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No. 15, Level 5-13, Persiaran Perdana, Presint 2, 62654 Wilayah Persekutuan Putrajaya
BERITA AGRIKOMODITI 2024
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KUALA LUMPUR/MUMBAI: Malaysia's palm oil stocks at the end of March dropped to their lowest in 10 months as a jump in exports offset a rebound in production, the industry regulator said on Monday.
The reduction in stocks in Malaysia, the world's second-largest palm oil producer after Indonesia, would help in supporting benchmark futures, which rose to a one-year high earlier this month.
Malaysia's palm oil stocks at the end of March fell 10.68% from the previous month to 1.71 million metric tons, their lowest since May, data from the industry regulator the Malaysian Palm Oil Board (MPOB) showed.
Crude palm oil (CPO) production gained 10.57% from February to 1.39 million tons, while palm oil exports ticked up 28.61% to 1.32 million tons, the MPOB said.
A Reuters survey forecast March inventories at 1.79 million tons, a 6.65% decline from the previous month, with output at 1.38 million tons and exports at 1.23 million tons.
The MPOB report is bullish for the market, Anilkumar Bagani, research head of vegetable oils broker Sunvin Group said.
"The CPO stocks are depleting fast, and they could fall further by end of April. Malaysian output could drop in the first half of April because of Ramadan holidays, while exports during the period were higher than the last month," he said.
The CPO stocks at the end of March fell to 797,974 tons, the lowest since March 2022, the MPOB data showed.
As soybean oil exports from South America are set to increase in the coming months, palm oil exports could come under pressure, a New Delhi-based trader said.
This is because soybean oil is trading at a discount to palm oil, which will cap palm oil prices despite falling stocks, the trader said.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for March (volumes in tons): - Reuters
https://www.thestar.com.my/business/business-news/2024/04/15/malaysia039s-palm-oil-stocks-fall-to-10-month-low-as-exports-surge
Sumber : The Star
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KUALA LUMPUR: Malaysia's palm oil stocks at the end of March fell 10.68 per cent from the previous month to 1.71 million metric tons, data from the industry regulator showed on Monday.
Crude palm oil production gained 10.57 per cent from February to 1.39 million tons, while palm oil exports ticked up 28.61 per cent to 1.32 million tons, said the Malaysian Palm Oil Board (MPOB).
A Reuters survey forecast March inventories at 1.79 million tons, a 6.65 per cent decline from the previous month, with output at 1.38 million tons and exports at 1.23 million tons. - Reuters
https://www.nst.com.my/business/corporate/2024/04/1038010/malaysia-end-march-palm-oil-stocks-fall-1068pc-says-mpob
Sumber : New Straits Times
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KUALA LUMPUR (April 15): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed weaker on Monday due to concerns over the rising output of the commodity, coupled with weaker demand.
Palm oil trader David Ng said the expectation of lower demand post-festivity weighed on sentiment despite the Malaysian Palm Oil Board (MPOB) reporting lower stock levels last month.
“Hence, we see support at RM4,150 a tonne and resistance at RM4,300,” he told Bernama.
According to the MPOB, Malaysia’s total palm oil stocks dropped 10.68% to 1.71 million tonnes in March 2024 from 1.92 million tonnes in February 2024.
At the close, the spot month April 2024 contract slid RM93 to RM4,405 a tonne, May 2024 shed RM94 to RM4,277 and June 2024 lost RM78 to RM4,204.
The July 2024 note narrowed by RM69 to RM4,141 a tonne while August 2024 was lower by RM65 to RM4,074 and September 2024 dropped RM61 to RM4,021 a tonne.
Total volume increased to 90,982 lots from Friday’s 66,678 lots, while open interest was lower at 272,031 contracts from 267,644 contracts previously.
The physical CPO price for April South slipped RM50 to RM4,460 a tonne.
https://theedgemalaysia.com/node/708007
Sumber : The Edge Malaysia
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KUALA LUMPUR (April 8): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the third straight day on Monday in line with the weaker rival soybean oil as well as palm olein futures on the Dalian Commodity Exchange, which weigh on market sentiment.
“We see support at RM4,200 a tonne and resistance at RM4,400 a tonne,” said palm oil trader David Ng.
Meanwhile, Mumbai-based Sunvin Group commodity research head Anilkumar Bagani told Bernama the focus has shifted to the Malaysian Palm Oil Board's (MPOB) March data for exports, production and stock levels, which will be delayed than usual as it will be released on April 15 due to the upcoming Hari Raya holidays.
Citing the MPOB previews, he said the Malaysian palm oil end-March inventories are seen in the range of 1.69 million tonnes to 1.79 million tonnes.
Malaysia’s total palm oil stocks fell 5% to 1.92 million tonnes at end-February 2024 from 2.02 million tonnes in January 2024, the MPOB said last month.
At the close, the spot month April 2024 contract fell RM40 to RM4,514 a tonne, May 2024 erased RM41 to RM4,382 a tonne, June 2024 decreased by RM48 to RM4,295 a tonne, and July 2024 went down RM53 to RM4,220 a tonne.
August 2024 declined RM56 to RM4,142 a tonne and September 2024 dipped RM57 to RM4,077 a tonne.
Total volume fell to 67,914 lots from Friday’s 71,980 lots, while open interest slipped to 265,695 contracts from 268,274 contracts previously.
The physical CPO price for April South was RM40 lower at RM4,530 a tonne.
https://theedgemalaysia.com/node/707440
Sumber : The Edge Malaysia
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KUALA LUMPUR, April 6 (Xinhua) -- Malaysia's natural rubber production decreased by 2 percent to 29,691 tons in February as compared to 30,287 tons in January, official data showed Friday.
The Department of Statistics Malaysia said in a statement that the production of natural rubber increased by 9.1 percent year on year, from 27,209 tons one year ago.
Meanwhile, total stocks of natural rubber in February increased by 11.8 percent month on month to 229,719 tons.
Exports of Malaysia's natural rubber also increased by 27.8 percent month on month to 55,082 tons in February.
China remained as the main destination for natural rubber exports which accounted for 52.3 percent of total exports in February, followed by Germany (8.9 percent), the United Arab Emirates (6 percent), the United States (4.2 percent) and India (3.3 percent).
Gloves were the main exports of rubber products with a value of 1.09 billion ringgit (230 million U.S. dollars) in February, an increase of 7 percent from January.
https://english.news.cn/20240406/af0ae4a3979d4e279ee7b5b339b8f96c/c.html
Sumber : English News