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CPO futures end higher on worries over weaker palm oil production
CPO prices set to trade between RM3,800 and RM4,200 per tonne in 2H2024, says MPOC
Palm oil set to rise in 2H as La Nina poses supply risk
CPO prices stay above RM4,000 for second straight day
December CPO Stocks Down 6.27 Pct
KUALA LUMPUR, Jan 12 (Bernama) -- Total palm oil stocks in the countrydropped 6.27 percent to 1.213 million tonnes in December last year from1.294 million tonnes in November, the Malaysian Palm Oil Board (MPOB),said.
Golden Crop To Contribute To Better Foreign Exchan
KUALA LUMPUR, Jan 17 (Bernama) -- Palm oil, the "golden crop" of Malaysia,will contribute to a better foreign exchange for the country in 2002 asthe commodity is currently enjoying better price compared with prices lastyear.
MPOPC Looking To Set Up 2nd Office In China
KUALA LUMPUR, Jan 15 (Bernama) -- The Malaysian Palm Oil Promotion Council(MPOPC) is looking at the possibility of opening another office in Chinawith the latter's entry into the World Trade Organisation (WTO). "Ifthings work out, we would certainly want to see another office, perhaps inShanghai. This is something we are working on," said its chief executiveofficer, Datuk Haron Siraj.
Optimism Over Growth In Box Traffic
BINTULU, Jan 16 (Bernama) -- Malaysia, trying to make it big in the worldof container shipping, last year handled a total of 7.3 million TEUs(20-foot-equivalent units) through its various seaports, according tolatest official figures.
RE Power Producers Told To Produce More
PULAU PINANG, Jan 16 (Bernama) -- Producers of power from renewable energysources such as solar and biomass have been urged to produce more poweramounting to 10 megawatt to help the government reach its target of powergeneration from new energy sources at between 500 MW and 600 MW or fivepercent more in the next four years.
`Rubber, Oil Palm Planting Comments Meant For Sri
KUALA LUMPUR, Jan 11 (Bernama) -- Sri Lanka Rubber Research Insititutedirector Dr L.M.K Tillekeratne says his comments published early this yearthat replanting rubber estates with oil palm without serious scientificstudy could damage the environment was only applicable to the Sri Lankasituation.
Belawan Port blocked, ships diverted to Malaysia
15 January, 2002 (Business Times) - BIG ships are still unable to collectcrude palm oil from Belawan port in Indonesia, forcing some vessels todivert to Malaysia as efforts to remove a sinking dredger move at a snail’s pace, traders said yesterday.
Ideal weather conditions for Brazil soybeans -USDA
WASHINGTON, Jan 14 (Reuters) - U.S. Agriculture Department said on Mondayfavorable weather in key crop-growing regions has positioned Argentina toproduce a huge soybean harvest."(Argentina's) weather pattern to date has been nearly ideal, supportingrapid growth and development of the crop," USDA's Foreign AgriculturalService said.Last week, USDA projected 2001/02 soybean crop at a record 42.5 milliontonnes, up 1 million tonnes from December's estimate. USDA said somesoybean-growing regions received below average rainfall from Octoberthrough December, "but moisture accumulations have kept pace with orexceeded crop requirements to date."Areas of concerns are limited to western Santa Catarina and Rio Grande doSul. USDA said rainfall was needed in these areas to prevent crop stress.On Monday, worries about dry Brazilian soy crop weather boosted soybeanfutures at the Chicago Board of Trade. Soybean futures for March deliveryclosed up 3-3/4 cents at $4.46-3/4 per bushel.Independent Brazilian forecaster Somar forecast lingering dry weatheracross Brazil's southern soybean growing region. However, rain could reachRio Grande after Jan. 22, Somar said. In Parana, another southern state,rain was expected at the end of the week, while rains were seen falling inthe center-west, Somar said.
Indonesia says palm oil base prices unchanged
JAKARTA, Jan 15 (Reuters) - Indonesia's Trade and Industry Ministry saidthe base price for crude palm oil (CPO) and its by-products would remainunchanged for another month. "There's no change. It is extended becausethere's no significant change at the international market compared tolast month," an official at the ministry told Reuters. The current baseprice, used to calculate export taxes, will remain valid until February12.The country currently imposes a three percent tax on CPO and palm kerneland a one percent tax on refined, bleached and deodorised (RBD) palm oil,RBD palm olein and crude olein. Indonesia levies the tax to control theflow of palm oil exports, which usually rise sharply when the rupiahweakens and international prices increase.The rupiah was quoted at 10,390/10,400 against the dollar by 0400 GMT.The following table shows the base prices for palm oil and itsby-products: