610.00 | 0.00 | 10451 | 5,544 |
| FCPO | Sep 2008 | 3699.00 | 3699.00 | 3607.00 | 3600.00 | 3625.00 | 3607.00 | 3600.00 | 7.00 | 2506 | 930 |
| FCPO | Oct 2008 | 3610.00 | 3625.00 | 3600.00 | 3585.00 | 3612.00 | 3613.00 | 3612.00 | 1.00 | 126 | 85 |
| FCPO | Nov 2008 | 3614.00 | 3618.00 | 3600.00 | 3530.00 | 3585.00 | 3614.00 | 3585.00 | 29.00 | 1697 | 240 |
Looks bright, keep on accumulating loh. Cheers.
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| FCPO | JUN 2008 | 3618.00 | 3618.00 | 3600.00 | 3599.00 | 3605.00 | 3600.00 | 3538.00 | 62.00 | 2304 | 15 |
| FCPO | JUL 2008 | 3622.00 | 3638.00 | 3618.00 | 3617.00 | 3623.00 | 3618.00 | 3555.00 | 63.00 | 17163 | 183 |
| FCPO | AUG 2008 | 3645.00 | 3645.00 | 3621.00 | 3623.00 | 3627.00 | 3625.00 | 3557.00 | 68.00 | 10451 | 456 |
| FCPO | SEP 2008 | 3699.00 | 3699.00 | 3628.00 | 3622.00 | 3627.00 | 3628.00 | 3547.00 | 81.00 | 2506 | 107 |
CPCo
cpoCPO prices up strongly
Last Updated: May 21 2008 6:05:00 PM
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| FCPO | Jun 2008 | 3538.00 | 3560.00 | 3528.00 | 3534.00 | 3550.00 | 3535.00 | 3538.00 | -3.00 | 2497 | 305 |
| FCPO | Jul 2008 | 3549.00 | 3574.00 | 3538.00 | 3530.00 | 3555.00 | 3550.00 | 3555.00 | -5.00 | 17855 | 1,187 |
| FCPO | Aug 2008 | 3548.00 | 3580.00 | 3525.00 | 3557.00 | 3558.00 | 3557.00 | 3557.00 | 0.00 | 10690 | 3,873 |
| FCPO | Sep 2008 | 3545.00 | 3579.00 | 3539.00 | 3540.00 | 3589.00 | 3551.00 | 3547.00 | 4.00 | 2085 | 1,152 |
| FCPO | Oct 2008 | 3544.00 | 3570.00 | 3534.00 | 3560.00 | 3565.00 | 3535.00 | 3560.00 | -25.00 | 13 | 163 |
| FCPO | Nov 2008 | 3566.00 | 3566.00 | 3566.00 | 3500.00 | 3565.00 | 3566.00 | 3565.00 | 1.00 | 1702 | 5 |
CPO futures remains positive. Should provide support to palm oil counters. Indo agri seemed to have broken out from resistance, FR consolidating at 1.23 to 1.25. Golden agri : strong support at $1.00.
My opinion: accumulate at support levels on sell-down but don't chase when prices move up. Fundamentally golden agri and FR has a lot to catch up in terms of valuation compared to their peers. Vested. Caveat Emptor.
Last Updated: May 20 2008 6:05:00 PM
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| FCPO | Jun 2008 | 3515.00 | 3546.00 | 3515.00 | 3529.00 | 3538.00 | 3538.00 | 3538.00 | 0.00 | 2949 | 431 |
| FCPO | Jul 2008 | 3537.00 | 3555.00 | 3510.00 | 3537.00 | 3555.00 | 3555.00 | 3555.00 | 0.00 | 18310 | 526 |
| FCPO | Aug 2008 | 3513.00 | 3559.00 | 3513.00 | 3550.00 | 3554.00 | 3554.00 | 3554.00 | 0.00 | 10462 | 1,977 |
| FCPO | Sep 2008 | 3529.00 | 3555.00 | 3529.00 | 3540.00 | 3589.00 | 3555.00 | 3544.00 | 11.00 | 2029 | 225 |
| FCPO | Oct 2008 | 0.00 | 0.00 | 0.00 | 3500.00 | 3600.00 | 0.00 | 3534.00 | 0.00 | 13 | 0 |
| FCPO | Nov 2008 | 0.00 | 0.00 | 0.00 | 3449.00 | 3600.00 | 0.00 | 3543.00 | 0.00 | 1702 | 0 |
Astra Agro Plans to Boost Palm Oil Output, Investment (Update1)
By Naila Firdausi
May 17 (Bloomberg) -- PT Astra Agro Lestari, Indonesia's biggest publicly traded agriculture company, may raise palm oil production 7.5 percent this year and double capital expenditure to fund expansion and takeovers.
The unit of PT Astra International expects to boost output to 990,000 metric tons in 2008 from 920,600 tons last year, according company statement released to the stock exchange. A total of 1.52 trillion rupiah ($164 million) has been set aside for investments, up from 736 billion rupiah last year, the statement said.
Higher palm oil prices, which climbed 43 percent in the past year, have boosted earnings at growers and prompted others to expand into the industry. Charoen Pokphand Group, Asia's biggest animal-feed producer, plans to start producing palm oil from 2010.
Palm oil, about 90 percent of which is produced in Indonesia and Malaysia, is used in foods and cooking, as well as a fossil- fuel additive. About two-thirds of Astra Agro's 2008 budget will be spent on buying land and planting estates, the statement said.
Shares of Astra Agro have climbed 76 percent on the Indonesia Stock Exchange in the past a year, more than three times the benchmark Jakarta Composite's 20 percent gain. The stock closed at 25,800 rupiah yesterday after gaining 2.2 percent.
Astra Agro said April 30 that first-quarter profit more than tripled to 827.1 billion rupiah from 268.9 billion rupiah a year earlier as it sold more palm oil at higher prices. Palm oil output in the three months gained 24 percent to 248,511 tons.
Palm oil futures on the Malaysia Derivatives Exchange touched a record 4,486 ringgit ($1,388) a ton on March 4, buoyed by higher demand and rising crude oil prices. The contract for delivery in August rose 2.2 percent to 3,570 ringgit a metric ton in the five days to May 16, its second weekly gain.
The price may rise to 4,000 ringgit a ton within two months driven by record crude oil prices, according to a May 15 forecast from Chris de Lavigne, global vice president at consulting firm Frost & Sullivan Inc. Crude oil for June delivery on the New York Mercantile Exchange touched a record $127.82 a barrel yesterday.
To contact the reporter on this story: Naila Firdausi in Jakarta at nfirdausi@bloomberg.net
By Naila Firdausi
May 17 (Bloomberg) -- PT Astra Agro Lestari, Indonesia's biggest publicly traded agriculture company, may raise palm oil production 7.5 percent this year and double capital expenditure to fund expansion and takeovers.
The unit of PT Astra International expects to boost output to 990,000 metric tons in 2008 from 920,600 tons last year, according company statement released to the stock exchange. A total of 1.52 trillion rupiah ($164 million) has been set aside for investments, up from 736 billion rupiah last year, the statement said.
Higher palm oil prices, which climbed 43 percent in the past year, have boosted earnings at growers and prompted others to expand into the industry. Charoen Pokphand Group, Asia's biggest animal-feed producer, plans to start producing palm oil from 2010.
Palm oil, about 90 percent of which is produced in Indonesia and Malaysia, is used in foods and cooking, as well as a fossil- fuel additive. About two-thirds of Astra Agro's 2008 budget will be spent on buying land and planting estates, the statement said.
Shares of Astra Agro have climbed 76 percent on the Indonesia Stock Exchange in the past a year, more than three times the benchmark Jakarta Composite's 20 percent gain. The stock closed at 25,800 rupiah yesterday after gaining 2.2 percent.
Astra Agro said April 30 that first-quarter profit more than tripled to 827.1 billion rupiah from 268.9 billion rupiah a year earlier as it sold more palm oil at higher prices. Palm oil output in the three months gained 24 percent to 248,511 tons.
Palm oil futures on the Malaysia Derivatives Exchange touched a record 4,486 ringgit ($1,388) a ton on March 4, buoyed by higher demand and rising crude oil prices. The contract for delivery in August rose 2.2 percent to 3,570 ringgit a metric ton in the five days to May 16, its second weekly gain.
The price may rise to 4,000 ringgit a ton within two months driven by record crude oil prices, according to a May 15 forecast from Chris de Lavigne, global vice president at consulting firm Frost & Sullivan Inc. Crude oil for June delivery on the New York Mercantile Exchange touched a record $127.82 a barrel yesterday.
To contact the reporter on this story: Naila Firdausi in Jakarta at nfirdausi@bloomberg.net
i think all the commodity shares are boosted up because sinagporean are constantly brainwashed by Mr. Jim Roger who stay in Singapore, and keep brainwash people to buy commodity, in the seminar, news in the newspaper, channelnewasia... AMRO zero certs. etc...
If we can't beat the crowds, join the crowds.
Malaysia, Indonesia to Gain from Palm Oil Boom:
Commodity on-line, 15.5.2008:
http://www.commodityonline.com/news/topstory/newsdetails.php?id=8353
Oil experts predicting palm oil boom for the next 5 to 10 years
Crude oil prices to remain bullish for themedium to long term
Demand to remain strong
16.05.2008 - Closing Crude Palm Oil Quotes:
Month Close Previous Change High Low
June '08 3557 3520 up 37 3557 3499
July '08 3567 3,521 up 46 3570 3500
Aug '08 3570 3524 up 46 3570 3500
Sept '08 3566 3519 up 47 3566 3500
Oct '08 3509 3541 dn 32 3509 3509
Closed up from yesterday except Oct 08
14.05.2008 - Closing Crude Palm Oil Quotes:
Closing CPO futures prices on Bursa Malaysia Derivatives in MYR/ton
Month |
Close |
Previous |
Change |
High |
Low |
June '08 |
3542 |
3514 |
Up 28 |
3587 |
3529 |
|
July '08 |
3558 |
3532 |
Up 26 |
3612 |
3543 |
Aug '08 |
3556 |
3540 |
Up 16 |
3617 |
3550 |
Sept '08 |
3567 |
3535 |
Up 32 |
3610 |
3567 |
Last Updated: May 12 2008 6:05:00 PM
| NAME | MONTH | OPEN | HIGH | LOW | BID | ASK | LAST | SETT.P | CHANGE | OI | VOLUME |
| FCPO | May 2008 | 3545.00 | 3591.00 | 3545.00 | 3500.00 | 3550.00 | 3591.00 | 3500.00 | 91.00 | 216 | 28 |
| FCPO | Jun 2008 | 3592.00 | 3612.00 | 3550.00 | 3465.00 | 3565.00 | 3554.00 | 3554.00 | 0.00 | 5362 | 1,004 |
| FCPO | Jul 2008 | 3600.00 | 3623.00 | 3555.00 | 3569.00 | 3570.00 | 3570.00 | 3570.00 | 0.00 | 19418 | 6,392 |
| FCPO | Aug 2008 | 3600.00 | 3623.00 | 3560.00 | 3575.00 | 3578.00 | 3575.00 | 3575.00 | 0.00 | 9470 | 812 |
| FCPO | Sep 2008 | 3600.00 | 3610.00 | 3600.00 | 3520.00 | 3585.00 | 3610.00 | 3567.00 | 43.00 | 1979 | 101 |
| FCPO | Oct 2008 | 0.00 | 0.00 | 0.00 | 3520.00 | 3585.00 | 0.00 | 3557.00 | 0.00 | 13 | 0 |
| FCPO | Nov 2008 | 0.00 | 0.00 | 0.00 | 3430.00 | 3585.00 | 0.00 | 3566.00 | 0.00 | 1702 | 0 |