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Palm falls to more than 3-week low as crude oil slides KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in more than three weeks on Thursday, dragged by sliding crude prices and worries that bigger supplies of rival edible oils would snatch food and fuel demand away from palm.Brent crude for November delivery dropped to $82.72 a barrel, the lowest since November 2010, while US crude fell $1.01 to $80.77 a barrel, as growing concerns over the global economy stretched a four-month rout.Palm oil competes with the energy market for its increasing use as a renewable fuel."Energy demand took a hit," said a trader with a foreign commodities brokerage in Kuala Lumpur. "Energy prices are very, very bearish. The palm oil-gas oil spread is going down to $80-$90 levels, which is crazy."The spread between Malaysian crude palm oil and gasoil quoted in Singapore was a much wider $260 earlier in August.The benchmark January contract on the Bursa Malaysia Derivatives ...

NY sugar to fall to 16.36 cents SINGAPORE: New York March sugar is expected to fall to a support at 16.36 cents per lb, a break below which will lead to a further loss to 16.16 cents.The support is provided by the 50 percent Fibonacci retracement on the rise from the Sept. 23 low of 15.51 cents to the Oct. 9 high of 17.20 cents. Sugar has cleared a former support at 16.55 cents, the 38.2 percent retracement, and is heading towards ...
NY coffee to test support at $2.1310 SINGAPORE: New York December coffee is expected to test a support at $2.1310 per lb, with a good chance of breaking below this level and falling more to $2.0605.It is clear that a top has formed around a resistance at $2.2440, the 100 percent Fibonacci projection level of an upward wave c. Coffee has broken a support at $2.1790, the 86.4 percent level. The next support will be at $2.1310, the 76.4 percent level, which ...
Palm prices seen up from current levels by end-2014; oilseeds supply eyed KUALA LUMPUR: Palm oil futures may end the year 2 percent above current levels due to lower output in second-biggest producer Malaysia, but abundant supplies of rival oilseeds mean prices will still close down about 19 percent for the year, a Reuters poll showed.While a median survey of 14 planters, analysts and traders pegged prices at 2,161 ringgit ($660.05) per tonne for the end of this year, forecasts ranging between 1,900 ringgit and 2,600 ringgit ...
Iron ore futures stretch losses on global growth worries SINGAPORE: Iron ore futures in China and Singapore extended losses on Thursday, caught up in the weakness among other risk assets as worries over the outlook for the global economy mount.Oil prices fell to fresh four-year lows and Japanese stocks tumbled as investors shunned risks after recent weak data from the United States fueled worries over the world economy.The most-traded iron ore for January delivery on the Dalian Commodity Exchange was down 2.7 percent at ...
Spot gold targets $1,263 SINGAPORE: A bullish target at $1,263 per ounce has been established for spot gold as it has cleared resistance at $1,233.The strength of the rebound from the Oct. 6 low of $1,183.46 indicates it is against a big three-wave cycle that developed from the March 17 high of $1,391.76. A Fibonacci retracement analysis on the cycle reveals the rebound has extended above an earlier resistance at $1,233, the 23.6 percent level.The next resistance will be ...
LME copper to retest support at $6,604 SINGAPORE: LME copper is expected to test a support at $6,604 per tonne, a break below which will lead to a further loss to $6,524. The support is identified as the 114.6 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992. This wave seems to have resumed, following the sharp fall from the Oct. 14 high of $6,825. A drop to $6,596 may confirm both a ...

 



 
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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