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Palm prices must ease to cope with bumper edible oil supplies KUALA LUMPUR: Palm oil prices should ease towards 1,900 ringgit ($594) over the next few weeks in order to stay competitive and recapture market share from rival vegetable oils, leading analyst Dorab Mistry said on Monday, as prospects of bigger supplies looms.Benchmark palm prices were earlier predicted to range between 2,300-2,500 ringgit from end-June, but instead chalked up losses of more than 20 percent over July and August, and on Sept. 2 plunged to a March 2009 low of 1,914 ringgit.Mistry said the drop was caused by projections of record U.S. soybean crops alongside rising supplies of other oilseeds, as well as surprisingly strong crude palm output after an anticipated El Nino weather pattern in Asia did not materialize.Palm prices on the Bursa Malaysia Derivatives (BMD) have since pulled up to around 2,110 ringgit, helped by Malaysia's decision to scrap export duties on the crude grade for September and October.The ...

India's Aug vegoil imports hit record on soyoil surge NEW DELHI: India's vegetable oil imports in August touched a record 1.3 million tonnes, a trade body said, helped by the highest ever soyoil imports on expectations of a poor soybean harvest.The country's imports of soyoil were the highest in two decades at 350,373 tonnes in August, up 14.5 percent from the previous month.Traders said expectations of a lower soybean harvest after a poor start to the monsoon season in India led importers to contract ...
Gold near 8-month low on fears of hawkish Fed, weak physical buying SINGAPORE: Gold edged higher on Monday as Asian equities tumbled but the metal continued to struggle near an eight-month low due to weak physical demand and fears the Federal Reserve may signal an early interest rate increase at this week's policy meeting.The Fed meeting may be pivotal as it debates a potential overhaul of its guidance on interest rates and seeks to nail down a plan for quitting its extraordinarily easy monetary policy.Investors will parse ...
Gains in soy, robust exports lift palm to 1-month high KUALA LUMPUR: Malaysian palm oil futures rose to a one-month high on Monday, lifted by gains in US and China soyoil markets and a surge in exports of the tropical oil in the first half of the month.Overseas shipments of Malaysian palm oil between Sept. 1 and Sept. 15 rose 32 percent to 750,425 tonnes compared with the same period a month ago, data from cargo surveyor Intertek Testing Services showed.Demand for crude palm oil ...
NY sugar may drop to 13.43 cents SINGAPORE: New York October sugar may fall further to 13.43 cents per lb, driven by a powerful wave 3.This is the third wave of a five-wave cycle starting from the Aug. 22 high of 16.05 cents. The big drop on Sept. 12 indicates an acceleration of this wave. The support at 13.72 cents, the 300 percent level, looks very weak and may not hold the fall towards the 338.2 percent projection level at 13.43 cents.Resistance ...
NY coffee remains neutral in $1.81-$1.8650 range SINGAPORE: New York December coffee still looks neutral in a range of $1.81-$1.8650 per lb, and an escape will point a direction.The range has been formed by the 61.8 percent and the 50 percent Fibonacci retracements on the rise from the July 15 low of $1.6310 to the Sept. 2 high of $2.0995.A rise above $1.8650 could confirm a small bottom that formed around $1.81, and the 38.2 percent retracement at $1.9205 will be targeted. ...
China iron ore, steel bounce after losses; gains seen fragile SINGAPORE: Iron ore and steel futures in China jumped on Monday as firmer spot steel prices spurred a rebound from a recent string of losses, although the recovery is seen fragile amid growing signs of weakness in the world's No. 2 economy. There was a flurry of spot deals on trading platforms as sellers raised their price offers amid firmer futures markets. The most-traded iron ore for delivery in January on the Dalian Commodity Exchange ...

 



 
Index Closing Chg%
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln