Category: Agriculture

Palm Oil Journal No.75/2014: Below RM2000?

Pretty much as predicted the benchmark October 2014 contracts of crude palm oil (CPO) dropped further by RM39 (1.8%) to RM2094 per ton on Bursa Malaysia Derivatives Friday (August 15) despite reports about plans from Indonesian lawmakers to slash foreign ownership of plantations to no more than 30%. The commodity has lost 27% since March 2014.

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Palm Oil Journal No.74/2014: New Low

The benchmark October 2014 contracts of crude palm oil (CPO) lost almost 2% to close at RM2133 per ton on Thursday (August 14) on Bursa Malaysia Derivatives. August contracts dropped 3% to RM2150, while November and December down RM40 and RM42 to RM2135 and RM2151 per ton respectively. October and November contracts were traded as low as RM2115 and RM2113 per ton respectively.

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Palm Oil Journal No.72/2014

The benchmark October contracts of crude palm oil (CPO) recovered RM9 to RM2185 per ton this morning after trading as low as RM2162 per ton. Interestingly, only seven out of 14 plantation companies listed on KLSE reporting higher output in July 2014 over July 2013. KL Kepong, for example, reported only 4.3% growth in the month.

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Japfa Singapore IPO & Indonesian Peers

Agriculture giant Japfa Ltd expects to raise US$158 million from an initial public offering (IPO) on the Singapore Exchange (SGX) mainboard. The company has yet to release its first half 2014 results, but peers (Charoen Pokphand Indonesia, Malindo Feedmill, and Sierad Produce) have posted mixed performance. They continue to report strong sales revenue growth, but profit margins squeezed significantly.

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Multiple Actions from Bumitama Agri

Bumitama Agri Ltd, a company listed on SGX with market capitalization of S$2.2 billion owned by Indonesian business group Harita and Malaysian IOI Corp, logged three interesting disclosures to the exchange and investors Thursday (August 7), including its plan to expand into downstream operations of crude palm oil, including biodiesel and oleochemicals.

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