VEGOILS-Palm oil climbs 4.5% on worries over Black Sea supplies
KUALA LUMPUR, Nov 1 (Reuters) - Malaysian palm oil futures rallied for a second straight day on Tuesday, on concerns over global supplies after Russia suspended a Black Sea export agreement.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 183 ringgit, or 4.51%, to 4,237 ringgit ($895.77) a tonne during early trade.
FUNDAMENTALS
Indonesia has extended until the end of this year its policy of waiving a palm oil export levy, unless the palm oil reference price breaks $800 per tonnes, the economic ministry said on Monday.
Grain was flowing out of Ukraine at a record pace on Monday under an initiative led by the United Nations aimed at easing global food shortages despite Russia warning it was risky to continue after it pulled out of the pact.
Dalian's most active soyoil contract DBYcv1 rose 1.8%, while its palm oil contract DCPcv1 jumped 4.4%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.6%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market. Sunflower oil shipments from the Black Sea region have been hampered by the Russia-Ukraine conflict and could be further disrupted by Russia's withdrawal from the Black Sea pact.
Palm oil may retest a support of 4,007 ringgit a tonne, a break below which could open the way towards 3,850-3,929-ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares rose and bond yields firmed in early trade on Tuesday despite mild losses from Wall Street overnight as investors turned their focus to the Federal Reserve's policy meeting this week for hints on what comes next.
By: via Malaysian Palm Oil Council Russia
понедельник, 31 октября 2022 г.
суббота, 29 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
Украинская сторона не остановила коридор, даже несмотря на российские атаки 23 июля (на следующий день после подписания инициативы), 23 сентября – на порт «Одесса», а также недавние атаки на энергетическую инфраструктуру, которые обесточили портовую инфраструктуру – министр иностранных дел Украины Дмитрий Кулеба.
By: via Malaysian Palm Oil Council Russia
By: via Malaysian Palm Oil Council Russia
четверг, 27 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil tracks rivals lower, set for weekly loss
JAKARTA, Oct 28 (Reuters) - Malaysian palm oil futures dropped on Friday, dragged lower by losses in rival edible oils, and were poised for a weekly drop amid concerns of sluggish demand.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives fell 1.25% to 4,095 ringgit ($867.95) per tonne in early trading.
The contract has lost 0.84% so far this week.
FUNDAMENTALS
Dalian's most active soyoil contract DBYv1 fell 1.70%, while its palm oil contract DCPv1 dropped 2.55%. Soyoil prices on the Chicago Board of Trade BOc2 flitted sideways.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may break a support of 4,114 ringgit per tonne and fall into 4,001-4,071 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Oil prices fell in early trade on Friday on a stronger dollar, but were on track for a weekly gain on concerns about supply tightening with Europe's pending cut-off of imports from Russia.
Asian equities edged lower on Friday as investors grappled with mixed earnings reports, while the Japanese yen held firm ahead of the Bank of Japan's policy review.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Oct 28 (Reuters) - Malaysian palm oil futures dropped on Friday, dragged lower by losses in rival edible oils, and were poised for a weekly drop amid concerns of sluggish demand.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives fell 1.25% to 4,095 ringgit ($867.95) per tonne in early trading.
The contract has lost 0.84% so far this week.
FUNDAMENTALS
Dalian's most active soyoil contract DBYv1 fell 1.70%, while its palm oil contract DCPv1 dropped 2.55%. Soyoil prices on the Chicago Board of Trade BOc2 flitted sideways.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may break a support of 4,114 ringgit per tonne and fall into 4,001-4,071 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Oil prices fell in early trade on Friday on a stronger dollar, but were on track for a weekly gain on concerns about supply tightening with Europe's pending cut-off of imports from Russia.
Asian equities edged lower on Friday as investors grappled with mixed earnings reports, while the Japanese yen held firm ahead of the Bank of Japan's policy review.
By: via Malaysian Palm Oil Council Russia
среда, 26 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
Addressing labour shortage in oil palm plantation sector
https://mpoc.org.my/addressing-labour-shortage-in-oil-palm-plantation-sector/
THE issue of labour shortage in oil palm plantations in the country has been getting the attention of the media lately. Measures are already in place to address the issue and strategies are being formulated to ensure the competitiveness and sustainability of the Malaysian palm oil industry. The oil palm plantation sector which relies heavily […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/addressing-labour-shortage-in-oil-palm-plantation-sector/
THE issue of labour shortage in oil palm plantations in the country has been getting the attention of the media lately. Measures are already in place to address the issue and strategies are being formulated to ensure the competitiveness and sustainability of the Malaysian palm oil industry. The oil palm plantation sector which relies heavily […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil climbs 2% amid higher crude, rival oils
JAKARTA, Oct 27 (Reuters) - Malaysian palm oil futures recovered on Thursday from minor losses in the previous session, gaining more than 2% on higher prices of crude oil and related edible oil.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange climbed 2.26% to 4,214 ringgit ($895.07) per tonne in early trading.
FUNDAMENTALS
Dalian's most active soyoil contract DBYc1 rose 0.47%, while its palm oil contract DCPc1 climbed 0.73%. Soyoil prices on the Chicago Board of Trade BOc2 were trading 0.55% higher.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar.
Exports of Malaysian palm oil products for Oct. 1-25 fell 3.5%, compared with shipments on Sept. 1-25, cargo surveyor Intertek Testing Services said this week, while Societe Generale de Surveillance reported exports eased 0.6%.
Palm oil may retest a support of 4,114 ringgit per tonne, a break below could open the way towards 4,001-4,071 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares rose on growing expectations that major central banks could start slowing the pace of interest rate hikes in coming months, while the dollar's retreat lifted commodities and pushed treasury yields lower.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Oct 27 (Reuters) - Malaysian palm oil futures recovered on Thursday from minor losses in the previous session, gaining more than 2% on higher prices of crude oil and related edible oil.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange climbed 2.26% to 4,214 ringgit ($895.07) per tonne in early trading.
FUNDAMENTALS
Dalian's most active soyoil contract DBYc1 rose 0.47%, while its palm oil contract DCPc1 climbed 0.73%. Soyoil prices on the Chicago Board of Trade BOc2 were trading 0.55% higher.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar.
Exports of Malaysian palm oil products for Oct. 1-25 fell 3.5%, compared with shipments on Sept. 1-25, cargo surveyor Intertek Testing Services said this week, while Societe Generale de Surveillance reported exports eased 0.6%.
Palm oil may retest a support of 4,114 ringgit per tonne, a break below could open the way towards 4,001-4,071 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares rose on growing expectations that major central banks could start slowing the pace of interest rate hikes in coming months, while the dollar's retreat lifted commodities and pushed treasury yields lower.
By: via Malaysian Palm Oil Council Russia
вторник, 25 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil tracks rivals higher to extend gains
JAKARTA, Oct 26 (Reuters) - Malaysian palm oil futures rose for a third session on Wednesday as the market tracked rival oils higher despite sluggish exports this month.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange rose 2.25% to 4,220 ringgit ($892.18) per tonne in early trade.
FUNDAMENTALS
Dalian's most active soyoil contract DBYcv1 rose 0.95%, while its palm oil contract DCPc1 gained 1.44%. Soyoil prices on the Chicago Board of Trade BOc2 were up 0.27%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Exports of Malaysian palm oil products for Oct. 1-25 fell 3.5%, compared with shipments on Sept. 1-25, cargo surveyor Intertek Testing Services said on Tuesday, while Societe Generale de Surveillance reported on Wednesday exports eased 0.6%.
Meanwhile, independent inspection company AmSpec Agri Malaysia said palm oil products exports in Oct. 1-25 rose 6.6%.
Palm oil may retest a support of 4,114 ringgit per tonne, with a good chance of breaking below this level and falling towards 4,001-4,071 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Chicago wheat slid for a third consecutive session on Wednesday, trading near a five-week low with expectations of higher Black Sea supplies and improved U.S. weather weighing on the market.
Oil prices fell in early trade on Wednesday as the dollar firmed and as industry data showing U.S. crude oil stockpiles rose more than expected reinforced fears of a global recession that would cut demand.
Wall Street continued its advance on Tuesday as weak data stoked hopes the Federal Reserve will slow its aggressive pace of interest rate hikes and European shares notched a second day of gains as better-than-expected earnings offset economic worries.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Oct 26 (Reuters) - Malaysian palm oil futures rose for a third session on Wednesday as the market tracked rival oils higher despite sluggish exports this month.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange rose 2.25% to 4,220 ringgit ($892.18) per tonne in early trade.
FUNDAMENTALS
Dalian's most active soyoil contract DBYcv1 rose 0.95%, while its palm oil contract DCPc1 gained 1.44%. Soyoil prices on the Chicago Board of Trade BOc2 were up 0.27%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Exports of Malaysian palm oil products for Oct. 1-25 fell 3.5%, compared with shipments on Sept. 1-25, cargo surveyor Intertek Testing Services said on Tuesday, while Societe Generale de Surveillance reported on Wednesday exports eased 0.6%.
Meanwhile, independent inspection company AmSpec Agri Malaysia said palm oil products exports in Oct. 1-25 rose 6.6%.
Palm oil may retest a support of 4,114 ringgit per tonne, with a good chance of breaking below this level and falling towards 4,001-4,071 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Chicago wheat slid for a third consecutive session on Wednesday, trading near a five-week low with expectations of higher Black Sea supplies and improved U.S. weather weighing on the market.
Oil prices fell in early trade on Wednesday as the dollar firmed and as industry data showing U.S. crude oil stockpiles rose more than expected reinforced fears of a global recession that would cut demand.
Wall Street continued its advance on Tuesday as weak data stoked hopes the Federal Reserve will slow its aggressive pace of interest rate hikes and European shares notched a second day of gains as better-than-expected earnings offset economic worries.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
MPOA upbeat on CPO outlook
https://mpoc.org.my/mpoa-upbeat-on-cpo-outlook/
PETALING JAYA: While acknowledging the road ahead may still be bumpy for the palm oil sector, Malaysian Palm Oil Association (MPOA) chief executive Joseph Tek Choon Yee is maintaining a bullish outlook, on the back of sustained global demand as well as plans to cooperate with the government for the benefit of the industry. Among […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/mpoa-upbeat-on-cpo-outlook/
PETALING JAYA: While acknowledging the road ahead may still be bumpy for the palm oil sector, Malaysian Palm Oil Association (MPOA) chief executive Joseph Tek Choon Yee is maintaining a bullish outlook, on the back of sustained global demand as well as plans to cooperate with the government for the benefit of the industry. Among […]
By: via Malaysian Palm Oil Council Russia
пятница, 21 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
К карантинным и особо опасным болезням животных относятся в частности:
- Сибирская язва
- Бешенство
- Ящур
- Чума крупного рогатого скота и мелких жвачных
- Африканская чума лошадей, свиней, классическая чума свиней
- Туберкулез
- Бруцеллез
- Листериоз
By: via Malaysian Palm Oil Council Russia
- Сибирская язва
- Бешенство
- Ящур
- Чума крупного рогатого скота и мелких жвачных
- Африканская чума лошадей, свиней, классическая чума свиней
- Туберкулез
- Бруцеллез
- Листериоз
By: via Malaysian Palm Oil Council Russia
среда, 19 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
RINGGIT OPENS LOWER AGAINST US DOLLAR
KUALA LUMPUR, Oct 20 (Bernama) -- The ringgit opened lower against the US dollar today as investors awaited further rate actions by the United States Federal Reserve (Fed), dealers said.
At 9 am, the local note eased to 4.7250/7265 from Wednesday’s close of 4.7180/7220.
The dealers said lack of market-moving catalysts, along with the stronger greenback due to higher US Treasury yields as well as falling crude oil prices, dragged down the local note’s performance in early trade.
At the time of writing, Brent crude oil fell 0.17 per cent to US$92.25 per barrel.
However, CGS-CIMB said in a note that the weak ringgit may support Malaysia’s exports, as both tend to have a positive correlation.
The brokerage said the performance of Malaysia’s electrical and electronics (E&E) sector had defied downward global trends as shipments continued to outperform global sales in September 2022.
According to the Department of Statistics, the country’s exports of E&E products to China grew 36.5 per cent year-on-year in September 2022, in contrast with the moderation in shipments of regional peers.
“We suspect that part of the strength could be due to the attractive costs given ringgit’s weaker performance,” it added.
Malaysia recorded a trade surplus of RM31.71 billion in September 2022, a new record high for the country, beating the previous high of RM31.5 billion in December last year.
Meanwhile, the ringgit was higher against a basket of major currencies.
It rose versus the British pound to 5.2948/2965 from 5.3233/3278 yesterday and increased against the Singapore dollar to 3.3146/3161 from 3.3176/3207 previously.
The local currency also improved against the euro to 4.6135/6150 from 4.6326/6365 on Wednesday and gained vis-a-vis the Japanese yen to 3.1515/1527 from 3.1611/1642 at the close yesterday.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 20 (Bernama) -- The ringgit opened lower against the US dollar today as investors awaited further rate actions by the United States Federal Reserve (Fed), dealers said.
At 9 am, the local note eased to 4.7250/7265 from Wednesday’s close of 4.7180/7220.
The dealers said lack of market-moving catalysts, along with the stronger greenback due to higher US Treasury yields as well as falling crude oil prices, dragged down the local note’s performance in early trade.
At the time of writing, Brent crude oil fell 0.17 per cent to US$92.25 per barrel.
However, CGS-CIMB said in a note that the weak ringgit may support Malaysia’s exports, as both tend to have a positive correlation.
The brokerage said the performance of Malaysia’s electrical and electronics (E&E) sector had defied downward global trends as shipments continued to outperform global sales in September 2022.
According to the Department of Statistics, the country’s exports of E&E products to China grew 36.5 per cent year-on-year in September 2022, in contrast with the moderation in shipments of regional peers.
“We suspect that part of the strength could be due to the attractive costs given ringgit’s weaker performance,” it added.
Malaysia recorded a trade surplus of RM31.71 billion in September 2022, a new record high for the country, beating the previous high of RM31.5 billion in December last year.
Meanwhile, the ringgit was higher against a basket of major currencies.
It rose versus the British pound to 5.2948/2965 from 5.3233/3278 yesterday and increased against the Singapore dollar to 3.3146/3161 from 3.3176/3207 previously.
The local currency also improved against the euro to 4.6135/6150 from 4.6326/6365 on Wednesday and gained vis-a-vis the Japanese yen to 3.1515/1527 from 3.1611/1642 at the close yesterday.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil climbs for fifth day to seven-week peak
KUALA LUMPUR, Oct 20 (Reuters) - Malaysian palm oil futures extended a rally on Thursday to a fifth straight session, touching their highest level in seven weeks lifted by a weakening ringgit and gains in rival edible oils.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 46 ringgit, or 1.12%, to 4,164 ringgit ($881.08) a tonne during early trade.
FUNDAMENTALS
Concerns over rainy weather triggered reduced production in top producers Indonesia and Malaysia, as well as fears of higher Indian import taxes helped supported prices.
Dalian's most-active soyoil contract DBYcv1 rose 1%, while its palm oil contract DCPcv1 gained 2.2%. Soyoil prices on the Chicago Board of Trade BOcv1 slipped after a 1.7% overnight rise.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
The ringgit MYR=, palm's currency of trade, fell 0.17% against the dollar, making it cheaper for buyers holding foreign currency.
Palm oil may test a resistance zone of 4,184-4,194 ringgit per tonne, with a good chance of breaking above this range and rising to 4,253 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets fell on Thursday as investor fears over a looming recession crimped risk appetite, while Treasury yields rose on expectations that the Federal Reserve will remain aggressive in its interest rate hikes.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 20 (Reuters) - Malaysian palm oil futures extended a rally on Thursday to a fifth straight session, touching their highest level in seven weeks lifted by a weakening ringgit and gains in rival edible oils.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 46 ringgit, or 1.12%, to 4,164 ringgit ($881.08) a tonne during early trade.
FUNDAMENTALS
Concerns over rainy weather triggered reduced production in top producers Indonesia and Malaysia, as well as fears of higher Indian import taxes helped supported prices.
Dalian's most-active soyoil contract DBYcv1 rose 1%, while its palm oil contract DCPcv1 gained 2.2%. Soyoil prices on the Chicago Board of Trade BOcv1 slipped after a 1.7% overnight rise.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
The ringgit MYR=, palm's currency of trade, fell 0.17% against the dollar, making it cheaper for buyers holding foreign currency.
Palm oil may test a resistance zone of 4,184-4,194 ringgit per tonne, with a good chance of breaking above this range and rising to 4,253 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets fell on Thursday as investor fears over a looming recession crimped risk appetite, while Treasury yields rose on expectations that the Federal Reserve will remain aggressive in its interest rate hikes.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Palm oil climbs to seven-week high on flood fears in top growers
https://mpoc.org.my/palm-oil-climbs-to-seven-week-high-on-flood-fears-in-top-growers/
KUALA LUMPUR (Oct 19): Palm oil advanced to the highest intraday level in seven weeks on worries that storms and floods in major growers could disrupt supply, while investors are also on alert for a potential import tax hike in top buyer India. Indonesia has issued flood warnings for provinces in Kalimantan and Sumatra, adding […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/palm-oil-climbs-to-seven-week-high-on-flood-fears-in-top-growers/
KUALA LUMPUR (Oct 19): Palm oil advanced to the highest intraday level in seven weeks on worries that storms and floods in major growers could disrupt supply, while investors are also on alert for a potential import tax hike in top buyer India. Indonesia has issued flood warnings for provinces in Kalimantan and Sumatra, adding […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
MPOC supports enforcement action against ‘No Palm Oil’ labels
https://mpoc.org.my/mpoc-supports-enforcement-action-against-no-palm-oil-labels/
KUALA LUMPUR: The Malaysian Palm Oil Council (MPOC) has voiced its support for enforcement actions to be taken against supermarkets and outlets displaying and selling products with ‘No Palm Oil’ on their label and packaging. The use of discriminatory labels against palm oil is prohibited under the Trade Description Act 2011, and the penalty for […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/mpoc-supports-enforcement-action-against-no-palm-oil-labels/
KUALA LUMPUR: The Malaysian Palm Oil Council (MPOC) has voiced its support for enforcement actions to be taken against supermarkets and outlets displaying and selling products with ‘No Palm Oil’ on their label and packaging. The use of discriminatory labels against palm oil is prohibited under the Trade Description Act 2011, and the penalty for […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
ИНТЕРЕСНЫЙ ФАКТ:
Согласно данным USDA Россия потребляет примерно 3,76 млн.т растителных масел, из которых один миллион - пальмовое.
By: via Malaysian Palm Oil Council Russia
Согласно данным USDA Россия потребляет примерно 3,76 млн.т растителных масел, из которых один миллион - пальмовое.
By: via Malaysian Palm Oil Council Russia
вторник, 18 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
GRAINS-U.S. wheat, soybeans, corn fall on demand concerns
CHICAGO, Oct 18 (Reuters) - U.S. wheat, corn and soybean futures fell on Tuesday on concerns that overseas buyers will turn to alternative supplies to meet their import needs, traders said.
"Consistently high prices are slowly doing their job of eroding demand across the board, with Brazil in particular among a group of global players that are plenty willing to pick up the slack," Matt Zeller, director of market information at brokerage StoneX, said in a note to clients.
Wheat futures posted the biggest decline, with the benchmark Chicago Board of Trade December soft red winter wheat contract WZ2 sinking to a four-week low.
Traders were monitoring talks about keeping the United Nations-backed shipping corridor open from Ukraine's Black Sea ports. The lane has allowed exports from the key global grain supplier to pick up despite the war with Russia.
"Attention on the wheat markets remains focused on the negotiations," Commerzbank said in a note, adding that a price fall after a U.N. spokesman called the talks "positive and constructive" was a "foretaste" of what might happen if a deal is concluded.
CBOT December wheat WZ2 settled down 11-1/2 cents at $8.49-1/2 a bushel. The contract bottomed out at $8.32-3/4 during the session.
CBOT November soybeans SX2 were off 13-1/4 cents at $13.72 a bushel and CBOT December corn CZ2 slipped 2-1/2 cents to $6.81 a bushel.
Brazil's grain exporters association Anec on Tuesday morning raised its forecast for the country's soybean and corn exports during October, a time when U.S. shippers typically dominate the market as the bulk of the Midwest crop is harvested.
A U.S. Department of Agriculture (USDA) report on Monday showed the corn harvest was 45% complete by mid-October, slightly below market forecasts but ahead of the five-year average.
The U.S. soybean harvest was 63% complete, above the five-year average of 52%.
Traders are also assessing U.S. export prospects, which have been complicated by a strong dollar and low water levels on the Mississippi river, a major route for transporting grain to U.S. Gulf export terminals.
By: via Malaysian Palm Oil Council Russia
CHICAGO, Oct 18 (Reuters) - U.S. wheat, corn and soybean futures fell on Tuesday on concerns that overseas buyers will turn to alternative supplies to meet their import needs, traders said.
"Consistently high prices are slowly doing their job of eroding demand across the board, with Brazil in particular among a group of global players that are plenty willing to pick up the slack," Matt Zeller, director of market information at brokerage StoneX, said in a note to clients.
Wheat futures posted the biggest decline, with the benchmark Chicago Board of Trade December soft red winter wheat contract WZ2 sinking to a four-week low.
Traders were monitoring talks about keeping the United Nations-backed shipping corridor open from Ukraine's Black Sea ports. The lane has allowed exports from the key global grain supplier to pick up despite the war with Russia.
"Attention on the wheat markets remains focused on the negotiations," Commerzbank said in a note, adding that a price fall after a U.N. spokesman called the talks "positive and constructive" was a "foretaste" of what might happen if a deal is concluded.
CBOT December wheat WZ2 settled down 11-1/2 cents at $8.49-1/2 a bushel. The contract bottomed out at $8.32-3/4 during the session.
CBOT November soybeans SX2 were off 13-1/4 cents at $13.72 a bushel and CBOT December corn CZ2 slipped 2-1/2 cents to $6.81 a bushel.
Brazil's grain exporters association Anec on Tuesday morning raised its forecast for the country's soybean and corn exports during October, a time when U.S. shippers typically dominate the market as the bulk of the Midwest crop is harvested.
A U.S. Department of Agriculture (USDA) report on Monday showed the corn harvest was 45% complete by mid-October, slightly below market forecasts but ahead of the five-year average.
The U.S. soybean harvest was 63% complete, above the five-year average of 52%.
Traders are also assessing U.S. export prospects, which have been complicated by a strong dollar and low water levels on the Mississippi river, a major route for transporting grain to U.S. Gulf export terminals.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Europe’s Deadliest Winter Looms Near
https://mpoc.org.my/europes-deadliest-winter-looms-near/
When overdependence on Russia bites the collective back of European nations The leaders of the European Union (EU) nations have been busy addressing an impending disaster, one that they are scrambling to avoid, with winter just several weeks away. The ongoing energy crisis in Europe is a grave one, as there is uncertainty whether the […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/europes-deadliest-winter-looms-near/
When overdependence on Russia bites the collective back of European nations The leaders of the European Union (EU) nations have been busy addressing an impending disaster, one that they are scrambling to avoid, with winter just several weeks away. The ongoing energy crisis in Europe is a grave one, as there is uncertainty whether the […]
By: via Malaysian Palm Oil Council Russia
понедельник, 17 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
Very rapid fire on BursaMalaysia this morning with most months surpassing 4000 level.
There must be lots of short covering after an expected strong market y'day went flat.
Next: Malaysia 1-20 palmoil production and exports.
By: via Malaysian Palm Oil Council Russia
There must be lots of short covering after an expected strong market y'day went flat.
Next: Malaysia 1-20 palmoil production and exports.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
GRAINS-U.S. wheat, soybean futures end firm; corn weakens
CHICAGO, Oct 17 (Reuters) - U.S. wheat futures ended slightly higher on Monday but closed well off their session peaks as traders monitored developments in efforts to keep a Black Sea shipping lane open for Ukraine grain exports.
Corn futures sank on seasonal harvest pressure while soybeans firmed on bullish export data, traders said.
Wheat surged early on Monday, recovering from sharp declines in three of the past four sessions, after Russia told a United Nations representative that the extension of a Black Sea grain deal was dependent on the West easing restrictions on Russia's own agricultural and fertilizer exports.
But the wheat market gave up most of those gains when U.N. spokesman Stephane Dujarric said officials held "positive and constructive" discussions in Moscow on expanding the deal.
Chicago Board of Trade December soft red winter wheat futures WZ2 ended up 1-1/4 cents at $8.61 a bushel after peaking at $8.77-3/4.
CBOT November soybean futures SX2 were 1-1/2 cents higher at $13.85-1/4 a bushel.
The U.S. Agriculture Department said on Monday morning that weekly export inspections of soybeans totaled 1.882 million tonnes, nearly double the prior week's total and above market expectations.
But traders said concerns that top buyer China will soon look to other suppliers limited the gains in the soy market.
"It is still expected that Chinese demand will be
completed by mid to late November and that Chinese demand after that will shift to South America," Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage, said in a research note.
CBOT December corn CZ2 was down 6-1/4 cents at $6.83-1/2 a bushel.
A USDA report on Monday afternoon showed that corn harvest was 45% complete as of Oct. 16, slightly below market forecasts but ahead of the five-year average for mid-October of 40%.
By: via Malaysian Palm Oil Council Russia
CHICAGO, Oct 17 (Reuters) - U.S. wheat futures ended slightly higher on Monday but closed well off their session peaks as traders monitored developments in efforts to keep a Black Sea shipping lane open for Ukraine grain exports.
Corn futures sank on seasonal harvest pressure while soybeans firmed on bullish export data, traders said.
Wheat surged early on Monday, recovering from sharp declines in three of the past four sessions, after Russia told a United Nations representative that the extension of a Black Sea grain deal was dependent on the West easing restrictions on Russia's own agricultural and fertilizer exports.
But the wheat market gave up most of those gains when U.N. spokesman Stephane Dujarric said officials held "positive and constructive" discussions in Moscow on expanding the deal.
Chicago Board of Trade December soft red winter wheat futures WZ2 ended up 1-1/4 cents at $8.61 a bushel after peaking at $8.77-3/4.
CBOT November soybean futures SX2 were 1-1/2 cents higher at $13.85-1/4 a bushel.
The U.S. Agriculture Department said on Monday morning that weekly export inspections of soybeans totaled 1.882 million tonnes, nearly double the prior week's total and above market expectations.
But traders said concerns that top buyer China will soon look to other suppliers limited the gains in the soy market.
"It is still expected that Chinese demand will be
completed by mid to late November and that Chinese demand after that will shift to South America," Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage, said in a research note.
CBOT December corn CZ2 was down 6-1/4 cents at $6.83-1/2 a bushel.
A USDA report on Monday afternoon showed that corn harvest was 45% complete as of Oct. 16, slightly below market forecasts but ahead of the five-year average for mid-October of 40%.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil climbs to six-week high on weak ringgit, supply woes
KUALA LUMPUR, Oct 18 (Reuters) - Malaysian palm oil futures rose for a third consecutive session to its highest in six weeks on Tuesday, helped by the decline in the ringgit and concerns over global edible oil supply.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 58 ringgit, or 1.49%, to 3,945 ringgit ($836.16) a tonne during early trade.
FUNDAMENTALS
The ringgit MYR=, palm's currency of trade fell 0.06% against the dollar to its lowest since 1998, making the commodity cheaper for holders of foreign currency.
The palm market was supported by concerns over supply disruption as Russia threatened to pull out of an agreement on Black Sea grain exports, Refinitiv Commodities Research said in a note late Monday.
Exports of Malaysian palm oil products for Oct. 1-15 fell 0.9% to 640,119 tonnes from the same period in September, cargo surveyor Societe Generale de Surveillance said on Tuesday.
Dalian's most-active soyoil contract DBYcv1 gained 0.1%, while its palm oil contract DCPcv1 gained 1%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.5%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may break a resistance at 3,924 ringgit per tonne and rise into 3,958-4,001-ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asia stocks nudged higher on Tuesday as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week as a revival in risk-taking lowered its appeal.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 18 (Reuters) - Malaysian palm oil futures rose for a third consecutive session to its highest in six weeks on Tuesday, helped by the decline in the ringgit and concerns over global edible oil supply.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 58 ringgit, or 1.49%, to 3,945 ringgit ($836.16) a tonne during early trade.
FUNDAMENTALS
The ringgit MYR=, palm's currency of trade fell 0.06% against the dollar to its lowest since 1998, making the commodity cheaper for holders of foreign currency.
The palm market was supported by concerns over supply disruption as Russia threatened to pull out of an agreement on Black Sea grain exports, Refinitiv Commodities Research said in a note late Monday.
Exports of Malaysian palm oil products for Oct. 1-15 fell 0.9% to 640,119 tonnes from the same period in September, cargo surveyor Societe Generale de Surveillance said on Tuesday.
Dalian's most-active soyoil contract DBYcv1 gained 0.1%, while its palm oil contract DCPcv1 gained 1%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.5%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may break a resistance at 3,924 ringgit per tonne and rise into 3,958-4,001-ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asia stocks nudged higher on Tuesday as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week as a revival in risk-taking lowered its appeal.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
FCPO market recovered to end the day on plus 12 after taking a deep plunge of minus 90 points on the new benchmark month Jan-23. Trading was volatile with most month ending less than 1% up
Source: Palm Oil Analytics
By: via Malaysian Palm Oil Council Russia
Source: Palm Oil Analytics
By: via Malaysian Palm Oil Council Russia
четверг, 13 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
Indonesia’s August palm oil exports at 4.33 million tonnes: Association
Indonesia exported 4.33 million tonnes of palm oil products in August, data from industry group the Indonesian Palm Oil Association (GAPKI) showed on Tuesday (Oct 11), up from 2.71 million tonnes in July. Indonesia’s decision to waive levies on palm oil exports had helped “improved competitiveness of Indonesian palm oil products in global market amid stiff competition with other vegetable oils”, GAPKI said in a statement. On an annual basis, exports grew 1.4 per cent.
By: via Malaysian Palm Oil Council Russia
Indonesia exported 4.33 million tonnes of palm oil products in August, data from industry group the Indonesian Palm Oil Association (GAPKI) showed on Tuesday (Oct 11), up from 2.71 million tonnes in July. Indonesia’s decision to waive levies on palm oil exports had helped “improved competitiveness of Indonesian palm oil products in global market amid stiff competition with other vegetable oils”, GAPKI said in a statement. On an annual basis, exports grew 1.4 per cent.
By: via Malaysian Palm Oil Council Russia
среда, 12 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
Palm oil to trade below 3,500 rgt in 2023, says LMC International
KUALA LUMPUR, Oct 13 (Reuters) - Malaysia's palm oil price is forecast to trade between 3,200-3,500 ringgit a tonne next year as stocks in the world's second-largest producer rise, commodities consultancy LMC International said on Thursday.
"Weak supply starting in 2019 pushed up prices, the cycle is correcting," Julian McGill, head of South East Asia at LMC International, said at a conference.
Benchmark crude palm oil prices FCPOc3 hit a record high of 7,268 ringgit ($1,552.99) in March due to a global edible oil shortage, triggered by the war in Ukraine and export curbs in Indonesia.
But prices have since plunged by nearly half after Indonesia, the world's largest producer, removed a restriction on exports and waived export levies to accelerate shipments.
Jakarta is considering extending the export levy waiver on palm oil until year-end, which may draw demand away from smaller rival Malaysia and pressure prices.
"A surge in exports from Indonesia, as the crop recovers and the bottlenecks are removed, is causing Malaysian stocks to rise," said McGill, adding that inventories were being pulled up to near 3 million tonnes.
Prices will continue to decline to around 3,200 ringgit in the first quarter of 2023, and remain below 3,500 ringgit into the second half of that year, McGill said.
There was mixed evidence on demand destruction, and palm oil exports from Indonesia and Malaysia, which constitutes around 85% of global palm oil exports, were lower than 2019, he said.
($1 = 4.6850 ringgit)
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 13 (Reuters) - Malaysia's palm oil price is forecast to trade between 3,200-3,500 ringgit a tonne next year as stocks in the world's second-largest producer rise, commodities consultancy LMC International said on Thursday.
"Weak supply starting in 2019 pushed up prices, the cycle is correcting," Julian McGill, head of South East Asia at LMC International, said at a conference.
Benchmark crude palm oil prices FCPOc3 hit a record high of 7,268 ringgit ($1,552.99) in March due to a global edible oil shortage, triggered by the war in Ukraine and export curbs in Indonesia.
But prices have since plunged by nearly half after Indonesia, the world's largest producer, removed a restriction on exports and waived export levies to accelerate shipments.
Jakarta is considering extending the export levy waiver on palm oil until year-end, which may draw demand away from smaller rival Malaysia and pressure prices.
"A surge in exports from Indonesia, as the crop recovers and the bottlenecks are removed, is causing Malaysian stocks to rise," said McGill, adding that inventories were being pulled up to near 3 million tonnes.
Prices will continue to decline to around 3,200 ringgit in the first quarter of 2023, and remain below 3,500 ringgit into the second half of that year, McGill said.
There was mixed evidence on demand destruction, and palm oil exports from Indonesia and Malaysia, which constitutes around 85% of global palm oil exports, were lower than 2019, he said.
($1 = 4.6850 ringgit)
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Palm Oil Internet Seminar (POINTERS) 14 – 18 November, 2022
https://mpoc.org.my/palm-oil-internet-seminar-pointers-14-18-november-2022/
Click Here To Register
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/palm-oil-internet-seminar-pointers-14-18-november-2022/
Click Here To Register
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm rises for second day on weaker ringgit, higher stocks limit gains
KUALA LUMPUR, Oct 13 (Reuters) - Malaysian palm oil futures rose for a second consecutive session on Thursday, lifted by a weaker ringgit and strength in rival edible oils, although rising inventories limited the gains.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 26 ringgit, or 0.7%, to 3,762 ringgit ($802.82) a tonne during early trade.
FUNDAMENTALS
Palm oil prices will continue to decline to around 3,200 ringgit in the first quarter of 2023, and remain below 3,500 ringgit into the second half of that year as stocks build, said Julian McGill, head of South East Asia at LMC International.
Dalian's most-active soyoil contract DBYcv1 rose 1.4%, while its palm oil contract DCPcv1 gained 0.8%. Soyoil prices on the Chicago Board of Trade BOcv1 were fell 0.3%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 3,652 ringgit per tonne, a break below which could open the way towards 3,570 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Wall Street's equity indexes ended Wednesday's volatile session in the red and the dollar made little progress while bond yields fell as investors digested minutes from the latest Federal Reserve meeting and waited for a key U.S. inflation reading.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 13 (Reuters) - Malaysian palm oil futures rose for a second consecutive session on Thursday, lifted by a weaker ringgit and strength in rival edible oils, although rising inventories limited the gains.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 26 ringgit, or 0.7%, to 3,762 ringgit ($802.82) a tonne during early trade.
FUNDAMENTALS
Palm oil prices will continue to decline to around 3,200 ringgit in the first quarter of 2023, and remain below 3,500 ringgit into the second half of that year as stocks build, said Julian McGill, head of South East Asia at LMC International.
Dalian's most-active soyoil contract DBYcv1 rose 1.4%, while its palm oil contract DCPcv1 gained 0.8%. Soyoil prices on the Chicago Board of Trade BOcv1 were fell 0.3%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 3,652 ringgit per tonne, a break below which could open the way towards 3,570 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Wall Street's equity indexes ended Wednesday's volatile session in the red and the dollar made little progress while bond yields fell as investors digested minutes from the latest Federal Reserve meeting and waited for a key U.S. inflation reading.
By: via Malaysian Palm Oil Council Russia
вторник, 11 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
Spreading the goodness palm-based margarine
https://mpoc.org.my/spreading-the-goodness-palm-based-margarine/
With billions of people on earth, one might wonder is there enough food for all of us? Food security has become more and more pressing since several years ago. Due to various health, environmental, and social concerns, the global demand for animal sourced products is becoming more challenging to fulfill.
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/spreading-the-goodness-palm-based-margarine/
With billions of people on earth, one might wonder is there enough food for all of us? Food security has become more and more pressing since several years ago. Due to various health, environmental, and social concerns, the global demand for animal sourced products is becoming more challenging to fulfill.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Malaysian Certified Sustainable Palm Oil Product Potential in the Middle East
https://mpoc.org.my/malaysian-certified-sustainable-palm-oil-product-potential-in-the-middle-east/
The Middle East region, with a population of more than 330 million and an upward trend in consumption, used 2.35 million tonnes of palm oil in 2021 and has been showing signs as a potential Malaysian palm oil (MPO) market and re-export point from which it could be sold to its neighbouring countries. Palm oil […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/malaysian-certified-sustainable-palm-oil-product-potential-in-the-middle-east/
The Middle East region, with a population of more than 330 million and an upward trend in consumption, used 2.35 million tonnes of palm oil in 2021 and has been showing signs as a potential Malaysian palm oil (MPO) market and re-export point from which it could be sold to its neighbouring countries. Palm oil […]
By: via Malaysian Palm Oil Council Russia
понедельник, 10 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil set to end seven-day climb on weak Oct exports
KUALA LUMPUR, Oct 11 (Reuters) - Malaysian palm oil futures fell on Tuesday ahead of key data, on course to end a seven-day rally, as slowing early October exports weighed on sentiment.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange slid 65 ringgit, or 1.72%, to 3,771 ringgit ($807.49) a tonne during early trade.
FUNDAMENTALS
Exports of Malaysian palm oil products for October 1-10 fell 17.3% to 350,767 tonnes from 423,912 tonnes, which were shipped during September 1-10, cargo surveyor Intertek Testing Services said on Monday.
The Malaysian Palm Oil Board is scheduled to release September supply and demand data later in the day.
Dalian's most-active soyoil contract DBYcv1 rose 0.1%, while its palm oil contract DCPcv1 gained 1.3%. Soyoil prices on the Chicago Board of Trade BOcv1 fell 0.1%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Oil prices extended nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand.
Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
Palm oil may rise to a range of 3,919 ringgit to 4,008 ringgit per tonne, as it has broken a falling trendline and the upper trendline of a small wedge, Reuters technical analyst Wang Tao said.
MARKET NEWS
The MSCI global index of stocks .MIWD00000PUS lost ground in a volatile session on Monday while the dollar gained slightly, as investors braced for high inflation data and the start of corporate earnings season.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 11 (Reuters) - Malaysian palm oil futures fell on Tuesday ahead of key data, on course to end a seven-day rally, as slowing early October exports weighed on sentiment.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange slid 65 ringgit, or 1.72%, to 3,771 ringgit ($807.49) a tonne during early trade.
FUNDAMENTALS
Exports of Malaysian palm oil products for October 1-10 fell 17.3% to 350,767 tonnes from 423,912 tonnes, which were shipped during September 1-10, cargo surveyor Intertek Testing Services said on Monday.
The Malaysian Palm Oil Board is scheduled to release September supply and demand data later in the day.
Dalian's most-active soyoil contract DBYcv1 rose 0.1%, while its palm oil contract DCPcv1 gained 1.3%. Soyoil prices on the Chicago Board of Trade BOcv1 fell 0.1%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Oil prices extended nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand.
Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
Palm oil may rise to a range of 3,919 ringgit to 4,008 ringgit per tonne, as it has broken a falling trendline and the upper trendline of a small wedge, Reuters technical analyst Wang Tao said.
MARKET NEWS
The MSCI global index of stocks .MIWD00000PUS lost ground in a volatile session on Monday while the dollar gained slightly, as investors braced for high inflation data and the start of corporate earnings season.
By: via Malaysian Palm Oil Council Russia
четверг, 6 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil set for longest winning streak in 18 months
KUALA LUMPUR, Oct 7 (Reuters) - Malaysian palm oil futures rose for a seventh straight session on Friday, clocking its longest winning streak since March 2021, buoyed by stronger crude prices ahead of a long weekend and key data releases.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 75 ringgit, or 2.03%, to 3,775 ringgit ($812.35) a tonne during early trade.
For the week, the contract has surged 10.3% so far, its biggest jump in nearly two months.
FUNDAMENTALS
Plantation firms in Malaysia, the world's second-biggest producer of palm oil, are stepping up mechanisation to stem losses running into billions of dollars as fruit goes unharvested during their worst labour shortage yet.
The Malaysian bourse will be closed on Monday for a holiday.
The Malaysian Palm Oil Board is scheduled to announce supply and demand data for September when the market reopens on Tuesday, with a Reuters' poll forecasting inventories swelling to a near three-year high.
Malaysia is set to announce its 2023 budget later in the day.
Soyoil prices on the Chicago Board of Trade BOcv1 slipped 0.1% after a four day rally. The Dalian exchange is closed for the week for holidays.
Oil prices rose, continuing an upward trend after OPEC+, this week, agreed to tighten global supply with a deal to cut production targets by 2 million barrels per day (bpd).
Stronger crude prices makes palm a more attractive option for biodiesel feedstock.
Palm oil may test a resistance at 3,824 ringgit per tonne, a break above which could lead to a gain into the 3,858-3,919 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian stocks declined, extending a global equity slide to a third day, as investors fretted over recession risks amid signs of further aggressive central bank policy tightening.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 7 (Reuters) - Malaysian palm oil futures rose for a seventh straight session on Friday, clocking its longest winning streak since March 2021, buoyed by stronger crude prices ahead of a long weekend and key data releases.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 75 ringgit, or 2.03%, to 3,775 ringgit ($812.35) a tonne during early trade.
For the week, the contract has surged 10.3% so far, its biggest jump in nearly two months.
FUNDAMENTALS
Plantation firms in Malaysia, the world's second-biggest producer of palm oil, are stepping up mechanisation to stem losses running into billions of dollars as fruit goes unharvested during their worst labour shortage yet.
The Malaysian bourse will be closed on Monday for a holiday.
The Malaysian Palm Oil Board is scheduled to announce supply and demand data for September when the market reopens on Tuesday, with a Reuters' poll forecasting inventories swelling to a near three-year high.
Malaysia is set to announce its 2023 budget later in the day.
Soyoil prices on the Chicago Board of Trade BOcv1 slipped 0.1% after a four day rally. The Dalian exchange is closed for the week for holidays.
Oil prices rose, continuing an upward trend after OPEC+, this week, agreed to tighten global supply with a deal to cut production targets by 2 million barrels per day (bpd).
Stronger crude prices makes palm a more attractive option for biodiesel feedstock.
Palm oil may test a resistance at 3,824 ringgit per tonne, a break above which could lead to a gain into the 3,858-3,919 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian stocks declined, extending a global equity slide to a third day, as investors fretted over recession risks amid signs of further aggressive central bank policy tightening.
By: via Malaysian Palm Oil Council Russia
среда, 5 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil rallies for sixth day, tracking soyoil and crude
KUALA LUMPUR, Oct 6 (Reuters) - Malaysian palm oil futures jumped 4% early Thursday, rising for a sixth consecutive session, tracking a rally in Chicago soyoil as well as crude oil prices.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 160 ringgit, or 4.39%, to 3,802 ringgit ($821.34) a tonne during early trade.
FUNDAMENTALS
Oil prices rose for a fourth session, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrel per day, the largest reduction since 2020.
Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.
Soyoil prices on the Chicago Board of Trade BOcv1 rose 0.3%, up for a fourth day. The Dalian exchange was closed for the week for holidays.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil still targets a range of 3,824-3,919 ringgit per tonne, as the uptrend from 3,220 ringgit consists of five waves, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares were cautiously higher on Thursday, while the dollar eased ahead of U.S. non-farm payrolls data, and oil prices gained after deep production cuts pledged by OPEC+ members.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Oct 6 (Reuters) - Malaysian palm oil futures jumped 4% early Thursday, rising for a sixth consecutive session, tracking a rally in Chicago soyoil as well as crude oil prices.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 160 ringgit, or 4.39%, to 3,802 ringgit ($821.34) a tonne during early trade.
FUNDAMENTALS
Oil prices rose for a fourth session, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrel per day, the largest reduction since 2020.
Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.
Soyoil prices on the Chicago Board of Trade BOcv1 rose 0.3%, up for a fourth day. The Dalian exchange was closed for the week for holidays.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil still targets a range of 3,824-3,919 ringgit per tonne, as the uptrend from 3,220 ringgit consists of five waves, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares were cautiously higher on Thursday, while the dollar eased ahead of U.S. non-farm payrolls data, and oil prices gained after deep production cuts pledged by OPEC+ members.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
World Environment Day 2022
https://mpoc.org.my/world-environment-day-2022/
The World Environment Day 2022 is celebrated on 5th June and is the biggest international day for the environment led by the United Nations Environment Programme (UNEP) since 1973. This year, the celebration is held in Sweden with the campaign slogan “Only One Earth", focusing on “Living Sustainably in Harmony with Nature”. The slogan specifically highlights the need to live sustainably in harmony with nature.
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/world-environment-day-2022/
The World Environment Day 2022 is celebrated on 5th June and is the biggest international day for the environment led by the United Nations Environment Programme (UNEP) since 1973. This year, the celebration is held in Sweden with the campaign slogan “Only One Earth", focusing on “Living Sustainably in Harmony with Nature”. The slogan specifically highlights the need to live sustainably in harmony with nature.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
CPO futures continue positive momentum for fifth day
https://mpoc.org.my/cpo-futures-continue-positive-momentum-for-fifth-day/
KUALA LUMPUR (Oct 5): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives continued its rally to close higher, tracking gains in both soybean oil on the Chicago Board of Trade (CBOT) and the crude oil market. “We located the support level at RM3,500 a tonne and resistance at RM3,800 a tonne,” palm oil […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/cpo-futures-continue-positive-momentum-for-fifth-day/
KUALA LUMPUR (Oct 5): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives continued its rally to close higher, tracking gains in both soybean oil on the Chicago Board of Trade (CBOT) and the crude oil market. “We located the support level at RM3,500 a tonne and resistance at RM3,800 a tonne,” palm oil […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Indonesia plans extension of palm oil export levy waiver to year-end
https://mpoc.org.my/indonesia-plans-extension-of-palm-oil-export-levy-waiver-to-year-end/
JAKARTA: Indonesia, the world’s biggest producer of palm oil, may extend an export levy waiver on the edible oil to the end of this year, its chief economic minister said on Tuesday. Indonesia started waiving levies imposed on exports of palm oil products from mid-July to help reduce a stock glut that accumulated after a […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/indonesia-plans-extension-of-palm-oil-export-levy-waiver-to-year-end/
JAKARTA: Indonesia, the world’s biggest producer of palm oil, may extend an export levy waiver on the edible oil to the end of this year, its chief economic minister said on Tuesday. Indonesia started waiving levies imposed on exports of palm oil products from mid-July to help reduce a stock glut that accumulated after a […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
INDONESIA PLANS EXTENSION OF PALM OIL EXPORT LEVY TO YEAR-END
JAKARTA, Oct 4 (Reuters) - Indonesia, the world's biggest producer of palm oil, may extend an export levy waiver on the edible oil to the end of this year, its chief economic minister said on Tuesday.
Indonesia started waiving levies imposed on exports of palm oil products from mid-July to help reduce a stock glut that accumulated after a three-week export ban in late April, which was designed to stabilise local cooking oil prices.
The levy waiver policy is currently scheduled to end after Oct. 31.
"The plan is for an extension... until the end of the year," minister Airlangga Hartarto told reporters.
Indonesia collects export levies, on top of a separate export tax, to fund subsidies for its biodiesel and smallholders replanting programmes.
However, as palm oil prices have dropped and the cost of palm oil-based biodiesel is lower than fossil diesel fuel, Indonesia currently needs less funds for the biodiesel programme, Airlangga said.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Oct 4 (Reuters) - Indonesia, the world's biggest producer of palm oil, may extend an export levy waiver on the edible oil to the end of this year, its chief economic minister said on Tuesday.
Indonesia started waiving levies imposed on exports of palm oil products from mid-July to help reduce a stock glut that accumulated after a three-week export ban in late April, which was designed to stabilise local cooking oil prices.
The levy waiver policy is currently scheduled to end after Oct. 31.
"The plan is for an extension... until the end of the year," minister Airlangga Hartarto told reporters.
Indonesia collects export levies, on top of a separate export tax, to fund subsidies for its biodiesel and smallholders replanting programmes.
However, as palm oil prices have dropped and the cost of palm oil-based biodiesel is lower than fossil diesel fuel, Indonesia currently needs less funds for the biodiesel programme, Airlangga said.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
European Parliament votes for new deforestation law
The European Parliament today voted to strengthen proposals for a new deforestation regulation to help protect the world’s forests.
The draft law, initially put forward by the European Commission, will require companies to ensure that the products they sell in Europe are not driving deforestation or human rights abuses.
By: via Malaysian Palm Oil Council Russia
The European Parliament today voted to strengthen proposals for a new deforestation regulation to help protect the world’s forests.
The draft law, initially put forward by the European Commission, will require companies to ensure that the products they sell in Europe are not driving deforestation or human rights abuses.
By: via Malaysian Palm Oil Council Russia
вторник, 4 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
ОНЛАЙН БИЗНЕС-ВСТРЕЧА С ПОСТАВЩИКАМИ ИЗ МАЛАЙЗИИ
6 ОКТЯБРЯ 2022
By: via Malaysian Palm Oil Council Russia
6 ОКТЯБРЯ 2022
By: via Malaysian Palm Oil Council Russia
понедельник, 3 октября 2022 г.
Malaysian Palm Oil Council Russia's Post
Pakistan’s Evolving Growth of Processed Food Industry – An Opportunity for Malaysian Palm Oil
https://mpoc.org.my/pakistans-evolving-growth-of-processed-food-industry-an-opportunity-for-malaysian-palm-oil/
The food processing industry in Pakistan is considered one of the most promising sectors not only for domestic industrial development, but also for export growth. Driven by an expanding urban middle class with rising disposable incomes, sales of packaged food in Pakistan have surged in recent years. Presently, the growing demand for convenience food is […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/pakistans-evolving-growth-of-processed-food-industry-an-opportunity-for-malaysian-palm-oil/
The food processing industry in Pakistan is considered one of the most promising sectors not only for domestic industrial development, but also for export growth. Driven by an expanding urban middle class with rising disposable incomes, sales of packaged food in Pakistan have surged in recent years. Presently, the growing demand for convenience food is […]
By: via Malaysian Palm Oil Council Russia
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