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MPOB Monthly Report Imminent: Malaysia's Palm Oil Stockpiles May Surge Past 2.6 Million Tonnes as Strong El Niño Fuels Distant-Month Supply Cut Expectations
Palm rises on bargain buying, high stocks cap gains
CPO prices seen between RM4,400-RM4,650 per tonne in August - MPOC
Malaysia raises August crude palm oil reference price, duty remains at 10%
GHope aims to increase palm oil extraction rate
Friday October 15, 2004 - GOLDEN Hope Plantations Bhd aims to improve itsoil extraction rate (OER) for palm oil to 25% from 30 tonnes of freshfruit bunches (FFB) produced per hectare per year in five years.
India Sep Edible Oil Imports 587,885 MT Vs 480,150
14/10/04 NEW DELHI (Dow Jones)--India's edible oil imports in Septembertotaled 575,885 metric tons compared with 480,150 tons in thecorresponding month last year, the Solvent Extractors' Association ofIndia said Thursday.
MALAYSIA'S KIM LOONG IN JOINT VENTURE TO BUILD LAB
KUALA LUMPAR, Oct 14 Asia Pulse - Kim Loong Resources Berhad (KLRB)announced Wednesday that it had entered into a joint venture with Dr GeePing Tou to cooperate on the construction of a Laboratory Plant.
MALAYSIAN PLANTATIONS SECTOR REMAINS 'UNDERWEIGHT'
KUALA LUMPUR, Oct 14 (Bernama) -- OSK Securities said palm oil plantationstocks remain "underweight" in its view as it believes the outlook for theprice of crude palm oil (CPO) remains bearish."The CPO price could stage a rebound during the upcoming lowproduction season... However, so long as (production) levels remain above1 mln mark, (the sector's) ability to sustain a price recovery remainsquestionable," OSK said in a research note.OSK said the CPO price was at 860 rgt per ton when the inventory levelwas above 1 mln ton mark in Oct 2001. This is 59 pct below prevailingmarket price, it said."This indicates much of the expectation of strong demand due toChina's imports could have been discounted. We are also of the opinionthat the El Nino factor is overhyped, given that a mild El Nino will nothave a negative impacton production," it said.OSK said it also maintaining its "neutral rating" on the plantationsstocks it covers as they trade at OSK's fair values for them or close tofair values.At 10.29 am, PPB Oil was down 0.02 rgt at 3.36, IOI Corp down 0.10 at9. 15, Golden Hope down 0.02 at 4.00, while Kuala Lumpur Kepong wasuntraded.(1 usd = 3.8 rgt)
CPO expected to stay above RM1,400 for next 6 mths
The Edge Daily - Oct 13 6:33 AM - Crude palm oil (CPO) prices are expectedto stay above RM1,400 per tonne for the next six months given the gooddemand for the commodity and low supply in the first quarter of next year,Golden Hope Plantation Bhd group chief executive Datuk Sabri Ahmad says.
Kutch emerges India's edible oil hub
BS Regional Bureau in Ahmedabad | October 13, 2004 11:54 IST - Edible oilcompanies across the country are setting up their units in Kutch to availof the tax holiday announced by the Central government. Centre hadannounced the tax holiday after the region was hit by a devastatingearthquake in January 2001.
Malaysia Cash Palm Oil Flat; Demand Slow
10/12/04 Oilmandi - Malaysian cash palm oil mkt little changed as demandremains slow; Nov RBD palm olein offered unchanged at $417.50/ton with notrades reported so far. Locally delivered Oct CPO offered up MYR5 atMYR1,480. Traders
MARKET TALK
13/10/04Palm Oil Discount Has Room To Widen(Dow Jones)--Narrow discount to soyoil suggests further downside roomfor palm oil prices; main product RBD palm olein at $50-$60 below soyoilcurrently. Unless discount widens back to around $100, may be difficultfor palm oil exports to match Sep levels; strong Sep demand largely due tohefty discount at that time, traders say.
New PPB Oil Palms MD a true blue plantation man
Thursday October 14, 2004 - ALTHOUGH appointed PPB Oil Palms Bhd managingdirector just two months ago, Khoo Eng Min is no stranger to PPB group andthe oil palm industry.
