Tuesday, March 4, 2014
March 4 (Bloomberg) -- Palm, the world’s most-consumed edible oil, will see prices influenced by a potential El Nino weather event and increased biodiesel demand from Indonesia, according to Dorab Mistry, director at Godrej International Ltd.
Posted by futures88 at 3/04/2014 09:37:00 PM
Thursday, February 20, 2014
Tuesday, February 18, 2014
Saturday, February 15, 2014
Monday, February 10, 2014
Feb. 10 (Bloomberg) -- China’s banking regulator ordered some of the nation’s smaller lenders to set aside more funds to avoid a cash shortfall, three people with knowledge of the matter said, signaling rising concern that defaults may climb.
China Banking Regulatory Commission branches asked some city commercial banks and rural lenders to strengthen liquidity management this year, the people said, asking not to be named as the matter is confidential. Different requirements are being instituted by province, such as quarterly stress tests, after CBRC studies last year showed increasing risks at those lenders, the people said.
Feb. 10 (Bloomberg) -- Palm oil stockpiles in Malaysia dropped to the lowest level in three months in January as output in the world’s second-biggest producer after Indonesia tumbled to a seven-month low. Futures climbed to a one-month high.
Inventories fell 2.6 percent to 1.93 million metric tons from a month earlier, while exports lost 9.9 percent to 1.37 million tons, the Malaysian Palm Oil Board said today. The median of estimates in a Bloomberg survey was 1.98 million tons for reserves and 1.35 million tons for exports. Production fell
9.6 percent to 1.51 million tons, in line with the survey and the lowest since June, according to board data.
Futures capped the biggest monthly loss since July last month on concern that exports may drop as rising supplies of alternative cooking oils reduce the appeal of the tropical oil used in food to fuel. Palm oil’s discount to soybean oil narrowed to $79.53 a ton compared with an average of $214.18 in the past year, according to data compiled by Bloomberg.
“Although inventories have come below estimates, exports have been lower and this will limit gain in prices,” said Chandran Sinnasamy, head of trading at LT International Futures Sdn. in Kuala Lumpur. “Inventories may drop by about 3 percent this month because of declining output.”
Production is typically lowest in January and February because of growing cycles and the annual rainy season, while exports decrease during the Northern Hemisphere winter as the tropical oil clouds in cooler temperatures. Inventories at the end of January were the lowest since October and 27 percent less than the record 2.63 million tons reached in December 2012.
Posted by futures88 at 2/10/2014 09:44:00 PM
Saturday, January 25, 2014
Jan. 24 (Bloomberg) -- Palm oil retreated from the highest level in more than two weeks on speculation that exports from Malaysia, the world’s second-biggest producer, may drop for a third month.
The contract for April delivery declined 0.5 percent to close at 2,590 ringgit ($773) a metric ton on the Bursa Malaysia Derivatives. Futures closed at 2,602 ringgit yesterday, the highest price since Jan. 6. The loss today pared the weekly gain to 2 percent.
Exports from Malaysia dropped for a second month in December, according to the nation’s palm oil board. Shipments fell 15 percent to 748,303 tons in the first 20 days of January from the same period a month earlier, Intertek, a surveyor, said Jan. 20. A rebound in the ringgit can further reduce exports, said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental Singapore Pte.
Posted by futures88 at 1/25/2014 01:40:00 AM