The benchmark January crude palm oil futures contract on Bursa Malaysia Derivatives (BMD) closed at MYR2,247 a metric ton, down MYR13 or -0.58%, little changed from the opening level of MYR2,260 after trading in a narrow range throughout the day on fears of rising inventories and spillover weakness from crude and soyoil.
Palm oil reserves were at 1.58 million tons at end-September, according to Malaysian Palm Oil Board (MPOB) estimate.
Cash palm olein for January/February/March traded at $690/ton and $687.50/ton, while April/May/June traded at $697.50/ton and $700/ton. Cash CPO for prompt shipment was offered MYR60 lower at MYR2,180/ton.
Closing BMD Crude Palm Oil (CPO) futures prices in MYR/ton at 18:00 MYT:
Month Close Previous Change High Low Nov 09 2,175 2,200 Dn 25 2,175 2,161 Dec 09 2,221 2,232 Dn 11 2,226 2,206 Jan 10 2,247 2,260 Dn 13 2,254 2,232 Feb 10 2,266 2,280 Dn 14 2,275 2,255
Daily Palm Oil News Summary:
Malaysia Palm Oil News
The International Palm Oil Congress 2009 (PIPOC 2009), hosted by MPOB and themed “Balancing Ecologic with Economics”, will be held at the Kuala Lumpur Convention Centre from November 9 – 12. PIPOC 2009 aims to discuss strategic research and development findings in the palm oil industry and capitalising on recent technology findings that will change the industry.
The MPOB will be asked by the Foreign Ministry to counter a ban on a sustainable palm oil magazine advertisement entitled “Palm Oil: The Green Answer”, by UK’s Advertising Standards Agency for alleged misleading claims. The agency took offence at the advertisement’s claim that palm oil “puts minimal strain on the environment” which it stressed could not be substantiated and therefore should not be repeated.
Indonesia Palm Oil News
PT Astra Agro Lestari (AALI.JK) withdrew 6,000 metric tons of CPO in an auction as bids were lower than the offer prices of IDR6,285-IDR6,575/kg. Another auction is expected on Friday.
PT Perkebunan Nusantara sold 8,500 metric tons of CPO in a government auction. A further 3,000 metric tons was withdrawn as bids were lower than the offer prices of IDR6,283-IDR6,423/kg.
World Palm Oil News
The Malaysian Palm Oil Association (MPOA) and the Gabungan Pekebun Kecil Indonesia (GAPKI), both organisations representing oil palm growers, have withdrawn their objection to the mandatory introduction of greenhouse gas (GHG) criteria under the production certification standards by the Roundtable on Sustainable Palm Oil (RSPO). The criteria prevent growers from using planting methods that releases GHG into the environment, such as planting on peatland.
South American and African oil palm producers, which form the Rest of the World chapter of RSPO, have offered to be the first participants of the proposed GHG voluntary scheme[...]
For more in depth Palm Oil industry news, live market talk and price reports, Upgrade to Palm Oil HQ Professional.
More Recent Palm Oil News 
- Crude Palm Oil Ends Up On Weekend Short Covering; Upside Limited
- Crude Palm Oil Recovers Late On Short Covering
- Crude Palm Oil Ends Down As Demand Prospects Weaken
- Crude Palm Oil Rises Slightly; Weak Demand Limits Upside
- Crude Palm Oil Ends Up On South America Crop Worries
- Crude Palm Oil Rises On Pre-Holiday Short-Covering
- Crude Palm Oil Falls Due To Bearish Export Outlook
- Crude Palm Oil Ends Higher On South America Weather
- Crude Palm Oil Ends Down On Profit Taking; USDA Report In Focus
- Crude Palm Oil Rises In Light Trade; USDA Data In Focus
- Crude Palm Oil Steady; South America Weather May Underpin
- Crude Palm Oil Ends Up In Light Trade; Fresh Cues Awaited
- Crude Palm Oil Ends Up On Weather Concerns; More Gains Likely
- Crude Palm Oil Ends Down On Profit Taking, Europe Worries
- CPO Ends Unchanged; May Slip Toward MYR3,200 After Recent Rally
PRO Palm Oil Live Market News
- China Soybean Futures Rise A Tad On South America Output Worries
- China Dalian Commodity Exchange Grain Stocks, Feb 07
- China Dalian Grain Futures Closing Prices, Volume
- Asia-Pacific Commodities Events Calendar
- Southeast Asia Palm Oil Weather – Feb 6
- European Veg Oil PM Palm Oil & Lauric Oil Prices – Feb 6
- European Veg Oil AM Palm Oil & Lauric Oil Prices – Feb 6
- India Commodity Prices Including Palm Oil – Agriculture
- China January Soybean Imports Likely 4.86 Mln Tons -Ministry
- SUBSCRIBERS: No Asian CPO Closing Comment Monday, Tuesday
- China Soybean Futures Hit 3-Month High On Strong U.S. Jobs Data
- China Dalian Commodity Exchange Grain Stocks, Feb 06
- China Dalian Grain Futures Closing Prices, Volume
- SUBSCRIBERS: No Malaysian Palm Oil AM, PM Cash Market Prices Mon-Tue
- Asia-Pacific Commodities Events Calendar
