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Palm up for 4th day to 1-week high as Indonesian levy draws close KUALA LUMPUR: Malaysian palm oil futures rose to a one-week high on Wednesday, stretching gains into a fourth day as top grower Indonesia moved closer to laying on levies which may make its palm more expensive for importers.The Southeast Asian country plans to impose a levy of $50/tonne when the crude palm oil export tax is zero, where the money gained be used to fund new biodiesel subsidies and policies. The regulation will be implemented once approved by President Joko Widodo."Once the levy is in place, free-on-board crude palm oil prices will take a jump, so (futures) prices will be supported," said one palm trader with a foreign commodities brokerage in Kuala Lumpur.Market players say the levy will help boost confidence in the key producer to carry out its ambitious biofuel plans and soak up excess supplies of palm in the market."The levy is the precursor - it is seen ...

Iron ore rally pauses as China growth slows SINGAPORE: Iron ore futures in China steadied on Wednesday after a two-day rally and Singapore contracts retreated, with investors opting for caution amid festering concern over a market rout that has punished smaller miners.China's crude steel output dropped 1.7 percent to 200.1 million tonnes in the first quarter from a year ago as the world's No. 2 economy posted its slowest quarterly growth since 2009.A global glut stoked by low-cost miners from Australia and Brazil ...
Malaysia Q1 cocoa grinding drops 27.5pc on year KUALA LUMPUR: Cocoa processing in Malaysia fell 27.5 percent in the first quarter of 2015 to 45,208 tonnes, from 62,359 tonnes in the corresponding period a year ago, the Malaysian Cocoa Board (MCB) said in a statement on Wednesday.Cocoa grinding also fell 18.7 percent in the Jan-March period from the previous quarter in Malaysia, one of Asia's key cocoa grinders, the MCB said, without giving details.Copyright Reuters, 2015 ...
CBOT corn biased to test support at $3.71-1/4 SINGAPORE: CBOT May corn is biased to retest support at $3.71-1/4 per bushel, as indicated by its wave pattern, a Fibonacci projection analysis and a falling channel.The support is at the 76.4 percent Fibonacci projection level of a downward wave c that developed from the April 6 high of $3.90. Corn's failure to break this support has led to a bounce which was capped at a resistance at $3.74-3/4, the 61.8 percent level.The wave c ...
Palm pulls up for 3rd day of gains, Indonesian levies in focus KUALA LUMPUR: Malaysian palm oil futures ended higher on Tuesday, reversing some losses from the morning session on anticipation that tax levies from top producer Indonesia will soon be in place.Indonesia's finance minister will sign a regulation on Tuesday to impose a levy of $50 a tonne on exports of crude palm oil, a senior government official said, bringing the proposal closer to taking full effect. The regulation can only be implemented when approved by ...
South Korea's KFA seeks 55,000 tonnes soymeal for Oct SEOUL: South Korea's Korea Feed Association (KFA) is seeking 55,000 tonnes of soymeal from South America for October arrival via a tender, South Korean traders said on Tuesday.The tender will close at 5 p.m. (0800 GMT) on Tuesday, they said.Copyright Reuters, 2015 ...
Palm edges up on weak ringgit, gains in competing vegetable oils JAKARTA: Malaysian palm oil futures inched up on Monday as weakness in the ringgit and gains in competing vegetable oils encouraged buying.The benchmark June contract on the Bursa Malaysia Derivatives Exchange rose 0.14 percent to 2,131 ringgit ($575) a tonne. Total traded volume stood at 46,208 lots of 25 tonnes, above the usual 35,000 lots."The market is up on the back of the weak ringgit, better export prospects, strong soy oil and positive Dalian market," ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln