PALM NEWS MALAYSIAN PALM OIL BOARD Friday, 20 Sep 2024

Total Views: 442
MARKET DEVELOPMENT
Palm oil price uptrend may moderate
calendar02-08-2001 | linkNULL | Share This Post:

Kuala Lumpur, 02 August 2001(Business Times) - PALM oil prices, which sawgains of RM30 a tonne yesterday, may see the uptrend moderate in the nearterm as the current level of between RM1,200 and RM1,300 may start todeter fresh uptake by traditional buyers, dealers say.

"Players are closely monitoring developments in the US market. . . .especially the rival oils," a trader told Business Times in Kuala Lumpuryesterday.

The fundamentals however remain intact, with demand from big buyers likeIndia providing support for the prices at the RM1,200 level, he said.

India is expected to report a lower output of vegetable oils this year inlight of an extended drought in the subcontinent.

And with demand seen rising in the months through to Deepavali inNovember, palm oil is expected to enjoy brisk business.

Traders said recent developments in Indonesia also augur well for thesector, especially the republic's plan to reduce exports of the commodityto meet domestic demand.

Indonesia produces about 7 million tonnes of palm oil a year, of which 3million tonnes are exported.

Only Malaysia produces more of the commodity, at over 10 million tonnes.

At the sound of the bell yesterday, the spot crude palm oil (CPO) futurescontract on the Malaysia Derivatives Exchange (MDEX) shot up to RM1,275 atonne.

But profit-taking surfaced later in the day to trim the gain and spotAugust closed at RM1,262 a tonne for a net gain of RM30, as did Septemberfutures at RM1,265.

October meanwhile put on RM32 to RM1,268, and November RM31 to RM1,271.

Total volume was a heavy 3,463 lots compared to 2,685 lots on Tuesday,while open interest stood at 11,263 contracts, up from 10,905 contracts.

In the physical market, August South CPO was traded at RM1,275 a tonnecompared to Tuesday's RM1,245.

$SIG$Form:INetSendTo: .$StorageTo: .RecipientGroupsExpanded: palmnews_group$Mailer: Lotus Notes Release 5.0.1b (Intl) 30 September 1999$MessageID: INetFrom: rodzi@commserv.mpob.gov.myPostedDate: 03-08-2001 09:03:21 AMRecipients: ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,CN=Ab Halim Ismail/OU=BRANCH/O=MPOB@MPOB,CN=Ab. Malek Nanti/OU=BRANCH/O=MPOB@MPOB,CN=Ab. Rahman Haji Mohamed/OU=BRANCH/O=MPOB@MPOB,CN=Abd. Jalil Murad/OU=BRANCH/O=MPOB@MPOB,CN=Abdul Aziz Jaffar/OU=BRANCH/O=MPOB@MPOB,CN=Abdul Khalil Mohamad Nor/OU=BRANCH/O=MPOB@MPOB,CN=Abdul Rahim Abdullah Sani/OU=BRANCH/O=MPOB@MPOB,CN=Abdullah Hashim/OU=BRANCH/O=MPOB@MPOB,CN=Adrein Tubong/OU=BRANCH/O=MPOB@MPOB,CN=Ahmad Abduh Yaman/OU=BRANCH/O=MPOB@MPOB,CN=Ahmad Saghir Baharan/OU=BRANCH/O=MPOB@MPOB,CN=Ahmad Zuraimi Ab. Satar/OU=BRANCH/O=MPOB@MPOB,CN=Alias Johari/OU=BRANCH/O=MPOB@MPOB,CN=Aminuddin Abd Aziz/OU=BRANCH/O=MPOB@MPOB,CN=Ana Satasia Muda/OU=BRANCH/O=MPOB@MPOB,CN=Ang Sau Hong/OU=BRANCH/O=MPOB@MPOB,CN=Azahari Baharum/OU=BRANCH/O=MPOB@MPOB,CN=Balu Nambiappan/OU=BRANCH/O=MPOB@MPOB,CN=Chandramohan Dharmapalan/OU=BRANCH/O=MPOB@MPOB,CN=Chang Lin Chong/OU=BRANCH/O=MPOB@MPOB,CN=Dahlan Othman/OU=BRANCH/O=MPOB@MPOB,CN=Datuk Dr. Yusof Basiron/OU=DGO/O=MPOB@MPOB,CN=DayangNazrima Shahari/OU=BRANCH/O=MPOB@MPOB,CN=Dr. Mohd. Rafii Yusop/OU=BIO/O=MPOB@MPOB,CN=Eaishah Mohd Darus/OU=BRANCH/O=MPOB@MPOB,CN=Ezana Hassan/OU=BRANCH/O=MPOB@MPOB,CN=Fauzi Arifin/OU=BRANCH/O=MPOB@MPOB,CN=Ghazali bin Mohd.Salleh/OU=BRANCH/O=MPOB@MPOB,CN=Ghazali Kasim/OU=BRANCH/O=MPOB@MPOB,CN=Hafizah Anuar/OU=IT/O=MPOB@MPOB,CN=Haindun Md Yussoff/OU=BRANCH/O=MPOB@MPOB,CN=Haji Adzmi Hassan/OU=BRANCH/O=MPOB@MPOB,CN=Haji Mohamad Azmi Kulop Ismail/OU=BRANCH/O=MPOB@MPOB,CN=Haji Samsudin Haji Abd. Jalil/OU=IT/O=MPOB@MPOB,CN=Haji Zainal Shafie/OU=BRANCH/O=MPOB@MPOB,CN=Haji Zulkefli Shawal/OU=BRANCH/O=MPOB@MPOB,CN=Hajjah Nor Hayati Muhammad/OU=BRANCH/O=MPOB@MPOB,CN=Hajjah Zahariah Abu Samah/OU=IT/O=MPOB@MPOB,CN=Hamidah Abdul Hamid/OU=BRANCH/O=MPOB@MPOB,CN=Hashim Man/OU=BRANCH/O=MPOB@MPOB,CN=Hj. Mohd. Nasir Amiruddin/OU=TETAS/O=MPOB@MPOB,CN=Iptisam Abdul Wahab/OU=BRANCH/O=MPOB@MPOB,CN=Iskandar Shah Mustaffa/OU=BRANCH/O=MPOB@MPOB,CN=Ismail Jantan/OU=BRANCH/O=MPOB@MPOB,CN=Jamil Nordin/OU=BRANCH/O=MPOB@MPOB,CN=Jariah Md. Jidin/OU=BRANCH/O=MPOB@MPOB,CN=Justine Hintanau/OU=BRANCH/O=MPOB@MPOB,CN=Kamar Nor Aini Kamarul Zaman/OU=BRANCH/O=MPOB@MPOB,CN=Kamaruddin Mohd Idris/OU=BRANCH/O=MPOB@MPOB,CN=Khairul Azwan Sapuan/OU=BRANCH/O=MPOB@MPOB,CN=Lai Kim Seng/OU=BRANCH/O=MPOB@MPOB,CN=Lailawati Meon/OU=BRANCH/O=MPOB@MPOB,CN=Loo Yuen Mey/OU=BRANCH/O=MPOB@MPOB,CN=Lye Kwang Meng/OU=BRANCH/O=MPOB@MPOB,CN=Mazlan Mustaffa/OU=BRANCH/O=MPOB@MPOB,CN=Mazrian Musa/OU=BRANCH/O=MPOB@MPOB,CN=Miskiah Abd Hamid/OU=BRANCH/O=MPOB@MPOB,CN=Mohamad Azman Hambali/OU=BRANCH/O=MPOB@MPOB,CN=Mohamad Sairi Md. Juhudi/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Arifudin Haji Husain/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Fadzil Ishak/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Fairuz Mohd Hanafiah/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Hassan Hussin/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Jasni Satar/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Noor Azam Ayob/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Nozri Ibrahim/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Rahim Awang/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Razali Ithnain/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Shokree Mohamad/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Sukri Abd Manap/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Yahaya Osman Palil/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Zaini Mohd Ariffin/OU=BRANCH/O=MPOB@MPOB,CN=Mohd Zulkifli Salleh/OU=BRANCH/O=MPOB@MPOB,CN=Mohd. Jusuh Haji Rukawi/OU=BRANCH/O=MPOB@MPOB,CN=Mohd.Roselan bin Lebar/OU=BRANCH/O=MPOB@MPOB,CN=Mohsin Saad/OU=BRANCH/O=MPOB@MPOB,CN=Muhamad Zarin Mohd Nor/OU=BRANCH/O=MPOB@MPOB,CN=Murphy Solomon/OU=BRANCH/O=MPOB@MPOB,CN=Muslim ImamAmat Samsudin/OU=BRANCH/O=MPOB@MPOB,CN=Nazlin Ismail/OU=BRANCH/O=MPOB@MPOB,CN=Nazri Mohamed/OU=BRANCH/O=MPOB@MPOB,CN=Ng Hoi Chan/OU=BRANCH/O=MPOB@MPOB,CN=Nik Abdullah Nik Idris/OU=BRANCH/O=MPOB@MPOB,CN=Noh Muhammad Salleh/OU=BRANCH/O=MPOB@MPOB,CN=Noor Azizul Ibrahim/OU=BRANCH/O=MPOB@MPOB,CN=Nor Rizah Ismadi/OU=IT/O=MPOB@MPOB,CN=Norashikin Hassim/OU=BRANCH/O=MPOB@MPOB,CN=Norfadilah Hashim/OU=BRANCH/O=MPOB@MPOB,CN=Norhanita Abu Bakar/OU=BRANCH/O=MPOB@MPOB,CN=Norihan Husain/OU=BRANCH/O=MPOB@MPOB,CN=Norlizah Hamzah/OU=BRANCH/O=MPOB@MPOB,CN=Normala Taib/OU=BRANCH/O=MPOB@MPOB,CN=Radzuan Naim/OU=BRANCH/O=MPOB@MPOB,CN=Raja Shahrom Raja Kamarudin/OU=BRANCH/O=MPOB@MPOB,CN=Ramli Haji Salleh/OU=BRANCH/O=MPOB@MPOB,CN=Rasly Bakar/OU=BRANCH/O=MPOB@MPOB,CN=Rosli Hamsan/OU=BRANCH/O=MPOB@MPOB,CN=Rosli Mat Hashim/OU=BRANCH/O=MPOB@MPOB,CN=Rosni Hussin/OU=BRANCH/O=MPOB@MPOB,CN=Rozita Baharuddin/OU=BRANCH/O=MPOB@MPOB,CN=Rushdan Muda/OU=BRANCH/O=MPOB@MPOB,CN=Sabtu Ahmad/OU=BRANCH/O=MPOB@MPOB,CN=Shafie Abdul/OU=BRANCH/O=MPOB@MPOB,CN=Sharifah Hassan/OU=BRANCH/O=MPOB@MPOB,CN=Siti Fatimatu Zahara Ismail/OU=BRANCH/O=MPOB@MPOB,CN=Siti Norsiah Ahmad/OU=ADMIN/O=MPOB@MPOB,CN=Subramaniam Danapal/OU=BRANCH/O=MPOB@MPOB,CN=Sulim Lumong/OU=BRANCH/O=MPOB@MPOB,CN=Tan Gin Cheng/OU=BRANCH/O=MPOB@MPOB,CN=Tan How Soon/OU=BRANCH/O=MPOB@MPOB,CN=Tazaruddin Osman/OU=BRANCH/O=MPOB@MPOB,CN=Tham See Min/OU=BRANCH/O=MPOB@MPOB,CN=Wan Na'aman Abdul Rahman/OU=BRANCH/O=MPOB@MPOB,CN=Yakup Ibrahim/OU=BRANCH/O=MPOB@MPOB,CN=Yuslinda Haji Yusof/OU=ADMIN/O=MPOB@MPOB,CN=Zainal Osman/OU=BRANCH/O=MPOB@MPOB,CN=Zaini Samsudin/OU=BRANCH/O=MPOB@MPOB,CN=Zainon Basran/OU=BRANCH/O=MPOB@MPOB,CN=Zainon Basran/OU=BRANCH/O=MPOB@MPOB,CN=Zalena Abu Hasan/OU=BRANCH/O=MPOB@MPOB,CN=Zulkarnaen Ahmad/OU=BRANCH/O=MPOB@MPOB,CN=Zulkifli Mohd Wahi/OU=BRANCH/O=MPOB@MPOBSign: 0

Disclaimer. All information disseminated are considered reliable. MPOB is not liable for any damage cause by the use of any information. 2022 © MPOB. All Rights Reserved. 2024 © MPOB. All Rights Reserved.