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wan er duo woh...
乌 龟 慢 慢 爬 ， 爬 呀 ！ 爬 呀 ！ 要 爬 到 山 顶 了 ！ come plantation come, $$$come come!
Crude Palm Oil Ends Up LatAm Weather Issues Support
Crude palm oil futures on Malaysia’s derivatives exchange ended higher Wednesday due to speculative buying amid weather concerns in major soy-growing regions of South America and gains in other commodity markets.
The benchmark April contract at Bursa Malaysia Derivatives ended 1.4% higher at 2,510 ringgit a metric ton after moving in a MYR2,474-MYR2,512 range.
CBOT March soyoil was trading 0.9% higher at 52.19 cents a pound by the end of trade on BMD.
Concerns about dry weather in major soy exporter Argentina and talk that shipping issues in Brazil will likely limit the country's ability to ship soy supplies in the near term helped fuel gains in palm oil.
Technical indicators point to further price upside Thursday, rising toward MYR2,550/ton, as traders may cover positions ahead of the long weekend, according to a trading executive in Kuala Lumpur.
" Chinese quality control officials' decision to allow several [refined] palm oil cargoes to be unloaded in the country has lifted sentiment as well," he said.
Financial markets in Malaysia will be closed Friday in observance of Federal Territory Day.
Five cargoes from Malaysia have been unloaded at various ports in China, a trader at an international trading corporation said, the first since the major vegetable oil consumer imposed stricter quality measures on refined cooking oils for food use from Jan. 1.
Concerns about the tighter rules had prompted Chinese buyers to boost palm oil imports before the measures were enforced, raising port stocks to over 1 million tons in December. Palm oil port stocks in China reached 1.13 million tons Jan. 30.
Malaysian exports of refined palm oil, refined palm olein and refined palm stearin have dwindled since the start of the year with China's new standards and its burgeoning port stocks.
Export estimates by cargo surveyor Intertek Agri Services showed palm oil shipments to China during the Jan. 1-25 period fell 24% to 253,200 tons, while another surveyor, SGS (Malaysia) Bhd., said outbound sales for the period dipped 23% to 252,250 tons.
In the cash market, refined palm olein for February was offered at $832.50/ton, while cash CPO was offered at MYR2,370/ton
Open interest on the BMD was 172,963 lots versus 177,786 lots Tuesday. One lot is equivalent to 25 tons.
A total of 24,129 lots of CPO were traded versus 30,506 lots Tuesday.
Good for Malaysian palm but what about indo's. Rightfully price should have spiked during the news release.
alooloo ( Date: 31-Jan-2013 16:34) Posted:
I read it somewhere that palm is at record inventory, which trigger Malaysia to set zero tax...
Golden Agri palm is mainly from indonesia also, not really sure about the overall impact from all these news...
but it is near 52 weeks low... may be price can be supported....
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By Ranjeetha Pakiam - Jan 31, 2013 4:38 PM GMT+0800 Bloomberg
Palm oil rallied to the highest level in more than three months on speculation that Malaysian stockpiles will drop from a record as a zero export tax lures buyers away from Indonesia, the world’s largest producer.
The contract for delivery in April surged as much as 3.3 percent to 2,593 ringgit ($835) a metric ton on the
Malaysia Derivatives Exchange, the highest price for the most-active contract since Oct. 25, before trading at 2,581 ringgit at 4:13 p.m. in Kuala Lumpur. Futures, 5.9 percent higher in January, are heading for the biggest monthly advance since February.
Exports from Malaysia climbed 11 percent to 1.46 million tons in January from a year earlier, according to data from surveyor Intertek today. Malaysia will maintain the zero-tariff policy for a second month in February to help clear stockpiles of the oil used in foods and fuels, while Indonesia, the biggest producer, will
raise taxes on crude exports to 9 percent for February from 7.5 percent, the Trade Ministry said Jan. 28.
“The zero export duty for crude palm oil should help Malaysian shipments,” Alvin Tai, an analyst at OSK Investment Bank Bhd., said by phone in Kuala Lumpur. The pick-up in exports, and an expected double-digit drop in production this month, will help reduce the stockpiles, he said.
While Malaysia’s exports fell 7 percent in January compared with December, the extent of the drop narrowed as the month progressed, Intertek data showed. In the first 15 days, exports were down 21 percent. Inventories reached a record 2.63 million tons at the end of December, according to the Malaysian Palm Oil Board. Output is typically lowest in January and February.
Refined palm oil for delivery in September gained 1.5 percent to 7,176
yuan ($1,154) a ton on the Dalian Commodity Exchange, the highest close since Oct. 25. Soybean oil for delivery in the same month rose 1 percent to 8,820 yuan a ton.
Soybeans for March delivery lost 0.2 percent to $14.76 a bushel on the Chicago Board of Trade, while soybean oil for March delivery gained 0.4 percent to 52.79 cents a pound.
Great closing by GAR! more upside to come i hope
Last:
0.635 Vol:
34342k 
+0.0050
gd luck dyodd
ozone2002 ( Date: 31-Jan-2013 16:20) Posted:
GAR moving up.. now 63.5
hope this is the reversal for palm oil counters..
gd luck dyodd |
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Indonesia said Monday that it will increase the CPO export tax to 9%
next month from 7.5% now, while Malaysia said it will keep its February
CPO export duty unchanged at zero.
" The tax hike will likely boost shipments from Malaysia next month.
However, many are still worried about stocks hitting another high at the
end of the month," a trading executive at a foreign commodities
brokerage said.
Hope things will go well for those who have invested! ^.^ Cheers.
I read it somewhere that palm is at record inventory, which trigger Malaysia to set zero tax...
Golden Agri palm is mainly from indonesia also, not really sure about the overall impact from all these news...
but it is near 52 weeks low... may be price can be supported....
GAR moving up.. now 63.5
hope this is the reversal for palm oil counters..
gd luck dyodd
Any explanation for the silent trade for palm oil counters?
palm oil is rally, but all palm counter is silent?
31-01-2013 13:54:06
VEGOILS-Palm hits 3-month high on exports, South American weather
* Prices touch 2,564 ringgit, level unseen since Oct 25
* Malaysia's Jan palm exports down 7 pct to 1.46 mln tonnes
-ITS
* Palm oil to rise more to 2,567 ringgit -technicals
* Palm prices to fall for a second year in 2013 -poll
(Updates prices)
By Chew Yee Kiat
SINGAPORE, Jan 31 (Reuters) - Malaysian palm oil futures
jumped to a more-than-three-month high on Thursday, supported by
better-than-expected export data and dry weather concerns in key
soy producing areas in Argentina.
Dry weather is starting to threaten soybean yields in parts
of Argentina's main crop belt, possibly lowering soybean oil
output and turning buyers to cheaper palm oil, which is priced
at a discount of more than $300 . [GRA/]
Traders were also cheered by Malaysia's January palm oil
exports, which fell 7 percent to 1.46 million tonnes from
previous month's 1.57 million tonnes, a significant improvement
from a double-digit decline earlier in the month. [PALM/ITS]
" The fundamentals are getting better and I think the market
should be moving up further. Exports are getting better, it's
only down 7 percent when we were expecting a double-digit
decline," said a trader with a local commodities brokerage in
Kuala Lumpur.
" With better exports and lower production, there's a strong
possibility that the market will go up on the basis that stocks
are going to come down," he added, referring to Malaysian palm
inventory that hit a record-high 2.63 million tonnes in
December.
By the midday break, the benchmark April contract
on the Bursa Malaysia Derivatives Exchange rose 2.1 percent to
2,563 ringgit ($826) per tonne, just one ringgit off its
intraday high of 2,564 ringgit, a level unseen since Oct. 25.
Total traded volumes stood at 16,299 lots of 25 tonnes each,
higher than the usual 12,500 lots as investors squared their
positions ahead of a Malaysian holiday on Friday.
Technical analysis shows palm oil is expected to rise
further to 2,567 ringgit per tonne, as it has cleared a
resistance at 2,522 ringgit, said Reuters market analyst Wang
Tao. [ID:nL4N0B016I]
For the month, prices are set to post a 5.1 percent gain,
mostly driven by dry weather concerns in South America that
could lower global vegetable oil output.
But palm oil prices may still post a second straight year of
declines in 2013 as strong output from top producers Indonesia
and Malaysia overwhelm global food and fuel demand in a scenario
that has already led to record stocks, a Reuters poll of 28
analysts showed on Thursday. [ID:nL4N0AT4ZJ]
Brent crude edged up to a more than three-month high above
$115 per barrel on Thursday, as the U.S. Federal Reserve's
pledge to stick to its bond-buying stimulus plan and upbeat euro
zone data fuelled optimism about oil demand. [O/R]
In competing vegetable oil markets, U.S. soyoil for March
delivery edged down 0.1 percent in early Asian trade, as
some traders booked profits from a 1.5 percent gain the previous
session. The most active September soybean oil contract
on the Dalian Commodity Exchange had edged up 1.1 percent to a
one-week high by the midday break.
Palm, soy and crude oil prices at 0531 GMT
| Price |
% Change |
| Light Crude |
98.01 |
+0.07% |
just keeps getting higher..
There are too much supplies causing the price to face resistance. Labour costs are also contributing factors. Hope the China wave can give it a lift. Finger-crossed.
GAR is Indonesian plantation company. It should be on the losing end despite CPO increasing..
ozone2002 ( Date: 30-Jan-2013 17:19) Posted:
By Ranjeetha Pakiam - Jan 30, 2013 4:48 PM GMT+0800
Palm oil rallied to the highest level in almost four weeks on speculation that exports from Malaysia, the second-largest producer, will probably increase after Indonesia set higher taxes on February shipments.
The contract for delivery in April climbed as much as 1.3 percent to 2,506 ringgit ($813) a metric ton on the Malaysia Derivatives Exchange, the highest price for the most-active contract since Jan. 3. It traded at 2,500 ringgit at 4:45 p.m. in Kuala Lumpur, heading for a second monthly advance.
Indonesia, the biggest producer, will raise taxes on crude exports to 9 percent for February from 7.5 percent in January, the Trade Ministry said Jan. 28. Malaysia has said it will maintain a zero-tariff policy for a second month in February to help clear record stockpiles of the oil used in foods and fuels.
“The Indonesian tax increase will benefit Malaysian palm,” said Gnanasekar Thiagarajan, a director at Mumbai-based Commtrendz Risk Management Services Pvt. “There’s zero export tax in Malaysia, so there’ll be incentive for Malaysian exporters to export more.”
China’s oilseed imports may climb to a record 65.3 million tons in the year through September 2013 from 63.1 million tons in 2011-2012, while vegetable oil and fat imports may gain to 10.8 million tons from 9.98 million tons, Oil World, the Hamburg, Germany-based researcher wrote in a report yesterday.
Refined palm oil for delivery in September advanced 0.8 percent to close at 7,072 yuan ($1,137) a ton on the Dalian Commodity Exchange. Soybean oil for delivery in the same month increased 0.6 percent to end at 8,734 yuan a ton.
Soybeans for March delivery climbed 0.4 percent to $14.5775 a bushel on the Chicago Board of Trade. Soybean oil for March delivery gained 0.4 percent to 51.90 cents a pound.
To contact the reporter on this story: Ranjeetha Pakiam in Kuala Lumpur at rpakiam@bloomberg.net
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By Ranjeetha Pakiam - Jan 30, 2013 4:48 PM GMT+0800
Palm oil rallied to the highest level in almost four weeks on speculation that exports from
Malaysia, the second-largest producer, will probably increase after
Indonesia set higher taxes on February shipments.
The contract for delivery in April climbed as much as 1.3 percent to 2,506 ringgit ($813) a metric ton on the Malaysia Derivatives Exchange, the highest price for the most-active contract since Jan. 3. It traded at 2,500 ringgit at 4:45 p.m. in Kuala Lumpur, heading for a second monthly advance.
Indonesia, the biggest producer, will
raise taxes on crude exports to 9 percent for February from 7.5 percent in January, the Trade Ministry said Jan. 28. Malaysia has said it will maintain a zero-tariff policy for a second month in February to help clear record stockpiles of the oil used in foods and fuels.
“The Indonesian tax increase will benefit Malaysian palm,” said Gnanasekar Thiagarajan, a director at Mumbai-based Commtrendz Risk Management Services Pvt. “There’s zero export tax in Malaysia, so there’ll be incentive for Malaysian exporters to export more.”
China’s oilseed imports may climb to a record 65.3 million tons in the year through September 2013 from 63.1 million tons in 2011-2012, while vegetable oil and fat imports may gain to 10.8 million tons from 9.98 million tons, Oil World, the Hamburg, Germany-based researcher wrote in a report yesterday.
Refined palm oil for delivery in September advanced 0.8 percent to close at 7,072
yuan ($1,137) a ton on the Dalian Commodity Exchange. Soybean oil for delivery in the same month increased 0.6 percent to end at 8,734 yuan a ton.
Soybeans for March delivery climbed 0.4 percent to $14.5775 a bushel on the Chicago Board of Trade. Soybean oil for March delivery gained 0.4 percent to 51.90 cents a pound.
To contact the reporter on this story: Ranjeetha Pakiam in Kuala Lumpur at
rpakiam@bloomberg.net
Just my assumption, this is a " good" stock to hold, assuming if you can hold till the month of May (maybe there might be dividends)
I believe the price might be higher than the one now!
CNY sure lots of palm oil usage for cooking CNY goodies and makan in China n other CNY
celebrating countries.. yummy :)
