13/10/04Palm Oil Discount Has Room To Widen(Dow Jones)--Narrow discount to soyoil suggests further downside roomfor palm oil prices; main product RBD palm olein at $50-$60 below soyoilcurrently. Unless discount widens back to around $100, may be difficultfor palm oil exports to match Sep levels; strong Sep demand largely due tohefty discount at that time, traders say.
Indonesia Palm Oil Dn Amid Bearish Sentiment(Dow Jones)--Indonesian cash palm oil prices weaker on Malaysiadeclines, bearish sentiment, traders say. CPO, FOB Kumai, offered inprivate tender at IDR3,665/kg, highest bid at IDR3,650; yesterday's offersat IDR3,750. RBD palm olein in Jakarta offered IDR50 lower at IDR4,300/kg.
Malaysia Palm Oil Products Dn; Refiner Buys(Dow Jones)--Products in Malaysian cash market down after soyoillosses, but declines cushioned by buying interest from major refiner atlower levels. RBD palm olein for Dec/Jan/Feb/Mar deliveries traded at$402.50. Trader in Singapore says too early to say if consumer demandimproving at lower levels as buying interest so far probably only forshort-covering. Nov RBD palm olein offered down $5 at $412.50. Dec alsodown $5 at $405.
Firm Malaysia Cash CPO May Boost Imports(Dow Jones)--Malaysian cash CPO prices firm as producers reluctant toreduce offers significantly despite pressure from falling soyoil; Oct CPO,local delivery, down MYR15 at MYR1,460; but producers' protectiveness overselling prices may just prompt refiners to import more CPO from Indonesia,where production said to be good and prices cheaper; Malaysia's Sep palmoil imports from Indonesia around 49,000 tons, Malaysian Palm Oil Boardsays.