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| PALM OIL WEEKLY PRICES ON 13th Aug- 19th Aug 2008 | 3rd Week | |||||||||||||||||||||||||||||
| Prices in the domestic and export markets traded easier. | ||||||||||||||||||||||||||||||
| Crude palm oil price traded lower, down by RM222.50 to RM2,564.50, with the highest traded price at RM2,700.00. RBD palm olein traded lower by US$80.00 to US$869.00. Palm oil prices were traded easier due to: | ||||||||||||||||||||||||||||||
| n | BMD CPO futures drop to a twelve-month low following aggressive selling pressure and the overall bearish sentiment in the world edible and crude oils markets. | |||||||||||||||||||||||||||||
| n | The strength of the US dollar and the favourable US Midwest weather for pod-filling soyabean contributed to the long-liquidation and hedge selling pressure on the CBOT soyabean market. | |||||||||||||||||||||||||||||
| n | Bearish news that India and China had cancelled or renegotiated around 800,000 tonnes of Malaysia and Indonesia palm oil deals in the past few weeks as prices slump, added fuel to the bearish sentiment. | |||||||||||||||||||||||||||||
| n | Positive SGS exports data for the first 15 days of August, up by 32.6% to 643,324 tonnes failed to stimulate the market. | |||||||||||||||||||||||||||||
| Crude palm oil export duty. | ||||||||||||||||||||||||||||||
| n | For the current week 18/08/2008 – 24/08/2008, the CPO export duty payable is RM531.91/tonne. | |||||||||||||||||||||||||||||
| Palm oil prices in Europe traded easier. | ||||||||||||||||||||||||||||||
| n | Crude palm oil price traded lower by US$71.00 to US$845.50. CPO discount vis-à-vis SBO narrowed to US$441.00 this week. | |||||||||||||||||||||||||||||
| n | RBD palm olein traded lower by US$64.00 to US$924.00 and was at a discount of US$362.50 against SBO. | |||||||||||||||||||||||||||||
| WEEKLY PALM OIL PRICE PROFILE | ||||||||||||||||||||||||||||||
| Daily Prices | Weekly Average | |||||||||||||||||||||||||||||
| 13/08/2008 | 14/08/2008 | 15/08/2008 | 18/08/2008 | 19/08/2008 | Present | Previous | Diff (+/-) | |||||||||||||||||||||||
| 1. LOCAL PHYSICAL PRICES (RM/TONNE) | ||||||||||||||||||||||||||||||
| CPO (Lcl Deld) | 2,606.00 | 2635.00 | 2471.00 | 2459.00 | 2524.50 | 2,564.50 | 2,787.00 | -222.50 | ||||||||||||||||||||||
| PK (Ex-mill) | 1,465.50 | 1485.50 | 1495.50 | 1404.50 | 1449.50 | 1,459.00 | 1,479.00 | -20.00 | ||||||||||||||||||||||
| CPKO(Lcl Deld) | 3,076.00 | 3128.50 | 3089.00 | 3083.00 | 3059.00 | 3,090.00 | 3,102.00 | -12.00 | ||||||||||||||||||||||
| 2. EXPORT PRICES (US$/TONNE) | ||||||||||||||||||||||||||||||
| RBD P. Oil (Fob M'sia) | 867.50 | 861.00 | 817.50 | 817.00 | 830.00 | 820.00 | 921.50 | -101.50 | ||||||||||||||||||||||
| RBD P.Olein (Fob M'sia) | 894.50 | 892.50 | 850.00 | 848.00 | 870.00 | 869.00 | 949.00 | -80.00 | ||||||||||||||||||||||
| RBD P.Stearin (Fob M'sia) | 682.50 | 675.50 | 638.50 | 625.00 | 640.00 | 658.50 | 746.00 | -87.50 | ||||||||||||||||||||||
| 3. N.W. EUROPE PRICES (US$/TONNE) | ||||||||||||||||||||||||||||||
| RBD P.Olein (Cif Rott) | 950.00 | 952.50 | 900.00 | 920.00 | 897.50 | 924.00 | 988.00 | -64.00 | ||||||||||||||||||||||
| RBD P. Oil (Cif Rott) | 915.00 | 910.00 | 865.00 | 890.00 | 865.00 | 889.00 | 955.50 | -66.50 | ||||||||||||||||||||||
| CPO (Cif Rott) | 865.00 | 870.00 | 812.50 | 845.00 | 835.00 | 845.50 | 916.50 | -71.00 | ||||||||||||||||||||||
| SBO (Dutch Fob Ex-Mill) | 1,275.57 | 1,298.84 | 1,252.03 | 1,274.84 | 1,330.65 | 1,286.39 | 1271.00 | 15.39 | ||||||||||||||||||||||
| Sun Oil (Cif Rott) | 1,250.00 | 1,320.00 | 1,350.00 | 1,340.00 | 1,320.00 | 1,316.00 | 1336.00 | -20.00 | ||||||||||||||||||||||
| RSO (Dutch Fob Ex-Mill) | 1,327.79 | 1,342.08 | 1,299.00 | 1,330.84 | 1,352.83 | 1,330.51 | 1346.00 | -15.49 | ||||||||||||||||||||||
| RBD P.Stearin (Cif Rott) | 750.00 | 760.00 | 715.00 | 725.00 | 710.00 | 732.00 | 782.00 | -50.00 | ||||||||||||||||||||||
| Tallow | 1,005.00 | 1,005.00 | 1,005.00 | 1,005.00 | 1,005.00 | 1,005.00 | 1085.00 | -80.00 | ||||||||||||||||||||||
| PKO (Cif Rott) | 1,030.00 | 1,060.00 | 1,020.00 | 1,050.00 | 1,060.00 | 1,044.00 | 1033.00 | 11.00 | ||||||||||||||||||||||
| CNO (Cif Rott) | 1,120.00 | 1,125.00 | 1,095.00 | 1,120.00 | 1,145.00 | 1,121.00 | 1170.00 | -49.00 | ||||||||||||||||||||||
| 4. PRICE PREMIUM / DISCOUNT IN N.W EUROPE (US$/TONNE) | ||||||||||||||||||||||||||||||
| CPO/SBO | -410.57 | -428.84 | -439.53 | -429.84 | -495.65 | -440.89 | -353.50 | -87.39 | ||||||||||||||||||||||
| CPO/RSO | -462.79 | -472.08 | -486.50 | -485.84 | -517.83 | -485.01 | -429.50 | -55.51 | ||||||||||||||||||||||
| RBD P.Olein/SBO | -325.57 | -346.34 | -352.03 | -354.84 | -433.15 | -362.39 | -280.00 | -82.39 | ||||||||||||||||||||||
| RBD P.Olein/Sun Oil | -300.00 | -367.50 | -450.00 | -420.00 | -422.50 | -392.00 | -348.00 | -44.00 | ||||||||||||||||||||||
| RBD P.Stearin/Tallow | -255.00 | -245.00 | -290.00 | -280.00 | -295.00 | -273.00 | -303.00 | 30.00 | ||||||||||||||||||||||
| PKO/CNO | -90.00 | -65.00 | -75.00 | -70.00 | -85.00 | -77.00 | -137.00 | 60.00 | ||||||||||||||||||||||
| 5. FUTURES PRICES (TONNE) | ||||||||||||||||||||||||||||||
| BMD CPO Oct 2008 (RM) | 2548.00 | 2620.00 | 2453.00 | 2485.00 | 2430.00 | 2507.20 | 2705.00 | -197.80 | ||||||||||||||||||||||
| CBOT SBO Oct 2008 (US$) | 1,160.72 | 1153.24 | 1,107.26 | 1,161.82 | 1,158.30 | 1148.27 | 1129.00 | 19.27 | ||||||||||||||||||||||
| 6. LANDED INDONESIA CPO PRICE IN MALAYSIA | ||||||||||||||||||||||||||||||
| FOB Belawan US$ (Offered Price) | 782.50 | 797.50 | 757.50 | 762.50 | 742.50 | 768.50 | 854.50 | -86.00 | ||||||||||||||||||||||
| Landed Indonesia CPO (US$) | 797.50 | 812.50 | 772.50 | 777.50 | 757.50 | 783.50 | 869.50 | -86.00 | ||||||||||||||||||||||
| Landed Indonesia CPO (RM) | 2646.11 | 2707.25 | 2582.47 | 2616.29 | 2528.91 | 2,616.20 | 2871.00 | -254.80 | ||||||||||||||||||||||
| Premium/Discount Vs Lcl Dlvd CPO (RM) | 40.11 | 72.25 | 111.47 | 157.29 | 4.41 | 77.10 | 125.50 | -48.40 | ||||||||||||||||||||||
| Note : NT : No Transaction ; N.A : Not Available; PH : Public Holiday; UNQ : Unquote; | ||||||||||||||||||||||||||||||
| Source : MPOB Registration of Contracts, Oilworld, Reuters, BMD CBOT, Dow Jones News, Massey Company | ||||||||||||||||||||||||||||||