|
CPO Futures Set To Trade Higher Next Week On Rising Crude Oil Prices
Malaysia’s Palm Oil Stocks Down 3.94 Pct To 2.7 Million Tonnes In February 2026 – MPOB
Palm tracks gains in Dalian and Chicago rival oils, stronger crude
CPO FUTURES RALLY ABOVE RM4,500 PER TONNE, HIGHEST SINCE OCTOBER LAST YEAR
Imported Cooking Oils Ease Despite Weak ₹
08/11/2014 (Hindu Business Line) - Edible oils ruled weak on Friday on slack physical demand amid bearish futures. On the Bombay Commodity Exchange, major edible oils declined by ₹5-10 for 10 kg, while groundnut oil lost by ₹30 for 10 kg. Indigenous oils witnessed a sharp drop due to higher selling pressure, while imported palmolein and soya oil eased despite weak domestic currency as stockists stayed away. Rupee declined to ₹61.70 against the dollar making import costly. Stockists stayed away as they have bought enough in advance. Even weakness in domestic currency could not support the sentiment. During the day, hardly 500-600 tonnes of palmolein were traded in the range of ₹495-497. Improved arrivals of groundnuts and cottonseeds in Saurashtra and soyabean arrivals in Madhya Pradesh also weighed. Soyabean arrivals were around 6.50 lakh bags at the national level and of this, Madhya Pradesh received over 4.50 lakh sbags.
Coconut Oil Price Falls with Copra
08/11/2014 (Hindu Business Line) - Coconut oil prices fell by ₹50 per 15-kg on Friday. “Two days ago, copra prices rose to ₹10,600 a quintal and it dipped to ₹9,600-10,100. Over 10 tonnes of copra were sold in the last five days. Coconut oil prices decreased to ₹2,100-2,130 for 15-kg loose pack on Friday. More than 10 lorry loads (roughly 140 tonnes) of coconut oil were sold, a major portion was procured by traders in Kerala,†said RM Palanisamy, a coconut oil trader. He said traders are expecting prices to fall further. Demand for edible copra has increased and some traders have received fresh orders from Pakistan. It was sold at ₹11,100 a quintal on Friday. Further, the sale of coconut in Karnataka and Kerala has increased.
Ministry to Stop Granting Permits for Forest Use
08/11/2014 (Jakarta Post) - The government will impose a moratorium on the issuance of all forest-exploitation permits as part of its effort to slow down the country’s rapid deforestation rate.
Jaya Tiasa Sees Decline in Log Production on Bad Weather
08/11/2014 (Borneo Post) - Jaya Tiasa Holdings Bhd (Jaya Tiasa) experienced a 5.4 per cent year on year decline in log production in the third quarter 2014 (3Q14) on account of bad weather conditions slowing down harvesting process.
Ajimobi Inaugurates Biggest Oil Refinery In Ibadan
08/11/2014 (Nigerian Tribune) - Oyo State Governor Abiola Ajimobi Friday inaugurated the biggest automated edible oil refinery and margarine company in sub-Saharan Africa in Ibadan, with a pledge that his administration would continue to do all within its powers to ensure that the state continued to be the preferred destination of investors in Nigeria.
Palm Seen by Mistry Extending Bull Market as Reserves Shrink
07/11/2014 (Bloomberg) - Palm oil will probably climb more than 12 percent, extending a bull market, as inventories contract in Malaysia and Indian imports expand, according to Dorab Mistry, director of Godrej International Ltd.
Nigeria's Economy Can be Revived by Cocoa, Groundnut and Palm Oil Industries - Osun Speaker
07/11/2014 (Nigerian Bulletin) - Nigeria's economy should be diversified in order to survive the current drop in the price of crude oil at the international market, Mr Najeem Salaam, the Speaker of Osun House of Assembly, on Thursday told newsmen.
Veg Oil Import May Touch New Record at 12.3 Mt
07/11/2014 (Hindu Business Line) - India’s import of vegetable oils is likely to increase to new record at 12.3 million tonnes in the 2014—15 oil year starting this month, as slow start of domestic crushing would boost demand for overseas supplies, an industry official said today.
Despite Offers Below ₹500/10 KG, No Takers for Palmolein
07/11/2014 (Hindu Business Line) - The edible oils market was dull on Thursday due to scattered physical volume amid weak overseas futures market. NCDEX and Bombay commodity exchange was closed due to Guru Nanak Jayanti. Ruchi and Liberty kept prices unchanged, while Allana lowered prices by ₹2-5 for soya and palm oil.
