Author Topic: CPO Latest Updated News  (Read 127371 times)

Offline vincent88

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Re: CPO Latest Updated News
« Reply #100 on: September 30, 2014, 10:24:21 PM »
Malaysia's September CPO, refined palm oil exports jump 16% on month to 1.5 million mt


Malaysia's crude and refined palm oil exports rose 16.3% month on month to 1,497,828 mt in September, data from cargo surveyor Intertek released Tuesday showed.

Exports to Europe surged by 57.76% to 260,140 mt, and to India by 11.46% to 560,180 mt.

The export data was within market expectations. Malaysia had scrapped export taxes on CPO on September 4 in a bid to arrest a decline in prices, which had fallen to five-year lows, thereby making CPO and refined palm products attractive to overseas buyers.

Exports of CPO increased by 12.9% to 562,090 mt, and shipments of refined, bleached and deodorized palm oil shot up 46.7% to 104,920 mt compared to a month ago, the data showed

Offline vincent88

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Re: CPO Latest Updated News
« Reply #101 on: September 30, 2014, 10:25:23 PM »
Palm rises to 1-1/2 month high, heads for biggest monthly gain since April 2009

KUALA LUMPUR: Malaysian palm oil futures rose to their highest in one-and-a-half months on Tuesday and were headed for their biggest monthly rise in more than five years as strong export demand and gains in Chinese soyoil markets lifted sentiment.

Despite the swift recovery in palm prices this month, underlying concerns about swelling oilseed supplies capped the rally and set palm prices for its biggest quarterly drop in two years.

Exports of Malaysian palm oil products for September rose 16.3 percent from a month earlier to 1,497,828 tonnes, cargo surveyor Intertek Testing Services said, thanks to robust demand from India, China and Europe.

The recovery in export demand would help prevent another jump in inventories in the No.2 producer, traders said.

"The market is holding very well on the back of exports and the Dalian which is up a bit," said a trader with a foreign commodities brokerage in Kuala Lumpur. "It's in a trading range between 2,170 and 2,250 ringgit."

"But most commodity prices are at the doldrums, especially the whole grain complex. I don't think palm oil will be spared."

The benchmark December contract on the Bursa Malaysia Derivatives Exchange rose to 2,220 ringgit in early trade, the highest since Aug. 11, before settling at 2,216 ringgit ($677) per tonne at the midday break, a 1.3 percent gain.

Palm prices have gained nearly 15 percent this month and are heading for their biggest monthly gain since April 2009, after plunging to a more than five-year low of 1,914 ringgit early September.

The tropical oil, however, has lost 8.6 percent in the third quarter of this year and is facing its biggest quarterly loss since 2012.

Total traded volume stood at 17,593 lots of 25 tonnes each, above the usual 12,500 lots.

Technicals indicate palm oil may climb to a resistance at 2,224 ringgit, a break above which will lead to a further gain to 2,262 ringgit, according to market analyst Wang Tao. He added that the first support is at 2,163 ringgit and the second at 2,125 ringgit.

Chicago soybeans eased and were on track for their biggest quarterly loss in six years, with a more than 34 percent drop, on pressure from mounting US supplies and a strengthening dollar.

Higher supplies of soybeans for crushing would drag on soyoil prices and narrow palm's discount to the rival edible oil, and could potentially prompt buyers to switch over food and fuel needs to soy.

In vegetable oil markets, the US soyoil contract for December fell 0.7 percent in early Asian trade. The most active January soybean oil contract on the Dalian Commodities Exchange gained 1.2 percent.

Market players will also be keeping a close watch on Malaysia's palm oil inventories in September, after stocks jumped 22 percent to 2.05 million tonnes at end-August.

A recovery in export demand in September after Malaysia scrapped its export duties on the crude grade raised hopes that stockpiles would not continue to surge.

"End stocks are very important -- it could be marginally higher, or we could see a drawdown in September," the trader added.

Indonesia, as expected, also removed its crude palm oil export tax for October.

In other markets, Brent crude futures edged back down towards $97 a barrel on Tuesday because of ample supplies, a lacklustre global economy and the strengthening of the dollar to a four-year peak against a basket of major currencies.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #102 on: October 07, 2014, 10:33:34 PM »
Zero duty boosts CPO prices

THE impact from the imposition of zero export duty on crude palm oil (CPO) by Malaysia, and more recently Indonesia, has been gradually reflected in the current CPO price, which has gained some ground after falling to a five-year low last month.

In fact, international commodity trader Dorab Mistry told a Global Oils conference in Mumbai last week that for CPO futures to regain its competitiveness, the prices will need to drop to RM1,900 per tonne to revive consumption from major buyers.

Hence, the removal of CPO export duty is meant to make palm oil more competitive, he points out.

Malaysian Palm Oil Council chairman Datuk Lee Yeow Chor concurs that the effect of Malaysia and Indonesia’s recent policies to exempt CPO export duty will be positive on CPO prices going forward.

 
 
 

He is also optimistic that the CPO prices would rise towards year-end and next year.

“The CPO price, which has fallen to a five-year low just slightly above RM1,900 per tonne last month, has now increased by about 15% to an average of RM 2,230 per tonne.

He describes the duty exemption would result in a level playing field as well as a healthy competition between Malaysia and Indonesia, being the world’s largest palm oil producers.

The zero export duty on CPO by Malaysia could help increase the export volume of CPO, says Lee who expects a steady demand for palm oil by China given the upcoming Chinese New Year festival.

On the other hand, he points out that the increase in the export volume of CPO would result in a decline in the export volume of refined palm oil.

He believes that this is due to the negative refining margins among the palm oil refining industry players.

According to Lee, Malaysia need to be careful that there is a certain balance in maintaining the export volume between CPO and the refined palm oil.

Meanwhile, Malaysian Palm Oil Association (MPOA) chief executive officer Datuk Dr Makhdzir Mardan describes the recent exemption on Malaysia’s export duty on CPO for September and October this year as a reprieve for CPO producers and exporters.

“Particularly for the upstream stakeholders, in view of the anticipated peak CPO crop in October-November.

“This near-term measure will certainly help to alleviate the escalating end-month stocks towards the end of the year,” adds Makhdzir.

On the flip side, he expects the palm oil industry to experience the same phenomenon of peak production during the last quarter of the year with the peak crop months and high carryover stocks at the end of the year.

Towards the end of every year, Sabah and Sarawak are faced with the situation of inadequate infrastructure and logistics as well as the lack of availability of vessels for shipments of both crude and processed palm oils, in view of the wintering months and the high demand for crude petroleum products, hence consequently leading to “very high” carrying palm oil stocks, explains Makhdzir.

The situation of high stocks in mills and refineries in East Malaysia during the peak crop months is inevitable and coupled with the slow off take towards the end of the year; the industry is seriously hampered especially for the smallholders.

The slow off-take will also result in the slowdown in reception of CPO by refineries.

“It was during such times that palm oil mills in East Malaysia are not able to accept FFB from third parties when their storage tanks are full.

“The non-acceptance of FFB by millers would lead to no income and FFB being left to rot in the estates.

“The quality deterioration would set in and all the above would pose as a setback to the industry, as a whole,” he adds.

While the duty exemption will encourage CPO exports and helped ease the high carrying over stocks, which is the main determinant in pressuring prices, Makhdzir says there needs to be a more assertive policy instrument that can serve as a dynamic mechanism and long term strategy which will benefit the palm oil industry and the economy of the country. “The primary strategy here should be stock management.”

He points out that a more proactive and assertive biodiesel initiative for renewable energy policy is expected to serve as an instrument for a positive change to the policy of CPO excess stock management system.

Seemingly, the duty exemption may achieve its objective for September.

For October, in view of the current price development, Makhdzur says it is known by international palm oil buyers that the duty will be nil as “it would fall below the threshold price of RM2,250 per tonne.”

The international palm oil market is a continuous and on-going trade and we are all aware that European buyers buy far ahead while other consuming countries do buy at least one to three months ahead, for example, India for the Deepavali festival.

In addition, the nomination of vessels is not on an “available when required basis”.

Therefore, while there is export duty exemption for September and October but “there may not necessary be vessels availability during this period,” adds Makhdzir.

“As such, the palm oil industry players may be unable to capitalise on these opportunities. Therefore, a comprehensive approach is needed to address this excess stockpile issue which has become a permanent feature to the palm oil industry.”

He believes that the biodiesel policy can mop up the perennial excess CPO stockpiles, and that it is an opportunity for a solution.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #103 on: October 08, 2014, 11:30:20 PM »
Palm up for 3rd day on hopes for weaker output, but crude’s fall caps gains

KUALA LUMPUR: Malaysian palm oil futures stretched their winning streak into a third day on Wednesday, as the ringgit slackened and as investors expected output to drop this month, although a fall in crude prices hampered gains.

Planters and traders say palm oil output in No.2 grower Malaysia may ease in October as wet weather delays harvesting and crimps oil extraction rates from fresh fruit, indicating that production growth could have already peaked in August.

"The market is drudging along with mixed sentiments. The bullish factors are the weaker ringgit, lower output, and weather vagaries in November and December," said a trader with a local commodities brokerage in Malaysia.

But worries of bigger competition from the huge US and South American soybean crop alongside "anaemic" food and fuel demand during the northern hemisphere winter weighed on the tropical oil.

"With these factors, the market will remain sideways until more is known about MPOB's data," the trader added.

Brent crude futures fell below $91 a barrel on Wednesday to their lowest since June 2012, holding to a months-long tumble in prices as lower economic growth forecasts raised new concerns about global oil demand amid rising US inventory levels.

By the midday break, the benchmark December contract on the Bursa Malaysia Derivatives Exchange had edged up 0.8 percent to 2,198 ringgit ($671) per tonne.

The Malaysian ringgit fell 0.52 percent to trade at 3.276 per US dollar on Wednesday, making the ringgit-priced palm feedstock cheaper for international buyers.

Total traded volume stood at 20,022 lots of 25 tonnes each, nearly double the average 12,500 lots.

Technicals showed palm oil is expected to test resistance at 2,224 ringgit per tonne, with a good chance of breaking above this level and rising more to 2,262 ringgit, said Reuters market analyst Wang Tao.

Official data on stocks, output and exports for end-September will be released by industry regulator, the Malaysian Palm Oil Board (MPOB), on Friday.

A Reuters poll had pegged palm oil stocks in Malaysia to hold steady at 2.05 million tonnes at end-September, as a removal of export taxes did not boost shipments as much as initially expected.

The survey estimates that crude palm oil production in September fell 8 percent to 1.87 million tonnes, weakening after August's surge of 22 percent to 2.03 million tonnes.

Palm oil output may continue to fall in October due to the wet weather, industry players said.

The Malaysian Meteorological Department said the current "inter-monsoon season", marked by frequent thunderstorms in the afternoon, will likely carry on until early or mid-November before the wetter northeast monsoon unfurls.

Palm output typically drops in the wet season towards the end of the year as heavy rains and floods complicate harvesting and transportation of fruit to mills.

In other competing vegetable oil markets, the US soyoil contract for December shed 0.2 percent in early Asian trade. The most active January soybean oil contract on the Dalian Commodities Exchange edged up 0.1 percent after reopening from the one-week National Day holiday.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #104 on: October 09, 2014, 08:54:35 PM »
Palm prices to average RM2,300-2,400 in Q4

Palm oil prices are expected to average RM2,300-2,400 per tonne in the fourth quarter this year, according to the managing director of Malaysia's Sime Darby Bhd, the world's top oil palm planter by land size. Prices of the tropical oil should stabilise due to the strong festive demand at the end of the year, Franki Anthony Dass said on Thursday at a press conference. Benchmark palm oil prices had slumped around 27% in the first eight months of the year and dropped to a more than five-year low of RM1,914 (US$591.47) per tonne in early September amid a global glut of edible oils.
Futures have recovered around 14% since then to around RM2,173 now. For 2015, prices of the tropical oil are expected to climb up to between RM2,500-2,600, the executive said. Earlier in the day, Sime Darby said it would offer 1.073 billion pounds (RM5 billion) to buy smaller producer New Britain Palm Oil Ltd. – Reuters, October 9, 2014.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #105 on: October 11, 2014, 01:14:44 PM »
Malaysia End-September Palm Oil Stocks Rise, Exports Surge

SINGAPORE--Malaysia's palm oil stockpiles rose to an 18-month high at the end of September, although exports surged 13% from August, said the Malaysian Palm Oil Board Friday. Production fell 6.6% from a month earlier.

The sharp rise in exports was likely due to an export tax waiver on crude palm-oil shipments for September and October, as authorities seek to reduce stockpiles amid a price decline.

Palm-oil exports have been under pressure due to prospects of an abundant soybean crop this year, which makes soybean oil prices attractive. Supply of other oilseeds have also been healthy.

The following are details of the September crop data and revised numbers for August issued by MPOB:
                                    September        August    Change
                                                         On Month
Crude Palm Oil Output     1,896,899     2,031,754    Dn  6.6%
Palm Oil Exports              1,628,197     1,437,503    Up 13.3%
Palm Kernel Oil Exports     104,760        71,272       Up 47.0%
Crude Palm Oil Imports        2,670         2,523         Up  5.8%

Closing Stocks               2,089,859       2,053,175    Up  1.8%
Crude Palm Oil               1,178,046      1,133,453     Up  3.9%
Processed Palm Oil          911,813        919,722        Dn  0.9%

(All figures are in metric tons)



Offline vincent88

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Re: CPO Latest Updated News
« Reply #106 on: October 16, 2014, 10:14:58 PM »
The CPO Futures closed sharply lower today as the market reacted to damning reports on exports by the surveyors ITS and SGS for 1-15/Oct which saw export demand declining by 16-17%. Adding salt to the wound was the easing up of the Ringgit again. Volumes heavy at 59068 lots.

 PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS Oct’14 Nov’14 Dec’14 JFM’15 AMJ’15
RBD PALM OLEIN 690 690 687.5 687.5 690
RBD PALM OIL 685 685 682.5 682.5 685
RBD PALM STEARIN 690
PALM FATTY ACID DISTILLATES 585
CRUDE PALM OIL (M$) 2180
CRUDE PALM KERNEL OIL (M$) PER PICUL 170
RBD PALM KERNEL OIL 980
RBD PALM KERNEL OLEIN 850
RBD PALM KERNEL STEARIN 1200
INDONESIAN CRUDE PALM OIL Na 670 667.5 697.5 702.5

Offline vincent88

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Re: CPO Latest Updated News
« Reply #107 on: October 21, 2014, 12:01:32 AM »
Malaysia's Oct. 1-20 Palm Oil Exports 894,697 (-10.2%) Tons: Intertek

Offline vincent88

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Re: CPO Latest Updated News
« Reply #108 on: October 22, 2014, 09:19:29 AM »
Indonesia to Keep CPO Export Tax at Zero

Indonesia is expected to keep its export tax on crude palm oil (CPO) at zero for a second month in November, to remain competitive with rival grower Malaysia, which has also removed the tax. Benchmark CPO prices have dropped almost 20 percent this year and hit a 5 and a half year low of US$586 a ton last month in an oversupplied market.

In an attempt to give the market a boost, the world’s No. 2 palm oil producer, Malaysia, exempted the commodity from export taxes from September until the end of December. “Indonesia followed by slashing its monthly CPO export tax to zero for October from 9 percent in September and this is now likely to be extended into November,” Steaven Halim, an official at the Indonesian Palm Oil Association, said.

If international CPO prices drop below $750 a ton, the Indonesian export tax is automatically cut to zero. Indonesia’s government looks at average international and domestic CPO prices before announcing its monthly CPO export tax rates. The decision on November is due in the final week of October. (*)

Offline vincent88

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Re: CPO Latest Updated News
« Reply #109 on: October 22, 2014, 09:21:28 AM »
Indonesian Palm Oil Reserves Shrinking Most in 19 Months


Palm oil stockpiles in Indonesia probably slumped last month by the most since February 2013 as a dry spell reduced output in the largest supplier. Futures rose.

Inventories dropped 12 percent from August to 2.2 million metric tons, according to the median of six estimates from planters, traders, analysts and refiners compiled by Bloomberg. Production fell 9.8 percent to 2.3 million tons, the biggest decline this year, the median of five estimates shows.

Futures plunged 20 percent this year on swelling global supplies of cooking oils, including a record U.S. soybean harvest. That spurred Indonesia and Malaysia, which is the second-largest producer, to waive export duties. Dry conditions last month will worsen the impact on yields from a drought in the first quarter, according to PT Mandiri Sekuritas.

“The effect from the drought at the start of the year has begun to materialize,” said Hariyanto Wijaya, a Jakarta-based analyst at Mandiri Sekuritas. “The first-quarter dryness, coupled with very dry conditions in September, have really hurt output. Production may have peaked,” he said by phone Oct. 17.

Futures rose 0.4 percent to 2,139 ringgit ($656) a ton on Bursa Malaysia Derivatives today, after touching 1,914 ringgit on Sept. 2, the lowest since 2009. Shipments fell to 1.696 million tons in September from 1.72 million tons a month earlier, the Indonesian Palm Oil Association, known as Gapki, said in a statement today. That compares with the median estimate of 1.7 million tons in the survey.

Zero Tax

Shipments declined as some exporters deferred sales to October to benefit from the zero tax rate, said Joelianto, trading director at PT Sinar Mas Agro Resources & Technology. Exports to India, the top buyer, fell 38 percent to 305,330 tons and shipments to China, the second-biggest importer, dropped 31 percent to 56,260 tons, Gapki said in the statement.

Malaysia scrapped the export tax for two months in September and will extend the waiver until December, Prime Minister Najib Razak said Oct. 10. Reserves in the country expanded last month to the highest since March 2013 even as production dropped, palm oil board data show.

Indonesia cut the levy from 9 percent in September. The country sets the monthly export tariff according to a formula based on average prices in Jakarta, Rotterdam and Kuala Lumpur. Crude shipments attract no tax if the average is $750 or less.

“Over the past month, rainfall has been well below normal across southern Sumatra and most of Kalimantan,” Kyle Tapley, meteorologist at MDA Weather Services, said in an e-mail on Oct. 17. “Rains are expected to increase across Kalimantan over the next couple of weeks. Drier than normal weather should continue in southern Sumatra, however, which will maintain significant dryness and stress on palm growth.”

Forest fires in Sumatra also disrupted field work in the main producing areas last month, said Sahat Sinaga, executive director of the Indonesian Vegetable Oil Industry Association. Haze from the fires delayed flights to and from Sumatra as pollution neared levels considered dangerous to health. There were 153 hot spots in Sumatra, Sutopo Purwo Nugroho, spokesman for the national disaster mitigation agency, said Oct. 12.
     Sept. 2014 (Survey)   Aug. 2014   Sept. 2013
Output           2.30         2.55        2.40
Stockpiles       2.20         2.50        2.23
Exports          1.70         1.72        1.64
NOTE: Figures are in millions of tons


Offline vincent88

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Re: CPO Latest Updated News
« Reply #110 on: October 22, 2014, 09:22:45 AM »
Malaysian palm oil ticks up on lower output, firm soybeans

SINGAPORE: Malaysian palm oil futures edged higher on Tuesday, recouping some of last session's losses with expectations of lower production of the tropical product and higher soybean prices underpinning the market.

Chicago soybean futures rose 0.5 percent to snap a two-session losing streak, supported by the slow pace of harvesting in the United Stated and as dryness delayed planting in Brazil.

Palm oil production in Malaysia and Indonesia is expected decline in the months ahead as a result of dry weather earlier this year.

The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange rose 0.2 percent to 2,136 ringgit ($655) per tonne by the midday break. Traded volume stood at 14,518 lots of 25 tonnes, slightly above the usual average of 12,500 lots.

Still, the gain in palm oil futures could be short-lived on expectations of record US soybean production, which is likely to boost competition in the world edible oil market.

"A decline in production and duty free exports of crude palm oil are supportive factors for the market but when we look at the global picture it shows abundant supplies," said one Kuala Lumpur-based trader. "We expect prices to trade in a tight range of 2,100 to 2,200 ringgit a tonne until the year-end."

Palm oil futures may end the year 2 percent above current levels due to lower output in Malaysia, the second-biggest producer, but abundant supplies of rival oilseeds mean prices will still close down about 19 percent for the year, a Reuters poll showed.

Crude palm oil output in Indonesia, the world's top producer, is expected to have dropped 3 percent in September, a survey of leading industry officials showed, easing due to dry weather conditions earlier in the year.

Cargo surveyor Intertek Testing Services reported that exports of Malaysian palm oil products for Oct. 1-20 fell 10.2 percent to 894,697 tonnes compared with the same period in September, recording a slight improvement from steeper losses earlier in the month.

Another cargo surveyor, Societe Generale de Surveillance said exports during the period fell 11.4 percent to 884,628 tonnes from 998,689 tonnes shipped during Sep. 1-20.

There was additional support for palm oil stemming from firm crude oil values.

Brent held above $85 a barrel as robust China oil demand supported prices although gains were capped by oversupply and lingering fears of a weak global economy.

China's Dalian soybean oil gained 0.1 percent, while US soyoil added 0.4 percent.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #111 on: October 29, 2014, 11:16:03 PM »
Something From Dhorab Mistry

Crude palm oil futures on the Bursa Malaysia Derivatives have bottomed out and
 will likely trade in the MYR2,100-MYR2,300 a metric ton range in the next few
 weeks, said vegetable oil analyst Dorab Mistry at an industry event in Kuala
 Lumpur on Wednesday.
 Export demand pushed up benchmark global CPO futures on the Malaysian exchange
 by 17% after it hit a five-year low in early September. Export demand rose after
 the Malaysian government scrapped an export tax on the oil. However, the run-up
 made CPO prices uncompetitive against other vegetable oils, which are in
 abundant supply this year.
 "The market clearly over-ran itself," said Mr. Mistry, who is also a
 London-based director at Indian conglomerate Godrej International Ltd. The tax
 waiver gave a MYR300/ton boost to the market, he noted.
 Palm should now move in range and rise steadily from Dec. 10 to MYR2,500/ton
 by March due to declines in production and stockpiles.
 "I believe the worst is over for oilseed farmers and plantations. Downside can
 now come only from massive South American (soybean) crops or from
 contra-cyclical jump in CPO production or from a major world economic crisis.
 Barring these, the palm plantation and processing industry can look forward to
 steady demand and improving prices," he added.
 Benchmark January BMD crude palm oil futures closed 0.6% higher at
 MYR2,226/ton at midday on Wednesday.
 Crude palm oil prices have been rocky for most of this year, hitting an
 18-month high in March due to a dry spell and forecasts of an El Nino event
 before tumbling to hit a five-year low of MYR1,914/ton on Sept. 2. The slump was
 due to the slow emergence of the forecast El Nino weather phenomenon, which is
 typically associated with dryness in Asia, as well as forecasts of bumper
 competing oilseed crops this year.
 Bullish calls fuelled by ambitious targets to propel biodiesel consumption at
 home in Indonesia and Malaysia also fell flat as both countries missed targets.
 The two countries account for about 85% of the world's palm oil production.
 On the production front, output is slowing as the effect of a six-week dry
 spell in February and March this year takes its toll. Output will drop further
 after November on seasonal factors, which will cause a draw down in stocks
 through the first six months of 2015, said Mr. Mistry.
 Malaysia's palm oil production is likely to hit 19.6 million to 19.8 million
 tons, down from an earlier forecast of 19.8 million to 20 million tons, said Mr.
 Mistry.
 Indonesia's palm oil output is likely worse due to a longer period of dry
 weather. Production is likely to drop to 30 million tons from 30.5 million tons
 this year. Current dry weather, now in its fifth month, will likely hit
 production in 2015.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #112 on: November 01, 2014, 10:29:44 PM »
*MALAYSIA'S OCT. 1-31 PALM OIL EXPORTS 1,468,105 TONS: INTERTEK

Oct. 31 (Bloomberg) -- Shipments dropped 2% from 1,497,828
 tons in Sept., according to Intertek.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #113 on: November 01, 2014, 11:09:44 PM »
UPDATE 1-Malaysia's palm stocks to ease in 2014, 2015 as demand picks up -MPOB

Oct 31 (Reuters) - Malaysian palm oil stocks could drop 14 percent by the end of 2014 from 2.09 million at the end of last month, a senior official of the Malaysian Palm Oil Board (MPOB) said, as export demand and domestic food and fuel needs pick up.

Inventories are seen drawing down to 1.8 million tonnes by the end of the year, and are likely to end 2015 at 1.7 million tonnes, Ramli Abdullah, the head of the MPOB's economic unit, told an industry meeting in Kuala Lumpur on Friday.

"We expect exports to increase, due to the bigger population, especially in developing countries such as India and China," Ramli said on the sidelines of the conference.

"Our local consumption will also increase after we implement B7."

The "B7" mandate Malaysia announced on Tuesday aims to boost the palm oil content of biodiesel to 7 percent from 5 percent from November, as the world's No. 2 palm grower looks to cut stocks and prop up prices that have lost 13 percent this year.

The industry regulator had previously pegged stocks to range between 1.6 million and 1.8 million tonnes at the end of 2014, lower than the 1.99 million tonnes piled up at the end of 2013.

Output in Malaysia is expected to rise to 20.5 million tonnes in 2015, Ramli said, in the absence of extreme weather that could hurt yields.

Malaysia produced 14.66 million tonnes of crude palm oil between January and September, up 7 percent from a year earlier.

Exports of Malaysian palm oil were seen at 17.9 million tonnes in 2014, below forecasts for 18.5 million, but are expected to rise to 18.2 million in 2015.

Malaysia exported 18.15 million tonnes of palm oil in 2013, with China, India, Pakistan and Europe taking the bulk of shipments.

Ramli added that Malaysia exports more of its palm as compared to Indonesia, and an output increase could translate into bigger overseas sales and keep inventories in check.

Malaysian palm oil prices, which set the tone for global prices, are expected to trade between 2,300 and 2,500 ringgit per tonne in 2015, he added. Palm futures now trade at 2,303 ringgit per tonne.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #114 on: November 10, 2014, 11:52:06 PM »
BN 11/10 04:32 *MPOB SAYS MALAYSIA OCT. PALM OIL EXPORTS 1.61M TONS BN 11/10 04:31 *MPOB SAYS MALAYSIA OCT. PALM OIL STOCKS 2.17M TONS BN 11/10 04:31 *MPOB SAYS MALAYSIA OCT. PALM OIL OUTPUT 1.89M TONS

Malaysia Oct. Palm Oil Stocks 2.17m Tons; Est. 2.14m Tons2014-11-10 04:38:25.785 GMTBy Niluksi Koswanage Nov. 10 (Bloomberg) -- Palm oil stockpiles in Malaysia, world’s second-largest producer, rose 3.7% to 2.17m metric tons in Oct. from month earlier, Malaysian Palm Oil Board says instatement today.• Output declined 0.2% to 1.89m tons, while exports dropped 1.4% to 1.61m tons• NOTE: Est. according to Bloomberg survey showed inventories at 2.14m tons, production at 1.84m tons and shipments at 1.55m tons

Offline vincent88

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Re: CPO Latest Updated News
« Reply #115 on: November 10, 2014, 11:53:17 PM »
Malaysia Nov. 1-10 Palm Oil Exports 400,614 (+1.30%) Tons: Intertek

Nov. 10 (Bloomberg) -- Malaysian palm oil shipments for first ten days of Nov. rose 1.3% from 395,532 tons in Oct. 1-10, according to Intertek.

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Re: CPO Latest Updated News
« Reply #116 on: November 12, 2014, 12:06:31 AM »
Palm rises on weak ringgit, but prices seen range bound

KUALA LUMPUR: Malaysian palm oil futures edged up on Tuesday, supported by a weak ringgit, although trade was range bound as investors waited for clearer signal of where prices might head.

The Malaysian ringgit slid 0.37 percent to 3.3430 per US dollar as lower oil prices dampened sentiment towards the net oil exporter.

"The ringgit gave temporary support in the morning session, but there could be some selling pressure in the second half of the day," said a trader with a foreign commodities brokerage.

By the midday break, the benchmark January contract on the Bursa Malaysia Derivatives Exchange had edged up 0.1 percent to 2,241 ringgit ($670) per tonne.

Total traded volume stood at 12,001 lots of 25 tonnes, just below the usual 12,500 lots.

Technicals showed that palm oil may rebound further to 2,253 ringgit as it has climbed above resistance at 2,225 ringgit, Reuters market analyst Wang Tao said.

Analysts and traders say key data on the palm oil and soybean front released on Monday were void of big surprises and could keep palm futures range bound in the short term.

Malaysian Palm Oil Board data showed October palm oil stocks rose to a 20-month high of 2.17 million tonnes, slightly above the 2.16 million tonne estimated.

A much-watched US Department of Agriculture report sees the US soybean crop at a record 3.958 billion bushels, up less than 1 percent from October and just below trade forecasts averaging 3.967 billion.

"The key positive price drivers are seasonally lower palm oil output in the coming months, the increase in Malaysia's biodiesel mandate ... and upcoming festival restocking activities," said CIMB Investment Bank analyst Ivy Ng.

But this is offset by bumper US soybean supplies and weak crude oil prices, Ng added.

Brent crude traded around $82 a barrel on Tuesday, just above a four-year low hit last week, with a firm dollar and robust production from US shale oil fields offsetting a drop in output in Libya.

In other markets, the US soyoil contract for December was flat in early Asian trade, while the most active May soybean oil contract on the Dalian Commodities Exchange shed 0.4 percent.

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Re: CPO Latest Updated News
« Reply #117 on: November 19, 2014, 10:21:42 PM »
Malaysia Nov. 1-15 Palm Oil Exports 605,624 (-2.50%) Tons: SGS

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Re: CPO Latest Updated News
« Reply #118 on: November 20, 2014, 10:12:12 PM »
MALAYSIA'S NOV. 1-20 PALM OIL EXPORTS 837,329 (-6.4%) TONS: INTERTEK

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Re: CPO Latest Updated News
« Reply #119 on: November 24, 2014, 11:03:53 PM »
Analysis & Forecast of Indonesia’s Palm Oil Export and CPO Prices

Exports of Indonesian crude palm oil (CPO) and its derivatives increased 45.8 percent month-on-month (m/m) to 2.47 million metric tons in October 2014 primarily supported by the zero export tariff that was implemented by the Indonesian government per 1 October. Indonesia has a mechanism that when the average CPO price (which is calculated using international and local CPO prices) drop below USD $750 per metric ton, the export tax is scrapped. In early September, Malaysia had already implemented a zero CPO export tax.

Palm oil futures in Kuala Lumpur had touched 1,914 ringgit (approximately USD $572) per metric ton in early September 2014, the lowest since March 2009, and thus Malaysia (later followed by Indonesia) scrapped export taxes for CPO in an effort to boost sluggish CPO prices. Malaysian authorities have already announced that the zero export tariff will be maintained up to the year-end. Indonesian authorities, however, have not confirmed yet whether the 0 percent export tax will be extended into December (as this decision depends on the aforementioned price-mechanism) but chances are very slim that the government’s benchmark CPO price will exceed the USD $750 per metric ton level in December. Considering that there are still ample reserves of palm oil in Indonesia and Malaysia (on the back of strong production in 2013 and 2014) as well as other vegetable oils (soy, rapeseed and sunseed), we expect that the benchmark CPO price may touch USD $750 per ton again after March 2015. Indonesia’s Trade Ministry set its November 2014 benchmark CPO price at USD $665 per metric ton.

Although the performance of Indonesia’s palm oil export in October is good on a month-on-month basis, it can be labelled sluggish when compared to the export performance last year. In the first ten months of 2014, Indonesia’s overall CPO export stood at 17.5 million metric tons, a mere two percentage point improvement from the same period in 2013 (17.2 million metric tons).

Indonesia's October CPO export performance was not only supported by the 0 percent export tariff but also due to a sharp rebound in CPO demand from China, Indonesia’s second-largest CPO customer (after India). Exports to China improved as Indonesian palm oil producers now meet China's recently-introduced new regulations regarding pesticide residue. As a result, Indonesian CPO exports increased 390 percent m/m to 275.9 thousand tons in October 2014. Meanwhile, CPO demand from India also grew sharply in October. According to data from the Indonesian Palm Oil Association (Gapki), Indonesian CPO exports to India grew 140 percent m/m to 733.6 thousand tons in October. The main factor that explains this growth is the looming Indian import tariff hike for edible oils. The government of India plans to raise this import tax from 2.5 percent to 10 percent soon. Therefore - ahead of its implementation - Indian importers boost CPO imports to take advantage of the current lower import duties.

Indonesian CPO export to the USA declined sharply in October (95 percent m/m to 3.2 thousand tons) due to the abundant soybean supply in the world’s largest economy. Soybean oil and palm oil dominate the global market, accounting for about 60 percent of the world’s total edible oils production, and, as both commodities can substitute each other, food processors can alternate between the two commodities depending on favourable prices.

Indonesian Palm Oil Export in 2014:

Month       Volume (million tons)
January          1.57
February          1.58
March          1.79
April          1.38
May          1.70
June          1.79
July          1.84
August          1.72
September          1.69
October          2.47
Total         17.53

Source: Indonesian Palm Oil Association (Gapki)

There are a number of signs that point to improving global CPO prices in the coming months. Firstly, drought in several important CPO producing regions of Indonesia (Sumatra and Kalimantan) managed to curb recent CPO production rates, thus resulting in the country’s declining CPO reserves. Secondly, drought in Brazil (an important soybean producer) in October causes expectation about declining soybean output (which should boost soybean prices and thus make CPO a more attractive alternative). Thirdly, Indonesian CPO exports are expected to decline as domestic biofuel demand increases. In August 2013, the Indonesian government introduced an ambitious program that stipulates a higher mandatory content of fatty acid methyl ester (made from palm oil) in biodiesel products (the mandatory content was raised from 7.5 percent to 10 percent). This program was launched in a bid to curb costly oil imports (the main reason for the country’s wide current account deficit). As a result of this program, domestic palm-based biodiesel demand is expected to rise to 1.6 million tons in 2014, to 4.2 million tons in 2015, and to 8.85 million tons in 2016, thus curbing the global CPO supply. Lastly, palm oil enters the biological down-cycle in 2015, implying that production growth may not be as strong as it has been in 2013 and 2014.

The world’s palm oil output is dominated by Indonesia and Malaysia. Together, both countries account for between 85 to 90 percent of total global palm oil production. Indonesia is currently the world’s largest producer and exporter of palm oil.


Indonesian Palm Oil Production and Export:



    2007   2008   2009   2010   2011   2012   2013   2014¹
Production
(million metric tons)   16.8   19.2   19.4   21.8   23.5   26.5    27.0    30.5
Export
(million metric tons)    n.a   14.2   15.5   15.6   16.5   18.1    21.2    20.0
Export
(in USD billion)    n.a   15.6   10.0   16.4   20.2   21.6    19.0    18.0


¹ indicates forecast
Sources: Food and Agriculture Organization of the United Nations, Indonesian Palm Oil Producers Association (Gapki) and Indonesian Ministry of Agriculture



Offline vincent88

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Re: CPO Latest Updated News
« Reply #120 on: November 26, 2014, 12:08:15 AM »
Malaysia's Nov. 1-25 Palm Oil Exports 1,098,870(-3.30%) Tons: SGS


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Re: CPO Latest Updated News
« Reply #121 on: November 26, 2014, 12:19:24 AM »
Prices of CPO expected to recover

Crude palm oil (CPO) prices, which have plummeted since the beginning of the year, are expected to pick up in the next 12 months to a price range of RM2,600 to RM2,700 per tonne, say analysts.

MIDF Amanah Investment’s plantation analyst Nadia Kamil expects prices to recover within the next six to 12 months as demand recovers.

“The demand is expected to recover with the support of higher off-take from India and improvement in B7 bio-diesel programme implemented in November 2014.

“However, we believe the increase in demand will be marginal and it is insufficient to push CPO beyond RM3,000 per tonne.

Hence, we maintain our average CPO price forecast for 2015 as RM2,650 per tonne,” said Nadia.

However, in the short to medium term of the next three to six months, Nadia said demand is expected to shrink as major buyers from China and India are expected to reduce their palm oil consumption due to the winter season.

“Palm oil tends to solidify in cold temperature.

Given this background, we do not foresee any significant changes in CPO price movement. We expect CPO price to move between RM2,200 and RM2,500 per tonne during that timeframe,” said Nadia. For the next six to 12 months, palm oil supplies from Indonesia and Malaysia are expected to grow at a rate of 6% to 8% from 7% in the corresponding period this year.

Meanwhile, RHB Investment Bank Bhd’s plantation analyst Hoe Lee Leng said the pickup in prices is expected to happen in the first-quarter (1Q) of next year, with CPO prices expected to reach a range of RM2,600 to RM2,700 per tonne.

“Prices will pick up in the 1Q of next year as there would be a better implementation of the bio-diesel programme in Indonesia.

“Previously, prior to the election in Indonesia, there were many tenders that were not going through.

Now with the government policies, the bio-diesel programme will be implemented based on that mandate,” said Hoe.

Hoe, however, expects demand to slow down by the second-half of next year as production cycles increase during that timeframe.

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Re: CPO Latest Updated News
« Reply #122 on: December 01, 2014, 11:37:37 PM »
Malaysia's Nov. Palm Oil Exports 1,310,509 Tons (-10.5% mom) , SGS Report

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Re: CPO Latest Updated News
« Reply #123 on: December 06, 2014, 09:37:04 PM »
Palm Stockpiles in Malaysia Seen Advancing to 21-Month High

Palm oil inventories in Malaysia probably climbed to the highest since February 2013 as a tax exemption on exports failed to spur shipments from the world’s second-biggest producer.

Stockpiles rose 5.5 percent to 2.29 million metric tons in November from 2.17 million tons a month earlier, according to the median estimate from six planters, analysts and traders compiled by Bloomberg. Output fell for a third month, dropping 4.8 percent to 1.80 million tons, while exports dropped 7.8 percent to 1.48 million tons, the survey showed. The Palm Oil Board is set to release official data on Dec. 10.

Futures in Kuala Lumpur are headed for the third annual loss in four years as global cooking oil supplies expand and a plunge in crude oil to the lowest since 2009 reduces demand for blending with gasoline. Malaysia extended tax-free exports until the end of the year in a bid to reduce reserves that Kenanga Investment Bank Bhd. estimates will top 2 million tons by the end of December, exceeding the government’s 1.6 million target.

“The probability of stockpiles being near the government’s comfort levels is low because of weak exports,” said Alan Lim, an analyst at Kenanga in Kuala Lumpur. “The removal of tax is good for short-term demand and the short-term push in demand is already over. Inventories by year-end could be in the range of 2 million tons to 2.2 million tons.”

Containing Inventories

Futures plunged to 1,914 ringgit ($555) a ton on Sept. 2, the lowest since March 2009, prompting Malaysia to scrap the export tax to cap stockpiles at its year-end target. Reserves would have jumped to as high as 2.2 million tons without the tax exemption, Malaysia’s Ministry of Plantation Industries and Commodities said on Sept. 5.

Most palm oil exports from Indonesia, the world’s biggest supplier, became tax-free in October after prices fell below the average level used to calculate tariffs. The two countries supply about 86 percent of global output, the U.S. Department of Agriculture estimates.

“As long as prices are below 2,250 ringgit, the zero export tax will continue” in Malaysia, Lim said. “Prices may remain weak unless there is any disruption in production due to weather-related issues.”

Futures have fallen 18 percent this year and ended at 2,173 ringgit on the Bursa Malaysia Derivatives today, the highest level at close since Nov. 27. Palm’s discount to soybean oil more than doubled to $75.58 a ton from a three-year low of $35.38 on Nov. 11, according to data compiled by Bloomberg.

‘Losing Magic’

“Zero-export tax promotion may lose its magic as a widening price gap suggests that demand is switching from palm to soybean oil, especially during the cold season,” said Hiro Chai, associate director at CIMB Futures Sdn. in Kuala Lumpur. “Export numbers in December will not look good as consumers are not fond of palm in the cold season.”

Shipments from Malaysia retreated 9.8 percent to 1.32 million tons in November from 1.47 million tons a month earlier, Intertek, a surveyor, said on Dec. 1.

“The market is now concerned with what will be the production in December and January,” Paramalingam Supramaniam, a director at Pelindung Bestari Sdn. Bhd., said by phone from Selangor. “We can already see signs of a massive plunge in production in December because of extensive rainfall.”

Prices may reach 2,500 ringgit by March 4 and extend gains as inventories bottom around June, Dorab Mistry, director at Godrej International Ltd., said Nov. 28. Biodiesel policies in Indonesia will determine the direction of prices in the next 12 months, he said.
      Nov. 2014 (Survey)   Oct. 2014 (MPOB)   Nov. 2013 (MPOB)
Output          1.80             1.89               1.86
Stockpiles      2.29             2.17               1.98
Exports         1.48             1.605              1.53
Imports         0.05             0.083              0.015
Figures are in millions of tons.
NOTE: Import figure is the median of four estimates.


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Re: CPO Latest Updated News
« Reply #124 on: December 10, 2014, 09:43:41 PM »
MPOB Says Malaysia Nov. Palm Oil Stocks 2.28m Tons; Est. 2.29m

+------------------------------------------------------------------------------+

 BN 12/10 04:30 *MPOB SAYS MALAYSIA NOV. PALM OIL EXPORTS 1.51M TONS
 BN 12/10 04:30 *MPOB SAYS MALAYSIA NOV. PALM OIL STOCKS 2.28M TONS
 BN 12/10 04:30 *MPOB SAYS MALAYSIA NOV. PALM OIL OUTPUT 1.75M TONS

+------------------------------------------------------------------------------+

MPOB Says Malaysia Nov. Palm Oil Stocks 2.28m Tons; Est. 2.29m
2014-12-10 04:39:51.896 GMT

By Ranjeetha Pakiam
     Dec. 10 (Bloomberg) --  Palm oil stockpiles in Malaysia,world’s second-largest producer, rose 5.2% to 2.28m metric tons in Nov. from month earlier, Malaysian Palm Oil Board says in statement today.
  * Output declined 7.5% to 1.75m tons, while exports dropped 6.1% to 1.51m tons
  * NOTE: Est. according to Bloomberg survey showed inventories at 2.29m tons, production at 1.8m tons and shipments at 1.48m tons




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Re: CPO Latest Updated News
« Reply #125 on: December 10, 2014, 09:49:38 PM »
Malaysia’s Dec. 1-10 Palm Oil Exports 407,425 (+1.7%) Tons: Intertek

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Re: CPO Latest Updated News
« Reply #126 on: December 10, 2014, 11:25:17 PM »
Indonesia, Malaysia seen keeping crude palm exports duty-free in January

Indonesia and Malaysia, the world's top palm growers, will probably keep shipments of crude palm oil duty-free in January as prices struggle to pull away from five-year lows, and some players expect that to continue through the first quarter of 2015. "I don't think Malaysia and Indonesia are keen to resume export taxes yet," leading vegetable oil analyst Dorab Mistry said. "With the current downward wave in prices as a result of the fall in crude oil, it is very strongly felt by me that Malaysia will announce an exemption from export taxes for first quarter 2015. I would recommend such a decision," he added.

Benchmark palm oil prices on the Bursa Malaysia Derivatives Exchange were trading at RM2,174 per tonne today. The contract has lost more than 18% this year, hitting a low of RM1,914 in September. Mistry, who heads the vegetable oil trading arm at India's Godrej Industries, said the threshold for Indonesian taxes to come into effect was unlikely to be reached for January if crude oil prices stayed weak. Indonesia decides on its monthly crude palm oil export tax rate by looking at average international and domestic prices. If these fall below US$750 a tonne, the levy is dropped. Malaysia uses a calculation based on average monthly prices provided by the Malaysian Palm Oil Board, the industry regulator. A monthly average above RM2,250 will trigger an export tax that starts from 4.5%. However, the final decision is made by the government. Malaysia scrapped its export taxes for the crude grade from September until end-December to encourage overseas sales and cushion the fall in prices.
Top grower Indonesia followed suit in October as it strived to remain competitive with its rival and market participants said that could boost palm oil's share of global vegetable oil consumption. Indonesia will also probably keep its palm oil tariff unchanged in January, said Steaven Halim, an official at the Indonesian Palm Oil Association Market players are optimistic that the tax exemption could spur demand in palm's biggest consumers, including China, which will be stocking up on the tropical oil ahead of Lunar New Year festivities in February. "If the tax is zero, it's good for buyers, definitely," said a palm oil trader with a foreign commodities brokerage in Kuala Lumpur. "Both governments, considering prices have fallen so much, may engineer something where they will keep the taxes at zero," he added, expecting Malaysia to keep the rate at zero until March. – Reuters, December 10, 2014.

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Re: CPO Latest Updated News
« Reply #127 on: December 16, 2014, 12:01:37 AM »
Malaysia,s Dec. 1-15 Palm Oil Exports 618,134 (+2%) Tons, SGS Reports


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Re: CPO Latest Updated News
« Reply #128 on: December 19, 2014, 12:21:31 AM »
Palm edges up on crude oil recovery; heavy rains eyed

KUALA LUMPUR/JAKARTA: Malaysian palm oil futures edged up on Thursday, lifted by a small recovery in crude oil prices, while wet weather warnings across parts of the second-largest grower stoked concerns that yields of the tropical oil will drop this month.

Malaysia's metereological department issued an "orange" warning on its website for heavy rain across the states of Sabah, Kelantan, and Terengganu, expected to persist until the end of the week. Rains are also expected across Pahang.

Sabah is Malaysia's top growing palm state, and together with Pahang accounts for about 45 percent of the country's total crude palm oil supply.

Prolonged rains can cause flooding in palm estates, complicating harvesting and transportation of fresh fruit to mills.

A palm oil trader with a foreign commodities brokerage told Reuters palm prices are edgding up on concerns over the wet weather and floods in some areas, alongside hopes of a recovery in crude oil prices.

Brent crude edged further above $61 a barrel on Thursday, after sharply lower prices forced companies to cut upstream investments around the world.

By 0715 GMT, the benchmark March contract on the Bursa Malaysia Derivatives Exchange was up 0.9 percent at 2,150 ringgit ($618) per tonne. Total traded volume stood at 23,827 lots of 25 tonnes.

Some market players said that the contract was also supported by a technical rebound that kicked in after prices touched 2-week lows of 2,103 ringgit in the previous session.

"The market has a trading range of 2,100 ringgit to about 2,200 ringgit. The last few days it came off quite a bit so there is some technical rebound," said a second Kuala Lumpur-based trader.

"You can see that as the market goes closer to 2,100 ringgit there is a buying opportunity," the trader added.

Technical charts showed palm oil is expected to test resistance at 2,178 ringgit per tonne, a break above which will lead to a further gain to 2,216 ringgit, according to Reuters market analyst Wang Tao.

In competing vegetable oil markets, the most active May soybean oil contract on the Dalian Commodity Exchange shed 0.1 percent in early Asian trade, while the US soyoil contract for January gained 0.3 percent.

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Re: CPO Latest Updated News
« Reply #129 on: December 19, 2014, 11:32:33 PM »
Malaysia to keep crude palm oil exports tax-free until end-Feb -govt official


Dec 19 (Reuters) - Malaysia will keep exports of crude palm oil duty-free until end-February, a senior government official said on Friday, as the world's second-largest grower tries to boost demand and cut stockpiles that have ballooned to a 21-month high.

Tax-exempted exports for a sixth straight month may provide some relief to benchmark Malaysian palm prices that have tumbled 20 percent this year on fears of record supplies of rival oilseeds and a rout in crude oil markets.

Sustained losses in palm, the world's most traded vegetable oil, could hurt earnings of major planters such as Sime Darby , Kuala Lumpur Kepong and Golden Agri , and threaten the livelihood of smallholders.

"As a temporary move, the government has decided to exempt the 4.5 percent export tax on crude palm oil from Sept. 1, 2014 to Feb. 28, 2015," Malaysia's plantation industries and commodities minister Douglas Uggah Embas said.

"The move is aimed at boosting crude palm oil exports and reducing stocks, which will then give a positive impact on local palm oil prices," he said at an industry event.

Some industry players and analysts had expected Malaysia to allow duty-free shipments until March to help prices pull away from five-year lows of 1,914 ringgit ($551) per tonne hit in September. Prices are now at 2,150 ringgit.

Top palm grower Indonesia will announce its decision for January crude palm oil export taxes later this month. It had scrapped the levy from October to December.

Malaysia usually calculates its CPO tax using average monthly prices provided by the industry regulator the Malaysian Palm Oil Board, where a monthly average above 2,250 ringgit will trigger taxes that start from 4.5 percent. But the final decision is taken by the government.

Inventories in Malaysia rose to 2.28 million tonnes at end-November, their largest since Feb. 2013, on sluggish overseas sales which led to supplies outstripping demand.

The tax incentive, however, could help spur demand for the tropical oil from palm's biggest consumers as it comes at a time where No.2 edible oil buyer China restocks ahead of its Lunar New Year festivities next year. ($1 = 3.4750 ringgit) (Editing by Himani Sarkar)

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Re: CPO Latest Updated News
« Reply #130 on: December 22, 2014, 08:59:41 PM »
Malaysia's Dec. 1-20 Palm Oil Exports 911,595 (+8.9%) Tons: Intertek

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Re: CPO Latest Updated News
« Reply #131 on: December 25, 2014, 11:05:50 PM »
Palm Oil Production in Malaysia Seen Falling 11% in December

PALM oil output in Malaysia, the biggest producer after Indonesia, will probably drop the most in 10 months in December amid a seasonal decline in yields. Prices climbed to the highest in almost a month.

Production is set to fall 11 per cent to 1.56 million tons from 1.75 million tons in November, according to the median of five analyst and trader estimates compiled.

That would be the lowest for December since 2011 and 6.6 per cent less than a year earlier, Malaysian Palm Oil Board data show.

Futures in Kuala Lumpur are heading for the third annual loss in four years as global cooking oil supplies expand and a plunge in crude to the lowest since 2009 reduces demand for alternative fuels. Indonesia and Malaysia have scrapped export taxes to help cut reserves. Output typically declines from November through February because of the low-production season and as rains disrupt harvesting.

"It's highly dependent on the weather," Ivy Ng, an analyst at CIMB Investment Bank Bhd. in Kuala Lumpur, said by phone on Dec. 19. "We have a bit of flooding here and there, but we don't know how long it will last, and which areas are affected, and whether it has affected harvesting. More clarity will be seen at the end of the month."

Futures rose as much as 1.2 per cent to 2,236 ringgit ($639) a metric ton on Bursa Malaysia Derivatives today, the highest level since Nov. 27, before trading at 2,235 ringgit by 4:49 p.m. local time. Prices have declined 16 per cent this year.

The northeast monsoon brings widespread, continuous rains which often cause floods along the east coast states of Peninsula Malaysia from mid-November to early January, the Malaysian Meteorological Department said in its monthly report.

The precipitation usually reaches Sabah and Sarawak from late this month until early February, it said. The two states are the largest producers of palm oil.

Traders are monitoring output in December to see if the country can reach its full-year target, according to Chandran Sinnasamy, executive director at LT International Futures Sdn. in Kuala Lumpur.

Malaysia may produce a record 19.5 million tons this year from 19.2 million tons in 2013 on higher yields from fresh fruit bunches, the Finance Ministry said Oct. 10. Adding the survey estimate to Palm Oil Board data for the first 11 months gives output of 19.86 million tons.

Inventories may decline 4 per cent to 2.19 million tons by the end of the year from a month earlier, according to Alan Lim, an analyst at Kenanga Investment Bank Bhd. He expects output to drop 11 per cent in December from November and to extend the decline in January, keeping prices above 2,100 ringgit, he said. Production, which reached a record 2.03 million tons in August, should recover in April, Lim said

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Re: CPO Latest Updated News
« Reply #132 on: December 26, 2014, 09:35:46 PM »
Malaysia’s Dec. 1-25 Palm Oil Exports 1,083,151(-1.4% mom) Tons: SGS

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Re: CPO Latest Updated News
« Reply #133 on: December 28, 2014, 10:20:15 PM »
Malaysia's monsoon floods seen crippling December palm supply - industry


* Malaysia's December palm output seen plunging around 18 pct

* Nearly 120,000 evacuated in the worst monsoon floods in decades

* Prices seen between 2,200 and 2,300 ringgit

By Anuradha Raghu

KUALA LUMPUR, Dec 26 (Reuters) - Severe monsoon flooding in Malaysia that has forced more than a hundred thousand people to evacuate, is likely to cause a bigger-than-expected disruption to crude palm oil production in the world's No.2 producer, planters and traders said.

This will give legs to the recovery in benchmark Malaysian palm oil prices, which plunged to their five-year lows of 1,914 ringgit ($549) three months ago on fears of overwhelming supplies of rival oilseeds, and took another beating in early December from a slide in crude oil prices.

Floods in key palm-growing areas would hinder harvesting, transportation and crushing of fresh palm fruits, leading to tighter supplies of the world's most traded vegetable oil in December and early 2015.

"This year the floods are quite bad. It's worse than normal. A lot of the east coast estates are not functional now - they are under water," said Roy Lim Kiam Chye, group plantations director at Malaysia's Kuala Lumpur Kepong.

"The question is the supply that will be affected. Even when harvesting resumes, there will be a lot of quality problems."

Thunderstorms prevent plantation workers from harvesting fresh fruit bunches from oil palm trees, leaving them to overripe and in some cases rot.

Fruits that do get harvested, however, may not make it to mills in time to be crushed as roads are inundated with water, or may have to be turned away as mills are shut due to flooding.

The delay in crushing and exposure to excess water drive up the free fatty acid (FFA) content in crude palm oil, reducing its quality.

"If you got a 7 percent free fatty acid (content), which is 2 percent above the maximum permitable tradeable level, then you're going to have higher losses and problems to run the bad quality oil through the machinery," said a second Malaysian-based planter, who declined to be named.

"Output will drop 5 percent more than it would have been for December," the planter added, and estimates production could now drop 18 percent from November to around 1.43 million tonnes.

The number of people evacuated from their homes rose sharply to nearly 119,000 as 0700 GMT on Friday from 35,000 on Tuesday, state news agency Bernama reported, in what local authorities say is the nation's worst flooding in decades.

The worst-hit states are Kelantan, Terengganu, Pahang and Perak, which together account for about 30 percent of Malaysia's palm supply.

A group of millers in southern Peninsular Malaysia earlier this week estimated that output across Pahang, Johor and Malacca tumbled 36 percent between Dec. 1 and 20 from a month earlier, traders said, as heavy rains take its toll on palm's seasonally weaker cycle.

Malaysia's meteorological department expects more monsoon rains until the end of the year, its website showed.

Palm prices, which closed at 2,249 ringgit on Friday and posted their biggest weekly gain in two months, would be underpinned by concerns about the steep drop in output and investors refraining from any sell-off, traders said.

"If you're a palm oil player and you see parts of the country under water, you're not going to take the risk," said the second Kuala Lumpur-based trader, who sees prices finding a new support at 2,200 ringgit.

However, four planters and traders contacted by Reuters expect any rally in the near term to be capped at 2,300 ringgit as worries of weak crude prices and record supplies of soybeans linger. ($1 = 3.4890 ringgit) (Editing by Subhranshu Sahu)

Offline vincent88

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Re: CPO Latest Updated News
« Reply #134 on: January 02, 2015, 11:19:47 PM »
Malaysia Dec. Palm Oil Exports 1,312,655 (-0.87% mom)Tons: Intertek

Offline vincent88

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Re: CPO Latest Updated News
« Reply #135 on: January 03, 2015, 11:34:03 PM »
CIMB expects palm oil prices to remain firm amid flood damage

KUALA LUMPUR, Jan 2 ― Floods that hurt palm oil production across Malaysia will exacerbate a seasonal decline in output and help to cut inventories, according to CIMB Investment Bank Bhd, which said that it expected prices to remain firm. The inundation affected about 184,000 hectares (455,000 acres), or about 3.5 per cent of the country’s total planted area, with the states of Kelantan, Pahang and Terengganu worst- hit, analyst Ivy Ng wrote in a report dated today. Output may have dropped 20 per cent to about 1.4 million metric tonnes last month from November, Ng said, citing an estimate from Plantation Industries and Commodities Minister Douglas Uggah Embas. Palm oil rallied this week to the highest level in almost two months on concern the wetter-than-usual weather that stretched from southern Thailand, through Malaysia and into Indonesia may hurt supplies. The floods displaced hundreds of thousands, damaged infrastructure and prompted the government in Malaysia to prioritize flood-mitigation works. The country is the world’s largest palm oil producer after Indonesia. “We need an immediate assessment of the damages,” Deputy Prime Minister Muhyiddin Yassin was cited as saying by the New Straits Times today. Infrastructure, such as roads and bridges, was affected, according to Muhyiddin, who was in Perak state overseeing flood-relief efforts. Palm oil for March delivery was 0.6 per cent lower at RM2,253 a tonne on Bursa Malaysia Derivatives at the midday break in Kuala Lumpur. The price rallied to RM2,308 on December 29, the highest since November 4. Last month it advanced 4.3 per cent, paring an annual decline, as the floodwaters spread. Lower inventory “The flood and the seasonally low-production season is likely to exacerbate the drop in crude palm oil output in the December 2014-January 2015 period, leading to lower palm oil inventory,” CIMB’s Ng wrote in the report dated January 2 “This will be positive for near-term crude palm oil prices.” The flooding affected about 23,730 hectares of estates run by Felda Global Ventures Bhd, or 6.3 per cent of the company’s total planted oil palm estates, and the group estimated losses of about RM21 million, Ng wrote. The company’s shares slumped as much as 5.5 per cent in Kuala Lumpur today. “Planters that are impacted by the flood will likely see weaker earnings in the fourth quarter of 2014 as the slight rise in crude palm oil price will not be sufficient to offset the drop in output,” Ng wrote. For Felda, the RM21 million loss is equivalent to 6 per cent of CIMB’s full-year net income forecast for the company, according to the report. Stockpiles outlook Stockpiles stood at 2.28 million tonnes at the end of November after rising for a fifth month, according to data from the Malaysian Palm Oil Board. The reserves may have contracted to about 2 million tonnes in December, according to an estimate MPOB Director-General Choo Yuen May on December 31. “The flood news has been discounted by the market,” Faiyaz Hudani, associate vice president at Kotak Commodity Services, said by phone from Mumbai, India today. “There may be some decline in production because of the disruption, but there are good carryover stocks in Indonesia and Malaysia.” Isolated showers and storms are forecast for Pahang, Kelantan, Terengganu, Johor and Perak over the next seven days, according to data from the Malaysian Meteorological Department posted on its website on January 1. The number of evacuees declined this week as floodwaters receded. The figure in Pahang, Perak, Terengganu, Kelantan and Johor was at 84,575, down from 91,244 on January 1, according to state news agency Bernama said, citing data from government agencies.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #136 on: January 03, 2015, 11:41:22 PM »
VEGOILS-Palm Oil Dips as Traders Take Profits After 8-Day Climb

* Prices down 0.1 pct by end of day, reversing earlier gains
* Monsoon floods seen hitting palm oil supply in Q1, 2015
* Palm may rise to 2,318-2,338 range -technicals (Recasts, updates prices)

31/12/2014 (Reuters) - Malaysian palm oil slipped on Tuesday as traders took profits after an eight-day rally, but prices remained supported by monsoon floods that have inundated plantations, threatening to reduce output in the world's second-largest producer.

Severe monsoon flooding in Malaysia that has forced nearly a quarter of a million people to evacuate, is likely to cause a bigger-than-expected disruption to crude palm oil production in December with the impact likely to last well into the first quarter of 2015.

By Tuesday's close the benchmark March contract had slipped 0.09 percent to 2,283 ringgit ($653) per tonne after hitting 2,305 ringgit earlier in the day.

Traded volume stood at 39,969 lots of 25 tonnes, above the daily average of around 35,000 lots traded.

"It was typical profit taking," a palm oil trader with a foreign commodities brokerage in Kuala Lumpur told Reuters, referring to the dip after the rally. He added that prices were still holding relatively firm because of the floods.

"The market is firm due to floods disrupting supplies," said another trader. "We are hearing supply is tight in the spot physical market."

Palm oil may rise further into a range of 2,318-2,338 ringgit per tonne, as it had cleared a resistance at 2,287 ringgit, Reuters market analyst Wang Tao said.

Thunderstorms prevent plantation workers from harvesting fresh fruit bunches from oil palm trees, leaving them to over ripen and in some cases rot.

Fruits that do get harvested, however, may not make it to mills in time to be crushed as roads are inundated with water, or may have to be turned away as mills are shut due to flooding.

The Malaysian Palm Oil Association, a group of growers, forecast that crude palm oil production in Malaysia fell 21 percent between Dec. 1 and 20 compared with the same period a month ago.

A group of millers in southern peninsular Malaysia estimated that crude palm oil production between Dec. 1 and 25 in the states of Johor, Pahang and Melaka plunged 37 percent from the same period in November, according to traders.

Dalian soybean oil gained 0.5 percent.

($1 = 3.5 ringgit).

Offline vincent88

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Re: CPO Latest Updated News
« Reply #137 on: January 05, 2015, 10:47:32 PM »
Crude Palm Oil Indonesia Update: Limited Production Growth in 2015

Indonesia’s production of crude palm oil (CPO) is estimated to reach 31 million tons this year, up from an expected 29.5 million tons in 2014, according to the Indonesian Palm Oil Board (DMSI). Similar to last year, CPO production growth is limited due to unconducive weather conditions in the world’s largest producer and exporter of palm oil. Moreover, old trees have become less productive, while the younger generation of planted trees have not yet reached an optimal production age.

Amid the 2000s commodities boom, Indonesia’s palm oil production growth rate averaged 10 percent per year. In recent years, however, growth has declined significantly amid weak global economic conditions (resulting in weak CPO demand and declining CPO prices), limited palm oil plantation expansion due to the government’s primary forest moratorium (2011-2015) meaning a temporary stop to the granting of new permits to clear rain forests and peat lands, and weather conditions.

Floods in important palm oil growing regions in Malaysia (Terengganu, Pahang, Kelantan and Perak which together accounted for 30 percent of Malaysia’s total CPO output in 2013) have disrupted harvests, milling and transportation, implying that output in December and January will be curtailed. Malaysian authorities stated that a total of 7,500 smallholders - covering 24,000 hectares and 230 oil palm estates spanning 160,000 hectares - were affected. Unconducive weather conditions in Malaysia are expected to continue up to mid-January. Meanwhile, CPO stockpiles in Malaysia may decline from 2.7 million tons to 2 million tons in December 2014 due to limited production. Stockpiles may decline further as the Malaysian government implemented the Biodiesel B7 program (implying the blending palm biodiesel and petroleum diesel).

One advantage of limited CPO output in Indonesia and Malaysia is that it should support global CPO prices. The table below shows that the monthly palm oil price mostly fell in 2014. From September 2014, the price moved sideways after Malaysia and Indonesia - the world’s two largest CPO producers - introduced zero export tariffs for palm oil in an attempt to boost global demand and raise CPO prices. Although demand from India and China (the two largest CPO importers) is expected to remain sluggish in 2015, the global CPO price is estimated to grow slightly in the months ahead primarily due to limited CPO production in Malaysia and Indonesia.

Indonesian Palm Oil Export in 2014:



Month       Volume
  (million tons)
January          1.57
February          1.58
March          1.79
April          1.38
May          1.70
June          1.79
July          1.84
August          1.72
September          1.69
October          2.47
Total         17.53

Source: Indonesian Palm Oil Association (Gapki)

Indonesian Palm Oil Production and Export:


    2008   2009   2010   2011   2012   2013   2014¹   2015¹
Production
(million metric tons)   19.2   19.4   21.8   23.5   26.5    27.0    29.5    31.0
Export
(million metric tons)   15.1   17.1   17.1   17.6   18.2    21.2    20.0    21.6
Export
(in USD billion)   15.6   10.0   16.4   20.2   21.6    19.0    18.4   

¹ indicates forecast
Sources: Food and Agriculture Organization of the United Nations, Indonesian Palm Oil Producers Association (Gapki) and Indonesian Ministry of Agriculture


Key Findings:



• CPO production growth in Indonesia in 2015 expected to be limited

• Global CPO price expected to raise slightly in 2015 due to limited production growth in Indonesia and Malaysia

• Malaysia and Indonesia expected to maintain duty-free palm oil exports in first quarter of 2015

Offline vincent88

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Re: CPO Latest Updated News
« Reply #138 on: January 07, 2015, 10:40:44 PM »
PREVIEW-Malaysia's Dec palm stocks seen at 5-month low after floods


* Dec palm stocks forecast at 2.02 mln tonnes, lowest since July

* Output seen down 22.5 pct at 1.36 mln tonnes

* Exports expected to drop 1.5 pct to 1.49 mln tonnes

* Malaysian Palm Oil Board data due Jan 12 after 0430 GMT

By Anuradha Raghu

KUALA LUMPUR, Jan 6 (Reuters) - Malaysian palm oil inventories probably fell to a five-month low in December, a Reuters survey found on Tuesday, after monsoon floods disrupted harvesting and transportation in parts of the world's second-biggest grower.

The drop in stockpiles may give a boost to palm prices , which last year clocked their first decline since 2012, under pressure from a record supply of rival edible oils and a plunge in crude oil prices.

A survey of six planters, traders and analysts forecast that Malaysian palm stocks would fall 11.4 percent from November to 2.02 million tonnes, halting a rise seen from July.

Crude palm oil output is seen tumbling 22.5 percent from November to 1.36 million tonnes in December, after flooding in parts of the country disrupted the harvesting and crushing of palm fruit and forced some mills and refineries to shut.

The flooding, which local authorities say is the worst in decades, has killed dozens and displaced nearly a quarter of a million people.

The worst-hit states are Kelantan, Terengganu, Pahang and Perak, all in Peninsular Malaysia and which together account for about 30 percent of the country's crude palm oil supply.

Exports were seen down 1.5 percent from November at 1.49 million tonnes, the survey showed, as festive activities and year-end holidays slowed trade.

The median figures from the survey would imply domestic consumption in December of 195,368 tonnes.


FLOODS TO HIT Q1 SUPPLIES

Planters and traders have said the floods may depress output by more than some expect, which could support prices.

While flood water has mostly receded and evacuees are slowly returning to their homes, it may take months for badly hit estates to fully recover.

"For those affected areas, it will take some time for plantations to resume operations. Yes, waters are receding in many areas but they cannot start work now," said an official with a Malaysian plantations firm.

"And you don't have the people to harvest. They are all in survival mode now, trying to build their houses and fulfil basic needs," the official added.

Malaysia's meteorological department warned on Tuesday of more thunderstorms over parts of the country, including the major palm-growing areas of Pahang, Johor and Sabah, which are expected to drag on until the end of the week.

Hiro Chai with CIMB Futures said that a prolonged spell of adverse weather could cause a major drop in crude palm oil output in January.

Breakdown of December's estimates (in tonnes):

Range Median Production 1,312,925 - 1,460,000 1,357,345 Exports 1,420,000 - 1,500,000 1,490,846 Imports 30,000 - 90,000 70,000 Closing stocks 1,922,125 - 2,060,000 2,019,500 (Editing by Alan Raybould)
 
 

Offline vincent88

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Re: CPO Latest Updated News
« Reply #139 on: January 12, 2015, 10:34:29 PM »
MPOB Says Malaysia December Palm Oil Output 1.36 Mln Tons(-22% mom)

-----------------------------------------------------------------------------+

BN 01/12 04:30 *MPOB SAYS MALAYSIA DEC. PALM OIL EXPORTS 1.52M TONS
BN 01/12 04:30 *MPOB SAYS MALAYSIA DEC. PALM OIL STOCKS 2.01M TONS
BN 01/12 04:29 *MPOB SAYS MALAYSIA DEC. PALM OIL OUTPUT 1.36M TONS

+------------------------------------------------------------------------------+

MPOB Says Malaysia December Palm Oil Output 1.36 Mln Tons
2015-01-12 04:33:12.55 GMT


By Niluksi Koswanage
    (Bloomberg) --  Palm oil output in Malaysia, world’s
second-largest producer, fell 22% to 1.36m metric tons in Dec.
from month earlier, Malaysian Palm Oil Board says in e-mailed
statement today.
 * Stockpiles declined 12% to 2.01m tons, while exports climbed
   0.4% to 1.52m tons
 * NOTE: Est. according to Bloomberg survey showed production
   at 1.46m tons, inventories at 2.05m tons and shipments at
   1.48m tons

Offline vincent88

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Re: CPO Latest Updated News
« Reply #140 on: January 12, 2015, 10:35:43 PM »
Malaysia’s Jan. 1-10 Palm Oil Exports 355,846 (-12.7% mom) Tons: Intertek

Malaysia’s Jan. 1-10 Palm Oil Exports 355,846 Tons: Intertek
2015-01-12 02:28:19.872 GMT


By Niluksi Koswanage
    (Bloomberg) -- Malaysian palm oil exports in first 10 days
of Jan dropped 12.7% from 407,425 tons from Dec. 1-10, according
to intertek

Offline vincent88

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Re: CPO Latest Updated News
« Reply #141 on: January 13, 2015, 11:04:11 PM »
Trees Under Water in Malaysia Fueling Rally in Palm Oil

Yusof Mohd Isa’s oil-palm plantation on the banks of Malaysia’s Terpai river was submerged under 12 feet (3.7 meters) of water last month.

The 60-year-old farmer, who harvests fruit every two weeks, reaped less than half a metric ton once the waters receded, a quarter of the normal yield. Flooding in Malaysia, which produces a third of the world’s crop, is exacerbating what is always a seasonal low in year-round production.

The floods were the worst in four decades and Malaysia’s output in December plunged the most in eight years, Palm Oil Board data show. In contrast to the slump in crude oil, prices for palm rallied about 23 percent since September, and Macquarie Group Ltd. says the rally has further to go. That’s boosting the cost of the vegetable oil used by Unilever, Hershey Co. and biodiesel producers throughout Asia.

“I don’t think we were going into the monsoon expecting such a devastating loss,” said Ivy Ng, an analyst at CIMB Investment Bank Bhd. in Kuala Lumpur who has studied the market since 1996. “If there are further losses to production, then the situation will get tighter and prices could move higher.”

The monsoon that hit the east coast of Peninsular Malaysia spawned the worst floods since 1972, Maybank Investment Bank Bhd. said. Hundreds of thousands of people were displaced, as the waters damaged homes, power lines, roads and bridges. With access to plantations blocked, some water-logged fruit rotted and were unfit for processing into oil.

Top Producers

Malaysia and top producer Indonesia together supply 86 percent of the world’s palm oil, U.S. Department of Agriculture data show. Output usually declines during the rainy season on the Malay peninsula, with harvests peaking from July to October. In January and February 2014, the crop was hurt by the worst dry spell for that time of year since 1997.

Flood damage reduced Malaysian output to 1.36 million tons in December, the lowest for that month since 2010 and a 22 percent slump from November, the biggest for any month since December 2006, board data showed yesterday. The decline reduced inventories for the first time in six months, they said.

Palm-oil futures on Jan. 9 reached 2,383 ringgit ($663) a ton, the highest since July, on the Bursa Malaysia Derivatives. Prices that touched a 2014 low of 1,914 ringgit on Sept. 2 have climbed 3.8 percent this month after a 4.3 percent gain in December. The oil may average as much as 2,500 ringgit in 2015, Kuala Lumpur-based RHB Investment Bank Bhd. estimates.

Cheaper Crude

The rally won’t last, Wayne Gordon, a Singapore-based commodities analyst at UBS Group AG, said in a Jan. 9 interview. The floods are already reflected in the price, which may drop to 2,100 ringgit to 2,300 ringgit this week, he said.

The slump in crude-oil prices may erode the appeal of palm oil as a source of fuel. About 16 percent of the world crop is used to make biodiesel. Rising crude output and slowing demand sent prices down 51 percent in the past year in New York, reaching $44.20 a barrel today, the lowest price since 2009.

“When you’ve got an oil-price environment that I see, you can’t be bullish on any commodities,” said London-based Doug King, the chief investment officer at the Merchant Commodity Fund, which manages $260 million. Crude may drop below $40 as U.S. output compounds the surplus, he said.

Kenanga Investment Bank Bhd. in Kuala Lumpur cut its 2015 forecast of average palm-oil prices by 12 percent to 2,200 ringgit on Dec. 30, citing the drop in crude.

Long-Term Impact

Macquarie Group said in a Jan. 7 report it expects the palm-oil rally to last because of the long-term impact of heavy rains on harvesting, roads and bridges. The effect of damage to facilities on transport and harvesting could help push prices above 2,400 ringgit, Chong Hoe Leong, an analyst at Public Investment Bank Bhd. in Kuala Lumpur, wrote in report today.

At the same time, prices are rising for competing vegetable oils. Soybean oil in Chicago has climbed 5.1 percent from a five-year low on Dec. 2, and canola in Winnipeg is up 16 percent from a four-year low on Sept. 22.

Wet weather is expected to continue over southern parts of Peninsular Malaysia including Johor through Jan. 15, while rain is predicted in western and central Sarawak on Borneo island until Jan. 13, Ambun Dindang, meteorological officer at the weather department, said by telephone Jan. 9.

“The monsoon season is not over, and there’s a risk that bad weather could come back,” CIMB’s Ng said.

For palm grower Yusof, who has been farming for four decades, the floods have already left a lasting impact, compounding losses from last year’s drought.

“This has never happened before,” said Yusof, who estimates he will earn half his monthly income of 2,000 ringgit in January. “My house was surrounded by water. It was scary.”

Offline vincent88

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Re: CPO Latest Updated News
« Reply #142 on: January 15, 2015, 11:29:24 PM »
Malaysia's Jan. 1-15 Palm Oil Exports 535,651 Tons(-13% mom): Inter

Offline vincent88

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Re: CPO Latest Updated News
« Reply #143 on: January 20, 2015, 10:28:28 PM »
MALAYSIA'S JAN. 1-20 PALM OIL EXPORTS 709,370 TONS(-21.8% mom): SGS

(Bloomberg) -- Malaysian palm oil shipments for Jan. 1-20
dropped 21.8% from 906,594 tons in Dec. 1-20, Societe Generale
de Surveillance says in e-mailed report today.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #144 on: January 21, 2015, 10:20:56 PM »
Palm oil edges up but struggles with grim outlook

Malaysian palm futures slipped to their lowest in nearly two weeks on Tuesday and struggled to stay above RM2,300 as lacklustre export demand and a grim outlook on global commodity markets piled pressure on the tropical oil.

Industry experts say palm prices face a volatile year in 2015 and will be driven by global demand factors, including uncertain market movements in crude and rival edible oils. The Malaysian Palm Oil Board predicted that in its worst scenario, prices could drop to six-year lows of RM1,820 a tonne.

"Going forward, we expect limited near-term catalysts as we gather that a possible weak El Nino and lacklustre biodiesel demand would limit immediate CPO price upside," Kenanga Investment Bank said in a note.


"...we believe that CPO prices are likely to soften in H2 2015 due to recovery in production as well as the effects of deteriorating crude oil prices and strengthening US dollar."

The benchmark April contract had edged up 0.2% to RM2,313 (US$643) per tonne by today's midday break, after falling to RM2,297 in early trade, their lowest since January 7.

Traded volume stood at 16,132 lots of 25 tonnes, above the usual 12,500 lots.   

The ringgit weakened to as much as 3.6130 per US dollar on Tuesday, after Prime Minister Datuk Seri Najib Razak lowered 2015 economic growth forecasts and increased the government's fiscal deficit target, as the rout in crude prices severely cut into Malaysia's earnings from oil and gas sales.

Analysts say while unfavourable weather in top growers Indonesia and Malaysia could tighten palm oil supply temporarily, the damage to output will not be as bad as initially feared with any El Nino weather phenomenon expected to be weak.

The Australian Bureau of Meteorology on Tuesday said that weather models show a low chance of an El Nino after indicators of the climate event eased in recent weeks.

In Malaysia, worries over monsoon flooding have begun to ease, despite occasional warnings by the country's weather office for rains over parts of palm-growing Sarawak.           

"The flood issues are fading and have been mostly factored in," said a trader with a foreign commodities brokerage in Kuala Lumpur.

Exports of Malaysian palm oil have been sluggish this month.

Cargo surveyor Intertek Testing Services reported that palm exports fell 22.9% between January 1-20.

Oil markets dipped on Tuesday as China's economic growth for 2014 undershot a government target and hit its weakest annual expansion in 24 years, adding to worries in energy markets already suffering from slowing demand and oversupply.

In vegetable oil markets, the US soyoil contract for March fell 1.2% in early Asian trade, while the most active May soybean oil contract on the Dalian Commodity Exchange lost 0.3%. – Reuters, January 20, 2015.

Offline vincent88

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Re: CPO Latest Updated News
« Reply #145 on: January 22, 2015, 10:46:41 PM »
Malaysian palm oil price falls to over 2-wk low on technical selling

KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in over two weeks on Wednesday, after worries over monsoon floods Borneo's key palm-growing areas triggered a round of technical selling in the tropical oil.
     The ringgit's decline to its weakest since April 2009 was not enough to limit losses in time, traders said.
     "Although the ringgit is weak, the market could not keep up. After prices broke 2,300 ringgit, heavy liquidation and the stop-loss
 order were triggered," said one trader with a foreign commodities firm in Kuala Lumpur.
     The benchmark April contract was down 2.0 percent to 2,273 ringgit ($629) per tonne by Wednesday's close, with prices
 touching 2,270 ringgit, their lowest since Jan. 5.
     Traded volume was at 66,335 lots of 25 tonnes, nearly double the usual average of 35,000 lots.   
     The Malaysian ringgit hit a near six-year low of 3.6250 per dollar as Fitch Ratings warned of a downgrade to the country's
 rating, following government moves to cut its 2015 growth forecast, trim spending and widen its fiscal deficit target.   
     The slump in the ringgit also stoked worries over a gloomy global economic outlook that could hurt commodity prices, including palm
 oil, the world's most traded vegetable oil.
     "All this doesn't bode well ... the ringgit is down, the share market is down," said a second Malaysia-based trader. "I wouldn't be
 surprised if funds are being withdrawn from markets."
     Technicals showed palm oil still targeting a range of 2,214-2,248 ringgit per tonne, as indicated by its wave pattern and a
 Fibonacci ratio analysis, according to Reuters market analyst Wang Tao.
       
     Analysts say flooding in Sarawak, Malaysia's second-largest palm producing state, may not be as damaging to output as initially
 feared, when thunderstorms and rain triggered flash floods across some plantations.   
     "Many areas in Sarawak remain flooded following heavy continuous rainfall over the last three days," said Affin Hwang Capital
 Research in a note on Wednesday.
     "However, as yet, the operations of the timber and plantation companies have not been seriously affected by the floods."
     In other markets, oil edged above $48 a barrel on Wednesday, consolidating after a drop in the previous session, although traders
 and analysts said oversupply and the prospect of inventory rises made further weakness likely.   
     In vegetable oil markets, the U.S. soyoil contract for March overturned earlier gains to fall 0.4 percent in late Asian
 trade, while the most active May soybean oil contract on the Dalian Commodity Exchange rose 0.8 percent.

  Palm, soy and crude oil prices at 1026 GMT
                                                                                                                                       
   Contract        Month    Last   Change     Low    High  Volume
   MY PALM OIL      FEB5    2290   -47.00    2290    2350     185
   MY PALM OIL      MAR5    2278   -55.00    2278    2347    7757
   MY PALM OIL      APR5    2273   -47.00    2270    2338   32011
   CHINA PALM OLEIN MAY5    4894    +8.00    4870    4928  382368
   CHINA SOYOIL     MAY5    5630   +44.00    5582    5654  516624
   CBOT SOY OIL     MAR5   32.71    -7.10   32.65   33.15    9217
   INDIA PALM OIL   JAN5  444.40    -7.10  443.50  451.50     358
   INDIA SOYOIL     FEB5  636.75    -5.15  636.20  644.80   27725
   NYMEX CRUDE      MAR5   47.03    +0.56   46.61   47.13   23486

Online Ļaughing Ģor

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Re: CPO Latest Updated News
« Reply #146 on: January 23, 2015, 02:42:48 AM »
Mr Vincent, thank you so much, we love you for the updates!
Can someone to give me a Loan and then leave me Alone?

Offline vincent88

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Re: CPO Latest Updated News
« Reply #147 on: January 23, 2015, 11:04:33 PM »
Thanks for Ļaughing Ģor 's support!  :)

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1,000,000 forumers wants to thank vincent88 !
« Reply #148 on: January 23, 2015, 11:11:37 PM »
Thanks for Ļaughing Ģor 's support!  :)

Should be Investlah thank you for your support.
Consistently and non-stop update for us.
Investlah is very fortunate to have you with us.  :clap:
Can someone to give me a Loan and then leave me Alone?

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Re: CPO Latest Updated News
« Reply #149 on: January 23, 2015, 11:12:22 PM »
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