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Malaysia's palm oil stocks hit 8-month high in May as output jumps
FGV may see earnings fall over 50pct annually from expanded SST
CIMB: India's duty cut, low stocks seen boosting Malaysian palm oil exports
Palm Oil Market Set for Strong Growth to USD 106.5 Billion by 2032 Amid Rising Sustainability Focus
CPO price decline merely a correction, say traders
A lack of fresh fundamentals in the crude palm oil (CPO) market havepushed prices of palm oil down during the past week but traders insistthat the decline was merely a major correction.
Malaysia's palmoil breaks support level,tone weak
KUALA LUMPUR, Aug 29 (Reuters) - Malaysia's palm oil futures fell through1,060 ringgit support and extended their losses by midday on Wednesday dueto worries over rising stocks.The benchmark November futures contract was down 37 ringgit at 1,036ringgit ($272.63) a tonne after trading as high as 1,068 ringgit. Volumewas at 1,259 lots."People are worried that stocks will finally go up because of poorexports. There are also signs output will pick up in the coming months,"said a trader in Kuala Lumpur, adding that slow demand in the physicalsector added to the bearish tone.One technical analyst said a big correction was taking place in theMalaysian market."For the past five days the bull has been fighting for sustainability,"the analysts said, adding that the selling pressure was triggered when themarket failed to close above 1,095 ringgit."The market looks weak and given this sentiment, it is unlikely priceswill rebound to 1,095," he said.Export figures released by cargo surveyor Societe Generale de SurveillanceMalaysia on Monday showed palm oil shipments to India in the first 25 daysof August totalled 118,086 tonnes, down from 170,886 in July 1-25.India was Malaysia's main palm oil buyer in 2000, taking 2.03 milliontonnes. August/September crude palm oil for south and central regions wasoffered at 1,060 ringgit a tonne against bids at 1,050. There were notrades.Among refined products, September RBD palm oil was offered at $287.50 atonne and October/November/December at $290.00.Offers for September RBD olein were at $307.50 andOctober/November/December were at $310.00September RBD palm stearin was offered at $250.00 a tonne and Septemberpalm fatty acid distillate was offered at $200.00.
Ircon starts civil works on double-tracking projec
INDIA's Ircon International Ltd, one of the two foreign parties in theproposed Malaysia's railway double-tracking project, has initiatedpreliminary civil works on the project.
RM3b stimulus may see only RM920m usage by year-en
ONLY about RM920 million of the RM3 billion fiscal stimulus packageintroduced by the Government in March is expected to be disbursed byyear-end, with stringent bank rules, red tape and slower economic growthall seen as contributing to the fund's low utilisation rate.
Analysts still bullish on plantation sector's outl
ANALYSTS continue to be bullish on the outlook of the plantation sectordespite the lower-than-expected earnings registered by some of the biggestplantation companies in the country.
Good palm oil prices may hamper replanting plans
GOOD palm oil prices of late may hamper the Government's plan to replantthe country's oil palm plantations.
Rubber Industry To Go Online
KUALA LUMPUR, Aug 25 (Bernama) -- Palm oil went online recently withe-Pomex, and now it is the rubber industry's turn to catch up with theelectronic world with a Malaysian-based rubber portal, "NRExchange.com."The portal will pave the way for the commodity to go for a globalmarketplace.
Fast -track north, south electric railway projects
The Transport Ministry wants the northern and southern electrifieddouble-track railway projects to be expedited by as much as half theoriginal timeframe, so as to boost local economic activity.Minister Datuk Seri Dr Ling Liong Sik said project consultants have beenasked to see if the projects could be completed in three years instead ofsix.They are also to see if work on both the northern and southern lines canbegin simultaneously.The northern double-tracking project is from Ipoh to Padang Besar(338.8km). The southern line is from Seremban to Johor Baru (297km).A start date has not been determined as the proposal needed fine-tuning.Instead of waiting for the consultants to finalise their proposal, Dr Lingsaid contractors should join the planning now so work could begin soonest."Let everyone be a part of the preliminary work...so we can shorten thepreparatory phase. There is no need for the ministry to review theconsultant's report and then only give it to the contractors."Dr Ling was speaking at a Press conference at his ministry here.He said under review were certain parts of the track that neededre-alignment as existing lines were too curved. Sharp curves would preventthe electric trains from running at their high speeds of 160 to 180kilometers per hour, he said.Re-alignments would pose problems to about 10 per cent of areas affectedby the project."Some people and homes might be displaced but they are only in a fewplaces."He named Bukit Berapit in between Taiping and Kuala Kangsar, Bagan Seraiand Tanjung Rambutan on the northern line, and Tampin on the southernline.More than 50 overhead road bridges would also be built so motorizedtraffic would not be disrupted by the trains.The Indian Railway Construction Company will build infrastructure for thenorthern line. The southern line has been awarded to the China RailwayEngineering Corporation.Each project is estimated to cost RM6 billion, according to past reports.Payment would include a barter trade in palm oil.Japan's Mitsui Corporation will provide the systems, such astelecommunication and signaling."The sooner the project starts, the better for the economy, he said,adding that even oil palm smallholders would benefit when India and Chinastarted buying oil palm."Double-tracking can increase the number of train services a day by fivetimes, compared to a single track.DRB-Hicom and Mitsui are undertaking the central project which runs fromRawang to Ipoh, worth RM4.2 billion.
Intermed, MPOB Come Out With Palm Oil-Based Polyur
KUALA LUMPUR, Aug 24 (Bernama) - Polyurethanes (PU), which make good heatinsulators, are very popular in temperate countries because they help saveenergy.
