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Palm up most in four weeks on weaker ringgit, strong soyoil JAKARTA: Malaysian palm oil made its biggest gains in four weeks on Thursday, buoyed by a weakening ringgit, strong soy oil markets, and more trades to clear positions ahead of the end-of-month rollover."The market is up today on the back of soybean oil," said a trader with a foreign commodities brokerage in Kuala Lumpur, adding that the weakening of the Malaysian ringgit against the US dollar also provided support.The ringgit retreated 0.32 percent to 3.2715 against the dollar on Thursday after three days of gains. A weaker ringgit makes palm oil more attractive for international buyers as it makes the edible oil cheaper for traders holding dollars. Traders were also clearing near-month positions and entering the active month, said another trader at a foreign commodities brokerage in Kuala Lumpur, adding that positions needed to be cleared by end of the month or traders would risk a drop in liquidity. "Rollover ...

NY cocoa to test support at $3,064 SINGAPORE: New York December cocoa is expected to test support at $3,064 per tonne, a break below which will lead to a further loss towards $3,022.Support is provided by the 23.6 percent Fibonacci projection level of an upward wave c that developed from the Oct. 14 low of $3,022. This support continued to work even after the completion of this wave.A consolidation has been triggered and shaped into a bearish triangle, which may turn out ...
LME copper to test support at $6,604 SINGAPORE: LME copper is expected to test support at $6,604 per tonne, a break below which will lead to a further loss to $6,530.The rebound from the Oct. 17 low of $6,530 has completed and the preceding downtrend resumed, as the rebound failed to extend far beyond resistance at $6,699, the 86.4 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992.Copper has pierced below support at ...
Palm oil to test resistance at 2,178 ringgit SINGAPORE: Palm oil is expected to test a resistance at 2,178 ringgit per tonne, as it has overcome a barrier at 2,150 ringgit.The barrier was identified as the 23.6 percent Fibonacci retracement on the rise from the Sept. 2 low of 1,914 ringgit to the Oct. 1 high of 2,223 ringgit. Driven by a wave (c), palm oil may break the resistance at 2,178 ringgit, the 14.6 percent level and rise further towards 2,223 ringgit.A ...
Asia cocoa butter ratios hit 14-month low on high prices, stocks JAKARTA: Asian cocoa butter ratios are trading at their lowest in more than 14 months as the market faced pressure from high butter prices, high powder stocks and sluggish chocolate consumption, traders said.Butter ratios, a key indicator of demand, were quoted as low as 2.2 times London futures, their lowest since early August 2013, although there were offers at 2.25 times. Two weeks ago, ratios stood at 2.28 to 2.35 times futures.Cocoa beans are processed ...
Thai govt to auction 207,899 tonnes of rice next week BANGKOK: Thailand will offer to sell 207,899 tonnes of rice from state stockpiles next week, a Commerce Ministry official said on Tuesday.The tender for sale will open on Oct. 28 at the foreign trade department after the announcement of eligible bidders the same day.Thailand has stockpiled around 18 million tonnes of rice, accumulated under an intervention scheme by the government of Prime Minister Yingluck Shinawatra who was ousted by the army in May. An audit ...
China's implied oil demand hits 7-month top in Sept BEIJING: China's implied oil demand in September jumped 6.2 percent from levels seen in August to hit a seven-month peak, as crude runs soared to their second highest point this year.A rise in demand from the world's top energy consumer could support crude prices that have plunged 23 percent so far in 2014 amid an amply supplied world market, although a slower global economic growth is expected to keep a lid on gains.Data on Tuesday ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln