PALM OIL WEEKLY PRICES ON           14th  - 20th  Aug   2013 3rd  Week
   
Prices in the domestic market traded firmer.
  CPO prices traded higher this week by RM57.50 to RM2,344.00 against RM2,286.50 attained the previous week. The highest and lowest traded prices were at RM2,400.00 and RM2,243.00 respectively. Price of RBD palm olein traded higher at US$766.50. Palm oil price traded higher mainly due to:
  • USDA’s announcement of a deeper-than-expected reduction to its earlier forecast for soyabean yield performance, which is likely to affect production.
     
  • Supported by news of good palm oil demand during the first 15 days of August and forecast of lower soyabean yield performance.
  • Boosted by strong palm oil exports performance in line with major buyer China P.R stocking-up ahead of the Mid-Autumn festival in September.
Crude palm oil exports duty (after partial duty exemption) for the month of  August, 2013.
  • With effect from 01/08/2013 – 31/08/2013, the CPO export duty payable is RM107.27/tonne.
Palm oil prices in Europe traded higher.
  • Crude palm oil price traded higher by US$25.00 to US$857.00. CPO discount vis-à-vis SBO narrowed to US$135.50 this week.
  • RBD palm olein price traded higher by US$8.00 to US$810.50 and was at a discount of US$182.00 against SBO.
 
WEEKLY PALM OIL PRICE PROFILE
  Daily   Prices Weekly Average
14/08/2013 15/08/2013 16/08/2013 19/08/2013 20/08/2013 Present Previous Diff (+/-)
1. LOCAL PHYSICAL PRICES (RM/TONNE)              
CPO (Lcl Deld) 2,309.50 2324.50 2348.50 2381.50 2380.50 2,344.00 2,286.50 57.50
PK (Ex-mill) 1,320.50 1336.50 1377.50 1393.50 1400.00 1,366.00 1,300.50 65.50
CPKO(Lcl Deld) 2,609.50 2645.00 2711.00 2785.50 2721.50 2,702.50 2,522.50 180.00
2. EXPORT PRICES (US$/TONNE)        
RBD P. Oil (Fob M'sia) 754.00 NT NT 770.00 NT 768.00 745.00 23.00
RBD P.Olein (Fob M'sia) 764.00 763.50 NT 784.50 NT 766.50 751.00 15.50
RBD P.Stearin (Fob M'sia) NT 702.50 NT NT NT 702.50 683.00 19.50
3. N.W. EUROPE PRICES (US$/TONNE)        
RBD P.Olein (Cif Rott) 810.00 785.00 810.00 825.00 822.50 810.50 802.50 8.00
RBD P. Oil (Cif Rott) 800.00 775.00 800.00 815.00 812.50 800.50 792.50 8.00
CPO (Cif Rott) 857.50 855.00 855.00 870.00 847.50 857.00 832.00 25.00
SBO (Dutch Fob Ex-Mill) 973.51 974.98 992.64 1,000.95 1,020.30 992.47 968.00 24.47
Sun Oil (Cif Rott) 942.50 942.00 952.50 960.00 952.50 949.90 940.50 9.40
RSO (Dutch Fob Ex-Mill) 986.75 997.53 1,004.63 1,011.63 1,004.19 1,000.95 984.50 16.45
RBD P.Stearin (Cif Rott) 750.00 755.00 752.50 760.00 755.00 754.50 755.00 -0.50
Tallow 1,180.00 1,180.00 1,180.00 1,180.00 1,180.00 1,180.00 1180.00 0.00
PKO (Cif Rott) 855.00 870.00 880.00 890.00 880.00 875.00 843.00 32.00
CNO (Cif Rott) 865.00 870.00 890.00 900.00 900.00 885.00 869.00 16.00
4. PRICE PREMIUM / DISCOUNT IN N.W EUROPE  (US$/TONNE)        
CPO/SBO -116.01 -119.98 -137.64 -130.95 -172.80 -135.47 -136.00 0.53
CPO/RSO -129.25 -142.53 -149.63 -141.63 -156.69 -143.95 -152.50 8.55
RBD P.Olein/SBO -163.51 -189.98 -182.64 -175.95 -197.80 -181.97 -165.00 -16.97
RBD P.Olein/Sun Oil -132.50 -157.00 -142.50 -135.00 -130.00 -139.40 -140.00 0.60
RBD P.Stearin/Tallow -430.00 -425.00 -427.50 -420.00 -425.00 -425.50 -425.00 -0.50
PKO/CNO -10.00 0.00 -10.00 -10.00 -20.00 -10.00 -26.00 16.00
5. FUTURES PRICES (TONNE)        
BMD CPO 3rd Month (RM) 2294.00 2320.00 2305.00 2338.00 2329.00 2317.20 2248.50 68.70
CBOT SBO 3rd Month (US$) 939.40 944.02 954.36 955.68 951.50 948.99 935.00 13.99
6. LANDED INDONESIA CPO PRICE IN MALAYSIA           
FOB Belawan US$ (Offered Price) 785.00 790.00 783.75 797.50 788.75 789.00 782.50 6.50
Landed Indonesia CPO (US$) 796.00 801.00 794.75 808.50 799.75 800.00 793.50 6.50
Landed Indonesia CPO (RM) 2604.11 2626.48 2605.99 2656.73 2639.57 2,626.58 2580.50 46.08
Premium/Discount Vs Lcl Dlvd CPO (RM)   294.61 301.98 257.49 275.23 259.07 277.68 305.00 -27.32
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