South Korea's Samsung To Establish Oil Palm Plantation In Indonesia

Palm Oil HQ Posted by Palm Oil HQ 36 days ago
Source: http://english.people.com.cn
Added 36 days ago - South Korea's largest company Samsung Group plans to develop a 25,000-hectare oil palm plantation and a biodiesel refinery in Riau province with an investment of up to 15 trillion rupiah (about 1.63 billion U.S. dollars).

Head of the Indonesian national team for biofuel development AlHilal Hamdi said the company had spent 1.5 trillion rupiah (about 163 million U.S. dollars) on acquiring the land and the factory.

"They bought the land recently and that was their first investment. The total investment will likely increase by 10 times," he was quoted by the Jakarta Post as saying Tuesday.

Hamdi said Samsung was expected to go online next year and produce 50,000 kiloliters of biodiesel per year.

However, Indonesia-based Kang Hyonghyun of Samsung C and T Corporation said he had yet to be informed of the plan.

Indonesia produces two types of biofuel -- bioethanol, made from cassava, sugarcane and sorghum; and biodiesel, made from castor and crude palm oil.

The country's annual biofuel production is currently 2 million kiloliters and is expected to grow to 5 million kiloliters by 2010.

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Latest Crude Palm Oil (CPO) Futures Prices (Hourly)

The Chart and table below show the latest Crude Palm Oil (CPO) Futures prices, as traded on the Bursa Malaysia Derivitives Exchange.


First trading session: Weekdays 10:30 a.m. to 12:30 p.m
Second trading session: Weekdays 3:00 p.m. to 6:00 p.m
Current Malaysian local time: 12:12:39 PM Thu, August 28th 2008

Palm Oil HQ Crude Palm Oil Futures Prices
1 USD = 3.3818 MYR Updated: 12:00:03 PM Thu, August 28th 2008
Month Open High Low Last Sett.p Change Volume O.P
Sep 20082,4372,4412,4372,4412,480-39131,466
Oct 20082,4622,4802,4622,4802,501-219512,503
Nov 20082,4622,4882,4522,4882,502-1467115,251
Dec 20082,4662,4902,4632,4902,504-14868,848
Feb 2009----2,518--572
Mar 2009-2,4652,520-2,189--0
0.00---2,50002,668-0
Jul 2009----2,511--2,374
Sep 2009---2,5510984-0
Nov 2009----2,507--424
Jan 2010----2,505--886
Mar 2010----2,503--219
May 2010----2,503--1,114
Jul 2010----2,503--36

Historical Crude Palm Oil (CPO) Futures Prices

Average Historical Spot Settlement Price for Crude Palm Oil on the Bursa Malaysia Derivitives Exchange.

Palm Oil HQ Historical Crude Palm Oil Futures Prices