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Palm oil neutral in 2,164-2,195 ringgit range SINGAPORE: Palm oil looks neutral in a range of 2,164-2,195 ringgit per tonne, and an escape will point a direction.The range has been formed by the 50 percent and the 76.4 percent Fibonacci retracements on the fall from 2,223 ringgit to the Oct. 16 low of 2,104 ringgit. A drop below 2,164 ringgit will be extended to 2,132 ringgit, the 23.6 percent retracement.However, the bias seems to be towards the upside, which means palm oil may rise above 2,195 ringgit and then gain further to 2,223 ringgit.Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.Copyright Reuters, 2014 ...

Brent falls towards $85 amid supply glut, lower price forecasts TOKYO: Brent crude extended its decline to a third day, dropping towards $85 a barrel on Tuesday, still under pressure from a Goldman Sachs report that slashed the investment bank's oil price forecasts amid a global supply glut.Citing rising production and insufficient demand, Goldman Sachs on Sunday cut its forecast for Brent to $85 a barrel from $100 for the first quarter of 2015 and reduced its projection for US crude to $75 from $90.Analysts ...
Malaysia to roll out B7 biodiesel plan from Nov - official KUALA LUMPUR: Malaysia will increase the amount of palm oil in biodiesel from 5 percent to 7 percent from November, as the world's No.2 palm grower tries to reduce stockpiles and prop up prices that have fallen nearly 20 percent this year.Malaysia was also studying the possibility of again raising the mandate for palm oil in diesel to 10 percent, plantation industries and commodities minister Douglas Uggah Embas said on Tuesday, although he not give ...
China's gold imports from Hong Kong jump to 6-month high in Sept SINGAPORE: China's net gold imports from main conduit Hong Kong jumped to a six-month high in September as the world's biggest consumer stocked up ahead of its National Day holiday.The annual National Day holiday observed in the first week of October is a time when millions of people travel and spend more than usual. It also marks a pick-up in weddings, boosting demand for gold jewellery.Net imports from Hong Kong to the mainland rose to ...
India to consider raw sugar export incentive after Oct 29 NEW DELHI: India will consider extending the incentives for raw sugar exports after Oct. 29 when leading cane growing states forecast their sugar output for the new season beginning October, two government sources said on Monday."The cane commissioners of leading cane growing states will present their estimates on Oct. 29 and that will set the ball rolling for a decision on raw sugar export subsidy in 2014/15," a government official with direct knowledge of the ...
Bangladesh to export 50,000 T rice to Sri Lanka DHAKA: Bangladesh will export 50,000 tonnes of rice to Sri Lanka for the first time under a government-to-government deal at $450 a tonne including cost, freight and insurance, Food Minister Mohammad Karmul Islam said on Monday.Strong output and good government stocks have prompted the Bangladesh government to initiate the plan to export rice.A team from Sri Lanka will come soon to Dhaka to settle the deal, said a food ministry official, who asked not to ...
NY coffee may end fall around $1.8690 SINGAPORE: New York December coffee may end its current fall around a support at $1.8690 per lb, and then start a decent rebound.The support is provided by the 61.8 percent Fibonacci retracement on the rise from the July 15 low of $1.6310 to the Oct. 13 high of $2.2545. A five-wave cycle from $2.2545 is bottoming, as its five component waves have unfolded one by one.Resistance is at $1.9430, the 50 percent retracement, a break ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln