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Tampilkan postingan dengan label palm oil prices. Tampilkan semua postingan
Tampilkan postingan dengan label palm oil prices. Tampilkan semua postingan
20.23
Palm Oil Prices Drop as High Output and Low Tax
Written By mine on Sabtu, 08 September 2012 | 20.23
Palm oil prices drop as output rising and low tax make export increase of the commodity in Indonesia. Shipments may advance to 1.6 million metric tons this month after gaining an estimated 1.4 percent to 1.4 million tons in August from July. While output may have dropped to 1.9 million tons last month from an estimated 2 million tons in July, it will rise to 2.1 million in September. The executives didn’t provide forecasts for inventories.
Palm oil futures dropped 0.7 percent to close at 2,927 ringgit ($941) a ton on the Malaysia Derivatives Exchange today, the lowest price at close since Aug. 16. Soybeans, crushed to produce a rival oil, reached a record $17.89 a bushel on the Chicago Board of Trade on Sept. 4. Soybean oil was $315.38 a ton more costly than palm.
Palm oil in Malaysia, the benchmark price in the second- largest producer, has lost 7.8 percent this year even as soybeans in Chicago rallied to an all-time high on damage from a drought in the U.S. Stockpiles in Indonesia may total 4 million tons, twice as much typically estimated, according to Godrej International Ltd., which forecast a rise in Malaysian reserves to a record. That may cut prices and hurt profits at companies such as Golden Agri-Resources Ltd. (GGR), the second-biggest planter.
Palm oil futures dropped 0.7 percent to close at 2,927 ringgit ($941) a ton on the Malaysia Derivatives Exchange today, the lowest price at close since Aug. 16. Soybeans, crushed to produce a rival oil, reached a record $17.89 a bushel on the Chicago Board of Trade on Sept. 4. Soybean oil was $315.38 a ton more costly than palm.
Palm oil in Malaysia, the benchmark price in the second- largest producer, has lost 7.8 percent this year even as soybeans in Chicago rallied to an all-time high on damage from a drought in the U.S. Stockpiles in Indonesia may total 4 million tons, twice as much typically estimated, according to Godrej International Ltd., which forecast a rise in Malaysian reserves to a record. That may cut prices and hurt profits at companies such as Golden Agri-Resources Ltd. (GGR), the second-biggest planter.
04.28
Palm Oil Prices Futures Slump per mt
Written By mine on Sabtu, 09 Juni 2012 | 04.28
Palm oil prices futures may slump to as low as 2,700 ringgit ($848) a metric ton from 2,968 ringgit in the absence of fresh stimulus by the U.S. to revive growth, said Mistry, abandoning his forecast for prices to reach 4,000 ringgit. The most-active contract last traded below 2,700 ringgit in October 2010. Futures may rebound to 3,300 ringgit as the decline may stimulate demand, he said at a conference in Mumbai yesterday.
Palm oil prices have slumped 18 percent since climbing to a 13-month high in April as growth slowed in China, the biggest cooking-oil user, and the debt crisis worsened in Europe. A decline in prices may cut costs for companies such as Nestle SA (NESN), the world’s largest food company, while reducing profits at producers including Sime Darby Bhd (SIME) and Wilmar International Ltd. (WIL)
“The scenario on commodities has darkened considerably in the world at large,” said Mistry, who’s traded palm oil for more than three decades. “The main catalyst as far as palm oil prices are concerned has been the fall in crude oil prices. The logic has been that biodiesel demand is the swing factor and as crude oil falls, biodiesel becomes uncompetitive.”
Biodiesel demand this year may see “very little growth” as the drop in oil prices reduces consumption for non-mandatory use, he said. Palm oil’s use in biofuels may expand by only 1 million tons this year, while its demand for food will expand by 2 million tons, he said. Brent crude oil prices have declined 8.1 percent this year, weakening demand for the tropical oil.
A further decline in crude prices in the absence of stimulus measures from the U.S. “will see the opening up of the gates for prices to fall further,” said Nagaraj Meda, managing director of TransGraph Consulting Pvt., who has forecast prices for 13 years.
Federal Reserve Chairman Ben S. Bernanke said yesterday the Fed will need to assess conditions before deciding if more measures are required to stoke an economy threatened by Europe’s debt crisis and budget cuts.
Palm oil for delivery in August fell as much as 1.8 percent to 2,922 ringgit before ending the morning session at 2,968 ringgit on the Malaysia Derivatives Exchange.
“On the whole, demand growth has been disappointing,” said Mistry. “The Chinese consumer of vegetable oils has tightened his belt and we have not seen the strong year-on-year rise in consumption as in the past.”
Palm oil prices have slumped 18 percent since climbing to a 13-month high in April as growth slowed in China, the biggest cooking-oil user, and the debt crisis worsened in Europe. A decline in prices may cut costs for companies such as Nestle SA (NESN), the world’s largest food company, while reducing profits at producers including Sime Darby Bhd (SIME) and Wilmar International Ltd. (WIL)
“The scenario on commodities has darkened considerably in the world at large,” said Mistry, who’s traded palm oil for more than three decades. “The main catalyst as far as palm oil prices are concerned has been the fall in crude oil prices. The logic has been that biodiesel demand is the swing factor and as crude oil falls, biodiesel becomes uncompetitive.”
Biodiesel demand this year may see “very little growth” as the drop in oil prices reduces consumption for non-mandatory use, he said. Palm oil’s use in biofuels may expand by only 1 million tons this year, while its demand for food will expand by 2 million tons, he said. Brent crude oil prices have declined 8.1 percent this year, weakening demand for the tropical oil.
A further decline in crude prices in the absence of stimulus measures from the U.S. “will see the opening up of the gates for prices to fall further,” said Nagaraj Meda, managing director of TransGraph Consulting Pvt., who has forecast prices for 13 years.
Federal Reserve Chairman Ben S. Bernanke said yesterday the Fed will need to assess conditions before deciding if more measures are required to stoke an economy threatened by Europe’s debt crisis and budget cuts.
Palm oil for delivery in August fell as much as 1.8 percent to 2,922 ringgit before ending the morning session at 2,968 ringgit on the Malaysia Derivatives Exchange.
“On the whole, demand growth has been disappointing,” said Mistry. “The Chinese consumer of vegetable oils has tightened his belt and we have not seen the strong year-on-year rise in consumption as in the past.”
06.34
Malaysia Palm Oil Climb Indonesia Increase in 2012
Written By mine on Rabu, 14 Maret 2012 | 06.34
Palm oil from Malaysia in 2012 climb and Indonesia palm oil will increase production. Palm oil output in Malaysia, the second-biggest grower, is expected to climb to 19.4 million tons this year from a record 18.9 million tons in 2011, according to the Malaysian Palm Oil Board. From March, output each month will be less on a year-on- year comparison due to a low output cycle, leading to “flat” growth of as much as 19 million tons in 2012, Mistry estimates.
With crude oil trading above $100 a barrel and signs that the U.S and European Union economies are stabilizing, palm oil may climb as more investors buy commodities, said Bajoria.
While global palm-oil output is set to increase 2.3 million tons this year, that won’t be enough to counter lower production of other oils including soybean and rapeseed, Thomas Mielke, executive director Oil World, said March 7. Global soybean production may drop by 20 million tons to 245.53 million tons after drought hurt crops in South America, he said.
“There is so much liquid money throughout the world, through the hedge funds and the new money injected via the European central bank,” he said. “The money travels to the destinations where the best returns can come.”
Palm oil will advance 3.4 percent to the highest in more than a year by June as cooking-oil supplies drop to the lowest in more than three decades, a survey showed.
The tropical oil will gain to 3,500 ringgit ($1,147) a metric ton from 3,385 ringgit at the close on the Malaysia Derivatives Exchange today, according to the median estimate in a Bloomberg survey of 10 analysts and traders who attended a conference in Kuala Lumpur last week.
Inventories of palm, soybean, rapeseed and six other oils will drop below 30 days of consumption this year, the fewest since 1977, U.S. Department of Agriculture data show. Global food prices rose for a second consecutive month in February on higher costs for cereals, cooking oils and sugar, as shown by the index of 55 food items tracked by the United Nations’ Food and Agriculture Organization.
“The stocks-to-usage ratio is going to be much lower this year, so that will boost prices,” said Sandeep Bajoria, chief executive officer of Sunvin Group, a Mumbai-based commodities trader, who predicts a high of 3,700 ringgit.
Futures climbed as high as 3,395 ringgit today, the most expensive since June 6. Prices have gained 6.6 percent this year compared with a 0.9 percent advance in the Standard & Poor’s GSCI Agriculture Index of eight commodities. The commodity last reached 3,500 ringgit in March last year.
The UN food index increased 1.2 percent in February from a month earlier and the gauge of edible oils and fats rose 2.1 percent. The cost of food may remain near current levels in coming months as demand drains increased supply, Abdolreza Abbassian, a senior FAO economist, said March 8.
The edible oil may climb to a four-year high of 4,000 ringgit ($1,310) by June and then drop to $1,150 to $1,200 on a free-on-board basis, according to Dorab Mistry, director at Godrej International Ltd., who has traded the commodity for three decades. Michael Coleman, managing director at Aisling Analytics Pte, said last month the price may climb to $1,300.
With crude oil trading above $100 a barrel and signs that the U.S and European Union economies are stabilizing, palm oil may climb as more investors buy commodities, said Bajoria.
While global palm-oil output is set to increase 2.3 million tons this year, that won’t be enough to counter lower production of other oils including soybean and rapeseed, Thomas Mielke, executive director Oil World, said March 7. Global soybean production may drop by 20 million tons to 245.53 million tons after drought hurt crops in South America, he said.
“There is so much liquid money throughout the world, through the hedge funds and the new money injected via the European central bank,” he said. “The money travels to the destinations where the best returns can come.”
Palm oil will advance 3.4 percent to the highest in more than a year by June as cooking-oil supplies drop to the lowest in more than three decades, a survey showed.
The tropical oil will gain to 3,500 ringgit ($1,147) a metric ton from 3,385 ringgit at the close on the Malaysia Derivatives Exchange today, according to the median estimate in a Bloomberg survey of 10 analysts and traders who attended a conference in Kuala Lumpur last week.
Inventories of palm, soybean, rapeseed and six other oils will drop below 30 days of consumption this year, the fewest since 1977, U.S. Department of Agriculture data show. Global food prices rose for a second consecutive month in February on higher costs for cereals, cooking oils and sugar, as shown by the index of 55 food items tracked by the United Nations’ Food and Agriculture Organization.
“The stocks-to-usage ratio is going to be much lower this year, so that will boost prices,” said Sandeep Bajoria, chief executive officer of Sunvin Group, a Mumbai-based commodities trader, who predicts a high of 3,700 ringgit.
Futures climbed as high as 3,395 ringgit today, the most expensive since June 6. Prices have gained 6.6 percent this year compared with a 0.9 percent advance in the Standard & Poor’s GSCI Agriculture Index of eight commodities. The commodity last reached 3,500 ringgit in March last year.
The UN food index increased 1.2 percent in February from a month earlier and the gauge of edible oils and fats rose 2.1 percent. The cost of food may remain near current levels in coming months as demand drains increased supply, Abdolreza Abbassian, a senior FAO economist, said March 8.
The edible oil may climb to a four-year high of 4,000 ringgit ($1,310) by June and then drop to $1,150 to $1,200 on a free-on-board basis, according to Dorab Mistry, director at Godrej International Ltd., who has traded the commodity for three decades. Michael Coleman, managing director at Aisling Analytics Pte, said last month the price may climb to $1,300.
18.29
Indonesia Top Palm Oil Producer Expected Output 23 Million Tonne 2011
Written By mine on Sabtu, 19 November 2011 | 18.29
Top palm oil producer Indonesia is expected to produce 23 million tonnes this year on faster expanding acreage. Crude palm oil output in the world?s second largest producer could rise 2.2 per cent to 18.7 million tonnes from a projected 18.3 million tonnes in 2011 due to aggressive replanting, the Finance Ministry said in the 2011/2012 economic report.
Malaysia?s oil palm acreage will rise 4.1 per cent to 5.1 million hectares this year from 4.9 million hectares in 2010. Land under rubber was likely to expand 2.7 per cent to 1.1 million hectares this year from last year.
For the first eight months of this year, Malaysia produced 12 million tonnes of the tropical oil amid signs of weakening yields due to the after effects of El Nino-driven hotter weather in 2010.
?The oil palm industry is forecast to grow 7.1 per cent over the next five years, driven by further gains in average productivity,? said the report that was issued during Malaysia?s budget presentation.
Indonesian palm oil production forecast 2011-2012, palm output production 2011, the outlook of the palm oil industry 2011, Palm oil outlook 2011 - 2012, business outlook of palm oil industry in malaysia, indonesian palm oil output forecast 2012.
Malaysia?s oil palm acreage will rise 4.1 per cent to 5.1 million hectares this year from 4.9 million hectares in 2010. Land under rubber was likely to expand 2.7 per cent to 1.1 million hectares this year from last year.
For the first eight months of this year, Malaysia produced 12 million tonnes of the tropical oil amid signs of weakening yields due to the after effects of El Nino-driven hotter weather in 2010.
?The oil palm industry is forecast to grow 7.1 per cent over the next five years, driven by further gains in average productivity,? said the report that was issued during Malaysia?s budget presentation.
Indonesian palm oil production forecast 2011-2012, palm output production 2011, the outlook of the palm oil industry 2011, Palm oil outlook 2011 - 2012, business outlook of palm oil industry in malaysia, indonesian palm oil output forecast 2012.
06.02
Commodity Report Weekly, WTI Crude Prices Stood Firm Benchmark
Written By mine on Minggu, 28 Agustus 2011 | 06.02
WTI Crude prices stood firm at the 80.00 benchmark as it bounced higher to the 85.00 regions towards last weekend. We reckon that strong supports have been built up at S1?83.00 and S2?81.20 and might be tested again.
The market is likely to con?solidate and topside resistance is currently spotted at 88.00 levels. Abandon your long-view if the trend dips beneath 80.00 again.
Gold prices plunged US$210 from a high US$1,912 last week after CME Group raised the trading margin for COMEX Gold Futures.
On Friday, Bernanke spoke inJackson Hole,Wyomingin an annual event and mentioned that Federal Reserve governors have a series of tools to ensure economic recovery. No stimulus policy was mentioned but gold reversed up with DJIA.
This week, we foresee gold pric?es retrace down to the S1?1750.00 regions as sideway correction occurs. The market is rather choppy now due to quick funda?mental changes to the strength of the US dollar. We have spotted S2 to lie at 1,730 and favour patience to be practiced for picking long trades here.
Crude Palm Oil (CPO) Futures on Bursa Derivatives closed sharply lower on Friday?s session due to uncertainty in the global economy. We foresee market vol?atilities to slow down due to the coming long holiday season.
Last Friday, the market turno?ver volume was approximately 23,511 lots. CPO Futures in Sep?tember, October and November contracts measured per tonne closed at RM3,100, RM3,016 and RM2,975 ton respectively.
Technically speaking, the mar?ket trend was still threading from the 2,910 to 3,090 regions though sentiment was bias to bearish outlook. We expect the resistance to act firm at 3,000 levels unless it is broken to prove the bullish turnover.
The market is likely to con?solidate and topside resistance is currently spotted at 88.00 levels. Abandon your long-view if the trend dips beneath 80.00 again.
Gold prices plunged US$210 from a high US$1,912 last week after CME Group raised the trading margin for COMEX Gold Futures.
On Friday, Bernanke spoke inJackson Hole,Wyomingin an annual event and mentioned that Federal Reserve governors have a series of tools to ensure economic recovery. No stimulus policy was mentioned but gold reversed up with DJIA.
This week, we foresee gold pric?es retrace down to the S1?1750.00 regions as sideway correction occurs. The market is rather choppy now due to quick funda?mental changes to the strength of the US dollar. We have spotted S2 to lie at 1,730 and favour patience to be practiced for picking long trades here.
Crude Palm Oil (CPO) Futures on Bursa Derivatives closed sharply lower on Friday?s session due to uncertainty in the global economy. We foresee market vol?atilities to slow down due to the coming long holiday season.
Last Friday, the market turno?ver volume was approximately 23,511 lots. CPO Futures in Sep?tember, October and November contracts measured per tonne closed at RM3,100, RM3,016 and RM2,975 ton respectively.
Technically speaking, the mar?ket trend was still threading from the 2,910 to 3,090 regions though sentiment was bias to bearish outlook. We expect the resistance to act firm at 3,000 levels unless it is broken to prove the bullish turnover.
11.27
Crude Palm Oil Future Asian Eases On Profit-Taking External Cues
Written By mine on Selasa, 26 Oktober 2010 | 11.27
Crude palm oil futures on Malaysia's derivatives exchange eased Tuesday on profit-taking driven by weakness in overseas markets
and a firm dollar.
CPO futures held steady above the psychological level of MYR3,000 a metric ton, however, as production growth in October is likely to be weaker than earlier expected.
The benchmark January contract on the Bursa Malaysia Derivatives ended MYR18 lower at MYR3,053 a metric ton, after hitting a fresh 27-month high Monday at MYR3,084/ton, the highest level since July 28, 2008.
"October's production isn't likely to rise as sharply as previously thought, so fundamentals are still supporting the upside," said a vegetable oils exporter in Johor.
Prices may rally to resistance at MYR3,100/ton in the next trading session. he said.
Many trade participants have forecast an increase in October production of 5%-8% from the previous month, down from previous forecasts around 7%-15%.
September CPO production reached 1.56 million tons, according to data from the state-owned Malaysian Palm Oil Board.
"The correction in CPO prices is shallow and temporary. Any production
shortfall may induce buyers to buy more to fulfill export obligations," said a Singapore-based trading executive.
December soyoil futures on the Chicago Board of Trade futures had fallen 14 points in electronic trading to 49.33 cents a pound as of the end of trade on BMD.
In the physical market, trade was subdued with few trades reported, a
Singapore-based physical market broker said.
Palm olein cargoes for November were offered $5 lower at $1,020/ton.
Cash CPO for prompt shipment was offered MYR20 lower at MYR3,060/ton.
The most-active January rupiah-denominated CPO contract on the Indonesia Commodity and Derivatives Exchange was trading around 0.9% lower at IDR8,805/ton. The dollar-denominated January CPO contract on Globex was trading at $982/ton, down $6 from Monday's close.
Open interest on the BMD was 69,446 lots compared with 68,781 lots Monday, while 14,988 lots of CPO were traded compared with 19,159 lots. One lot is equivalent to 25 tons.
and a firm dollar.
CPO futures held steady above the psychological level of MYR3,000 a metric ton, however, as production growth in October is likely to be weaker than earlier expected.
The benchmark January contract on the Bursa Malaysia Derivatives ended MYR18 lower at MYR3,053 a metric ton, after hitting a fresh 27-month high Monday at MYR3,084/ton, the highest level since July 28, 2008.
"October's production isn't likely to rise as sharply as previously thought, so fundamentals are still supporting the upside," said a vegetable oils exporter in Johor.
Prices may rally to resistance at MYR3,100/ton in the next trading session. he said.
Many trade participants have forecast an increase in October production of 5%-8% from the previous month, down from previous forecasts around 7%-15%.
September CPO production reached 1.56 million tons, according to data from the state-owned Malaysian Palm Oil Board.
"The correction in CPO prices is shallow and temporary. Any production
shortfall may induce buyers to buy more to fulfill export obligations," said a Singapore-based trading executive.
December soyoil futures on the Chicago Board of Trade futures had fallen 14 points in electronic trading to 49.33 cents a pound as of the end of trade on BMD.
In the physical market, trade was subdued with few trades reported, a
Singapore-based physical market broker said.
Palm olein cargoes for November were offered $5 lower at $1,020/ton.
Cash CPO for prompt shipment was offered MYR20 lower at MYR3,060/ton.
The most-active January rupiah-denominated CPO contract on the Indonesia Commodity and Derivatives Exchange was trading around 0.9% lower at IDR8,805/ton. The dollar-denominated January CPO contract on Globex was trading at $982/ton, down $6 from Monday's close.
Open interest on the BMD was 69,446 lots compared with 68,781 lots Monday, while 14,988 lots of CPO were traded compared with 19,159 lots. One lot is equivalent to 25 tons.
