Concerns over unrest keep palm oil stable<\/p>\n
LONDON (Reuters): Concerns over unrest in Indonesia served to
\nkeep the palm oil sector very firm in Europe yesterday, despite
\nslightly bearish data from private forecaster Ivan Wong.<\/p>\n
Malaysia's palm oil production is estimated to have risen by 2
\npercent to 611,000 tons in April from March, private forecaster
\nIvan Wong said.<\/p>\n
End-April stocks were estimated at 595,000 tons against the
\nPalm Oil Registration and Licensing Authority's (PORLA) 623,989
\ntons at end-March.<\/p>\n
"The Ivan Wong data had had very little impact. The market is
\nstill almost completely focused on the situation in Indonesia,"
\none trader said.<\/p>\n
Another firm close on the Malaysian palm oil futures market
\nalso underpinned the European market.<\/p>\n
At midday the European palm oil sector was US$$5 to $10 firmer
\nthan Thursday's close. The majority of the reported trade was
\nonce again confined to palm olein, which saw $727.50 and $720
\npaid for June, $710 up to $717.50 for July\/Sept., and $692.50 for
\nOct.\/Dec.<\/p>\n
Other palm oil business saw $710 paid for crude palm oil,
\nwhile RBD palm oil changed hands for $682.50 for July\/Sept.<\/p>\n
The soft oils supported by the palm oils, received an
\nadditional boost from a firm close on the back of commodity fund
\nbuying on the Chicago soybean oil futures on Thursday.<\/p>\n
At midday the soft oil were one to two guilders firmer. Only
\nrape oil attracted any trade, with 135 guilders paid for both
\nAug.\/Oct. and Nov.\/Jan.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/concerns-over-unrest-keep-palm-oil-stable-1447893297",
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"sponsor": "Okusi Associates",
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