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News Admin
 
Date
 20/01/2005
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Dow Jones
Headline
 MARKET TALK

19/1/05Indonesia Palm Oil Lower On Weak Demand(Dow Jones)--Indonesia palm oil prices lower amid sluggish buyinginterest as weak soyoil, excess supply continued to drive prices lower.CPO in Medan was traded lower at IDR3,310/kg vs IDR3,350/kg yesterday."Buyers aren't keen to buy. They see that there's still room for theprices to go lower," says trader in Medan. RBD Olein in Jakarta was tradedlower at IDR3,700/kg. It was offered at IDR3,750/kg yesterday, but notrades were reported.

Mistry Sees Biofuels Limiting CPO Mkt Falls(Dow Jones)--Traders citing influential London-based market analystDorab Mistry, who is in India for industry conference, as saying that palmoil prices expected to stay weak because of supply pressures, but downsidelikely limited because of biodiesel demand. Mistry cited as saying withcrude oil prices still relatively high, weak edible oil prices likely toattract demand for use as biodiesel, especially in Europe. Traders agreewith Mistry's observations but say his comments unlikely to have muchimmediate impact on market, as he's made similar remarks recently.

Malaysian Cash Palm Oil Flat; Mkt Quiet(Dow Jones)--Malaysian cash palm oil prices flat amid cautioussentiment, slow trading. April/May/June RBD palm olein offered unchangedat $372.50; some trades reported overnight after sharp declines yesterdayattracted some buying interest; but choppy CPO futures market todayprompting buyers to withdraw to sidelines again to wait for clearer trend,traders say. January CPO offered MYR5 lower at MYR1,320.

Soybeans Seen At $5 Soon; Negative For Oils(Dow Jones)--Analysts, traders expect March soybean futures (whichtouched low of $5.12 1/2 overnight) to fall to $5.00 this week. Potentialrecord Brazilian crop, concerns over slowing China demand for US soybeanslikely to weigh on CBOT soybeans. Any downtrend in soybean futures likelyto spill over to products including soyoil, which in turn, negative forpalm oil prices, traders say.


ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533