| Commodity Market News |
Festive demand, weather boost palm oil to four-month top
06 August 2010
Malaysia crude palm oil futures hit a four-and-a-half-month high as expectations of festive demand and weather concerns worldwide lifted sentiment. Traditionally, seasonally harvesting is going to slow down due to the fasting season (the Muslim holy month of Ramadan), so it is believed that in August production may go down a bit.
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India's festive vegoil imports to rise 10 pct-trade
06 August 2010
India's festival demand for vegetable oils may rise 10 percent to 2.25 million tonnes from a year ago as prospects brighten for Asia's third largest economy. But an improving monsoon and farmers holding huge local oilseeds stocks may weaken the pace of imports for the world's No.1 buyer of vegetable oils.
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India's June vegoil imports seen down 18 pct y/y
14 July 2010
India's vegetable oil imports in June probably fell 18 percent from a year ago, as farmers and traders sold oilseed reserves ahead of the summer planting season, pushing down domestic prices. Palm oil imports by India, the world's top buyer of edible oils, dropped 2 percent, while soyoil imports fell 42 percent as the planting of soybean, main summer season oilseed crop, started with the progress of the monsoon season.
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China soyoil buy lifts Malaysian palm oil
16 June 2010
Malaysian crude palm oil futures gained more than 1 percent, boosted by China's aggressive buying of soyoil
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India's May vegoil imports seen down 26 pct y/y
16 June 2010
India's vegetable oil imports in May probably fell 26 percent from a year ago on lower domestic prices, while the early onset of summer accentuated the seasonal drop in demand.
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PEC floats tender to import RBD palmolein
15 June 2010
State-owned agency PEC has floated a tender to import 12,000 tonnes of refined, bleached and deodorised palmolein.
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Malaysia palm oil exports up 15.6
11 June 2010
Exports of Malaysian palm oil products for June 1-10 rose 15.6 percent to 4,23,199 tonnes from 3,66,050 tonnes shipped between May 1 to 10.
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Malaysia May palm stocks at 8-mth low, prices to rise
11 June 2010
Malaysia's palm oil stocks dropped to an eighth-month low in May as foreign and local demand outpaced a recovery in production.The Malaysian Palm Oil Board said stocks in the world's No.2 palm oil producer fell 3.71 percent to 1.56 million tonnes, lower than market expectations for a 0.6 percent drop.
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Malaysia's April palm stocks at 7-month lows
26 May 2010
Malaysia's April palm oil stocks fell to a 7-month low as combined overseas and local demand outstripped sluggish output in May 2010.As per the Malaysian Palm Oil Board said stocks in the world's second largest producer of the vegetable oil fell 2.0 percent to 1.62 million tonnes, missing market expectations for a 4 percent drop.
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India's oilseed glut threatens vegoil imports
25 May 2010
India's record large oilseed stockpile looks set to finally dribble into the market in the next few months as forecasts for normal monsoon rains prompt speculators to release stocks, and reduce vegetable oil imports.
India, the world's biggest importer of edible oil, still has about 70 percent of this year's oilseed output of around 26 million tonnes to process, but crushing will pick up from June as forecasts of ample rains promise plentiful supply next year.
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