|
AI boom is turning Malaysia’s palm oil estates into data centres
CPO prices to stay elevated on firm demand and tight supply
CPO price dip seen as temporary, stocks to rise in November: CIMB Securities
Malaysia lowers December crude palm oil reference price, maintains duty at 10%
Vegetable oil prices surge to new high
26/12/2007 (Energy Current) - Palm and soybean oil prices surged to new record highs over the Christmas holidays in Malaysia and Chicago as surging demand for the use of vegetable oils in food and fuel outstrips demand, according to media reports. Palm oil for March contract was trading at MYR 3,080 (US$923.40) on the Bursa Malaysia Derivatives Exchange before sliding to MYR 3,078 (US$922.80) by noon on Dec. 25, surpassing the previous high of MYR 3,068 (US$919.80) in November. The record surge in palm oil prices is backed by a growing demand of the use of the vegetable in products ranging from cosmetics and confectionaries to biodiesel along with supply crunch from recent floods in Malaysia.
Palm Oil Gains to Record on Demand for Food, Fuel
26/12/2006 (Bloomberg) - Palm oil prices in Malaysia, the global benchmark, rose to a record today as global demand for vegetable oils for food and alternative fuel outstrips supply.
Malaysian CPO futures at fresh record on speculative buying
25/12/2007 (Forbes), Kuala Lumpur - Malaysian crude palm oil (CPO) futures contracts traded on the Malaysian derivatives exchange were at a fresh record Wednesday, supported by high oil and soybean prices, and speculative buying on concerns recent floods may have hurt CPO production.
No relief in sight on vegoil price front
25/12/2007 (The Hindu Business Line), Mumbai - The new year is unlikely to bring any respite from high prices of vegetable oil. If anything, the upside risk to prices even from the current strong levels is high. Developments in the US, world’s largest producer of soyabean, will be keenly watched.
Palm oil up 1.3pc on tight supply
25/12/2007 (The News, Pakistan), Kuala Lumpur - Malaysian crude palm oil futures rose further on Monday, gaining 1.3 per cent as higher prices of rival soybean oil and lower supplies from plantations hit by floods boosted the market.
Cameroon: Palm Oil Price Rises As Scarcity Escalates
20/12/2007 (All Africa.com) - As Christmas approaches the prices of essential commodities have been steadily rising with palm oil hitting the high mark of FCFA 900 a litre, while a 20-littre jerry can is selling at FCFA 17.000, up from FCFA 12.000.
Malaysia Dec palm oil output hurt by floods
18/12/2007 (The Economic Times), Kuala Lumpur - Malaysia's palm oil output is likely to fall 18 percent this month from November, as floods and heavy rains have inundated plantations is key producing states, industry officials and producers said on Tuesday.
Malaysian government not concerned with rising palm oil prices - minister
16/12/2007 (Forbes) - The Malaysian government is not concerned with the current high price of crude palm oil (CPO) and expects prices to remain firm going forward, supported by strong demand from China and India, Second Finance Minister Nor Mohamed Yakcop said on Monday.
Pakistan second largest importer of palm olien
19/12/2007 (Daily Times, Pakistan), Karachi - In the first 15 days of December, Pakistan imported 68,700 metric tonnes of palm olien that ranked it as the second largest importer of the commodity after China, which imported 213,000 metric tonnes during same period, importers told Daily Times on Monday.
