[ Back ]     [ Comments ]     [ Print ]

News Admin
 
Date
 16/02/2005
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Dow Jones
Headline
 MARKET TALK: MPOB Estimate Seen "Slightly Bearish"

(Dow Jones)--BMD trader says MPOB estimate showing a 1.8% rise inend-January stocks "slightly bearish" for prices as the market wasexpecting stocks to fall. "Besides, there is now talk that Februaryproduction may not drop as much as the 20% predicted by some, which meansthere will be further buildup in stocks this month," he says. All thesefactors point to revival of pressure on prices. Benchmark May contract nowat MYR1,315/ton, down MYR16/ton from Monday's close.Malaysia's palm oil exports in January fell 12% on month to 995,345 metrictons, the Malaysian Palm Oil Board said Tuesday.MPOB said January palm oil output also fell 12% on month, to 1.15 milliontons, while end-January stocks rose 1.8% on month to 1.52 million tons.Traders said the figures were mostly in line with market expectations.Last week, the Malaysian Palm Oil Association, a lobby group of bigplantation companies, had estimated a 13% drop in January production.The following are details of the January crop data issued by the MalaysianPalm Oil Board:

JanuaryDecember Change(All figures are inmetric tons)

Crude Palm Oil Output 1,151,956 1,313,679Dn 12%Palm Oil Exports 995,3451,130,656 Dn 12%Palm Kernel Oil Exports 84,41782,577 Up 2.2%Palm Oil Imports 38,64433,355 Dn 16%Closing Stocks 1,516,0011,489,788 Up 1.8%Crude Palm Oil 838,726890,781 Dn 5.8%Processed Palm Oil 677,275 599,007Up 13%


ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7803 5544 || Fax : 603 - 7803 3533