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    <title>Business Recorder - Markets - Commodities</title>
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    <copyright>Copyright 2026</copyright>
    <pubDate>Thu, 13 Aug 2026 14:17:19 +0500</pubDate>
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      <title>Palm at 10-day high as Japan nuclear fears ease</title>
      <link>https://www.brecorder.com/news/7919/palm-at-10-day-high-as-japan-nuclear-fears-ease</link>
      <description>&lt;p class="MsoPlainText"&gt;&lt;img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/mar/Palm-Oil.jpg" width="400" height="342" /&gt;KUALA LUMPUR: Malaysia's palm oil futures hit a ten-day high on Monday as traders hunted for bargains after a temporary easing of the nuclear crisis in quake-hit Japan.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;But gains were limited by lower Malaysian export data for the first 20 days of March, underscoring fears that global economy will still slow with this month's earthquake and tsunami hitting the world's No.3 economy.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"Exports were not great at all. The palm oil market is getting some support from higher crude oil and strength in Dalian Commodity Exchange," said a trader with a foreign commodities brokerage in Kuala Lumpur.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The benchmark June 2011 crude palm oil contract on Bursa Malaysia Derivatives rose as much as 1.2 percent to 3,489 ringgit ($1,143) a tonne, a level unseen since March 11. By midday the contract stood at 3,457 ringgit.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Overall volume stood at 7,492 lots at 25 tonnes each.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Exports of Malaysian palm oil products for March 1-20 fell 12.8 percent to 719,302 tonnes from 825,180 tonnes shipped during February 1-20, cargo surveyor Intertek Testing Services said on Monday.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The rise in palm oil comes as investors get reassured by reports of progress in repairs at a crippled Japanese nuclear power plant and crude oil towards $116 after western allies launched a military campaign against Libya.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Crude oil's gains, based on concerns that violence may compromise supplies, largely supported other vegetable oil markets.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Although US soyoil edged lower in Asian trade after notching strong gains last week on investors regaining their risk appetite, China's most active Sept. 2011 soybean oil contract gained 1 percent.  "Last week, China's Ministry of Agriculture said soybean planting areas is going to shrink 11 percent and production from Brazil is expected to be lower, giving market strength to move upward," said Shanghai-based oil analyst.  "Given the situation in Libya and the disaster in Japan, its hard to tell when market trading will stabilise. The market trend will get set after the USDA release planting data by the end of this month."&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Soy farmers in Brazil's top soy-growing state Mato Grosso are struggling to harvest in heavy rains that have left fields soggy and cut the price of grains which are too damp.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Estimates of US farmer planting intentions for 2011 crops are being closely watched as global supplies following disappointing harvests a year earlier.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;&lt;Center /&gt;&lt;b&gt;&lt;i&gt;Copyright Reuters, 2011&lt;/b&gt;&lt;/i&gt;&lt;br /&gt;&lt;/center&gt;&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/mar/Palm-Oil.jpg" width="400" height="342" />KUALA LUMPUR: Malaysia's palm oil futures hit a ten-day high on Monday as traders hunted for bargains after a temporary easing of the nuclear crisis in quake-hit Japan.</p>
<p class="MsoPlainText">But gains were limited by lower Malaysian export data for the first 20 days of March, underscoring fears that global economy will still slow with this month's earthquake and tsunami hitting the world's No.3 economy.</p>
<p class="MsoPlainText">"Exports were not great at all. The palm oil market is getting some support from higher crude oil and strength in Dalian Commodity Exchange," said a trader with a foreign commodities brokerage in Kuala Lumpur.</p>
<p class="MsoPlainText">The benchmark June 2011 crude palm oil contract on Bursa Malaysia Derivatives rose as much as 1.2 percent to 3,489 ringgit ($1,143) a tonne, a level unseen since March 11. By midday the contract stood at 3,457 ringgit.</p>
<p class="MsoPlainText">Overall volume stood at 7,492 lots at 25 tonnes each.</p>
<p class="MsoPlainText">Exports of Malaysian palm oil products for March 1-20 fell 12.8 percent to 719,302 tonnes from 825,180 tonnes shipped during February 1-20, cargo surveyor Intertek Testing Services said on Monday.</p>
<p class="MsoPlainText">The rise in palm oil comes as investors get reassured by reports of progress in repairs at a crippled Japanese nuclear power plant and crude oil towards $116 after western allies launched a military campaign against Libya.</p>
<p class="MsoPlainText">Crude oil's gains, based on concerns that violence may compromise supplies, largely supported other vegetable oil markets.</p>
<p class="MsoPlainText">Although US soyoil edged lower in Asian trade after notching strong gains last week on investors regaining their risk appetite, China's most active Sept. 2011 soybean oil contract gained 1 percent.  "Last week, China's Ministry of Agriculture said soybean planting areas is going to shrink 11 percent and production from Brazil is expected to be lower, giving market strength to move upward," said Shanghai-based oil analyst.  "Given the situation in Libya and the disaster in Japan, its hard to tell when market trading will stabilise. The market trend will get set after the USDA release planting data by the end of this month."</p>
<p class="MsoPlainText">Soy farmers in Brazil's top soy-growing state Mato Grosso are struggling to harvest in heavy rains that have left fields soggy and cut the price of grains which are too damp.</p>
<p class="MsoPlainText">Estimates of US farmer planting intentions for 2011 crops are being closely watched as global supplies following disappointing harvests a year earlier.</p>
<p class="MsoPlainText"><Center /><b><i>Copyright Reuters, 2011</b></i><br /></center></p>
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      <category>Markets</category>
      <guid>https://www.brecorder.com/news/7919</guid>
      <pubDate>Mon, 21 Mar 2011 06:11:05 +0500</pubDate>
      <author>none@none.com (Abdul Ahad)</author>
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