SINGAPORE, Aug 14 (Reuters) – Wilmar (WLIL.SI: Quote, Profile, Research, Stock Buzz), the world’s largest listed palm oil firm, said on Thursday its quarterly net profit more than tripled on high palm oil prices, but warned of moderating prices and a more challenging environment ahead.
Singapore-headquartered Wilmar International Ltd said easing demand for palm oil due to a slowing global economy, coupled with ample supply from Malaysia and Indonesia, would keep prices subdued for the rest of the year.
It is still optimistic its full-year performance will be “satisfactory”, helped by a strong showing from its China operations, the company said in a statement.
Commodity prices, including palm oil, have been falling since early July. Malaysia’s benchmark contract KPOc3 for palm oil futures was quoted at 2,620 ringgit ($788) per tonne on Thursday, down 42 percent since a record 4,486 ringgit a tonne in March.
Wilmar, which owns oil palm plantations and runs milling, crushing, refining and processing plants in Indonesia and Malaysia, earned $331.7 million in the April-June quarter, compared with $101.5 million a year ago, thanks to improved margins and buoyant palm oil prices.
The company made its trading debut in Singapore in August 2006 following a reverse takeover of Ezyhealth Asia Pacific.
Last year, it completed the purchase of the palm plantation and edible oils businesses belonging to Malaysia’s Kuok Group, a move which doubled its plantation landbank to about 570,000 hectares (1.4 million acres)
More Recent Palm Oil News 
- Crude Palm Oil Higher; Further Gains Likely N/T
- Crude Palm Oil Ends Up On Bargain Hunting; Further Gains Likely Friday
- Crude Palm Oil Ends Down; Prices Could Be Bottoming -IOI Exec
- Crude Palm Oil Eases; Lack of Follow-Through Buying
- Crude Palm Oil Ends Tad Lower; Industry Data Awaited
- Crude Palm Oil Ends Up; Exports Seen Rising in Coming Months
- Crude Palm Oil Ends Up As Ringgit Eases; Limited Upside
- Crude Palm Oil Ends Down; Improving Soy, Palm Crop Prospects Weigh
- Crude Palm Oil Ends Up; Likely Lower Stocks Underpin
- Crude Palm Oil Ends Higher; Exports Expected To Rise
- Crude Palm Oil 0.7% Higher On Technical-Buying, Exports
- Crude Palm Oil Ends up 0.8% on Bargain Hunting
- CPO Falls To 4-Month Low On Weak Demand
- Crude Palm Oil Ends up 1.5% on Bargain Hunting
- Crude Palm Oil Ends Flat; Subdued Physical Demand Cap
PRO Palm Oil Live Market News
- European veg oil AM, Palm Oil & Lauric Oil Prices – May 22
- Rotterdam Soybean Prices – May 22
- European veg oil AM, Soft Oil Prices – May 22
- CBOT Grain/Oilseeds Preliminary Volume/Open Interest – May 22
- Malaysian PM Cash Market Prices for Palm Oil – May 22
- Crude Palm Oil Higher; Further Gains Likely N/T
- China Soybean Futures Tad Up; Edible Oils Support
- China Dalian Commodity Exchange Grain Stocks, May 22
- China Dalian Grain Futures Closing Prices, Volume
- Malaysian AM Cash Market Prices for Palm Oil -May 22
- Crude Palm Oil (CPO) May Nudge Up; Rangebound Trade Tipped
- Southeast Asia Palm Oil Weather – May 21
- European veg oil PM, Palm Oil & Lauric Oil Prices – May 21
- European veg oil PM, Soft Oil Prices – May 21
- Rotterdam Soybean Prices – May 21
