Malaysian palm oil futures were around MYR 4,090 per tonne after briefly hitting MYR 4,140 in the prior session, amid a further drop in crude oil prices and weakness in rival vegetable oils on the Chicago Board of Trade. Meanwhile, top buyer India's palm oil imports sank to a 9-month low in February as buyers reduced their palm oil orders to increase buying of sunflower oil. Still, the contracts remained near their highest level in over 7 months, with fresh data from the industry regulator indicating palm oil stocks at the end of February fell to their lowest level since July 2023 while production hit a 10-month low owing to unfavorable weather and a shortage of workers. At the same time, bets of robust demand sustained ahead of the Ramadan fasting month and Eid-al Fitr festival. On cargo surveyor data, shipments of Malaysian palm oil products for March 1-10 grew 6.2% to 325,543 tonnes from the same period in February, according to independent inspection company AmSpec Agri Malaysia.
Posted by calvintaneng > 11 hours ago | Report Abuse
Why can't Malaysia ask for up to Rm8,000 a MT??
Last time Saudi Arabian oil only sold for Usd3.00 a barrel After Opec form oil cartel they now sell Brent crude at Usd80 a barrel Imagine from Usd3.00 to Usd80.00
So can't Malaysia raise its cpo from Rm3,000 to only Rm8,000 MT which only up by not much compared to Opec raising its oil price
EngineeringProfit
16,512 posts
Posted by EngineeringProfit > 11 hours ago | Report Abuse
Msial boleh ke- you think the gomen so able like singapore? Unless you come here to be pm lah
SOLD 500 JTiasa @ $1.51 & $1.52. Partial RELEASE of some capital trapped since 2014. Shifting the funds to another fellow Sarawakian timber/plantation co. Important that I didn't lose to that OLD KONYY!
SOLD all my remaining JTiasa except for 200 shrs, @ $1.46 after pocketing the latest dividend & definitively escaping, with a small capital gain, the KonYY trap that so many others have fallen into! 🤗
Cash-printing machine stops printing today. Everything is going swimmingly for this company, operation-wise, relatively speaking. The company was able to sell much more than it produced last quarter, as announced. The coming quarterly EPS is likely to exceed 2sen. The EPS for FYE 2024 can touch or exceed RM0.20. Fingers crossed.
Operating cash flow per year of RM400m selling for RM1.4b. This has to be the cheapest share on klse. Market is still scared of any governance issue by management? If not, what else explains the deep discount to peers?
Divergence of short term share price and cpo price is happening, Jtiasa may be testing support @ MAV20 near 1.35 to correct oversold technical before rebounding.
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Posted by Save > 2024-03-11 18:15 | Report Abuse
Malaysian palm oil futures were around MYR 4,090 per tonne after briefly hitting MYR 4,140 in the prior session, amid a further drop in crude oil prices and weakness in rival vegetable oils on the Chicago Board of Trade. Meanwhile, top buyer India's palm oil imports sank to a 9-month low in February as buyers reduced their palm oil orders to increase buying of sunflower oil. Still, the contracts remained near their highest level in over 7 months, with fresh data from the industry regulator indicating palm oil stocks at the end of February fell to their lowest level since July 2023 while production hit a 10-month low owing to unfavorable weather and a shortage of workers. At the same time, bets of robust demand sustained ahead of the Ramadan fasting month and Eid-al Fitr festival. On cargo surveyor data, shipments of Malaysian palm oil products for March 1-10 grew 6.2% to 325,543 tonnes from the same period in February, according to independent inspection company AmSpec Agri Malaysia.