Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   
 


Home > News

Strong CPO Prices Will Not Be Long

17.08.2010 10:34 "Agro Perspectiva" (Kyiv) The current strong crude palm oil (CPO) price rally is not expected to last long, says a research house. ECM Libra Investment Research says the price will see a retracement in coming weeks on factors such as negative export numbers or on the expectation that stock levels may rise by end of this month. "We feel that prices will continue to be externally driven by soy prices which have been trending up despite there being no fundamental drivers. «As such, we see the current price rally will likely see a retracement soon,» it said in its weekly review Monday ECM Libra said CPO stock levels dropped three per cent in July and believed the levels have bottomed out by now. Production will be on the rise from now and with August exports looking weak, it believed stock levels have a good chance of ticking up this month. This would likely see CPO prices normalising in coming weeks, it said. It said with Ramadan period arriving earlier this year, pre-stocking by Pakistan stepped up in July and offsetted 38 per cent month-on-month drop from China. It said exports to India also increased significantly due to festive season pre-stocking. As such, ECM Libra sees potential for exports to decline this month, as pre-stocking comes to a close (unless orders from China pick up). For this year, ECM Libra said it will likely look to revising up slightly its CPO average selling price of RM2,400 per tonne to RM2,600. Impact to target prices will be less than 10 per cent from this change, it said. It said positive and negative events to be watched in the near term will be the La Nina phenomenon, by how much wheat prices are going to rise and drive up soy bean prices and decline in CPO exports in post-festive season pre-stocking. La Nina is characterised by unusually cold ocean temperatures in the Equatorial Pacific compared to El Nino characterised by unusually warm ocean temperatures in the Equatorial Pacific. ECM Libra said July production numbers were fairly strong, with a seven per cent month-on-month increase, compared with 2.5 per cent rise from May to June. The general market expectation for July was weak production numbers (due to La Nina), but it turned out quite the opposite, it added.

Agro Perspectiva

< Jul frozen beef/veal output down 12.3%, to 1,700 MT All news for
17.08.2010
Australia - Beef exports jump 8% >

15.07.2024  
10:28 Decline of China Pork Imports Continues in 2024
08:20 Lower Prices Propel Mexico 2023/24 Soybean Meal Imports
13.07.2024  
10:15 China Imports of Major Feed Grains at Record for Oct-May period
12.07.2024  
01:08 Climate risks projected to affect fish biomass around the world's ocean, FAO report says
06.07.2024  
10:15 Global cereal production 2024 forecast scaled up and now set to exceed the 2023 level
10:01 FAO Food Price Index stable in June
03.07.2024  
12:31 World pear production for MY 2023/24 is projected up more than 275,000 tons to 25.2 million
12:23 U.S. wheat exports are forecast to rebound by more than a million tons in the 2024/25 marketing year
01.07.2024  
08:58 World apple production for MY 2023/24 is forecast to rise more than 700,000 tons to 83.7 million
08:39 World coffee production for 2024/25 is forecast to rebound 7.1 million bags
25.06.2024  
17:57 Central, Eastern and South-Eastern European banks report strengthening loan demand and improving profitability
17:05 Global Environment Facility approves $70 million to support FAO projects in 28 countries
24.06.2024  
04:15 Emergency brake triggered for oat imports from Ukraine
23.06.2024  
09:00 Colombia Production: Two Periods of Sharp Decline
19.06.2024  
15:35 World pear production for MY 2023/24 is projected up more than 275,000 tons to 25.2 million
10:35 India Apple Imports Forecast at a Record High
12.06.2024  
09:21 FAO Food Price Index slightly up in May: higher cereal and dairy prices offset easing sugar and vegetable oil quotations
03.06.2024  
14:04 Commission clarifies support for farmers in case of exceptional weather events
13:33 Digitalization: it is time to bridge the gap between urban and rural areas
22.05.2024  
18:25 Two years of Solidarity Lanes have brought the EU, Ukraine and Moldova closer together
21.05.2024  
08:10 Seven additional private sector leaders announce support for Antimicrobial Use Stewardship Principles in poultry, now includes over 40% of global poultry meat production
13.05.2024  
23:32 EU extends trade support to Ukraine for one more year
04:36 European Union corn is forecast at 18.0 million tons
11.05.2024  
18:55 2024/25 Grain Consumption Expands while Trade Moderates
18:47 Oilseeds Stocks Forecast to Reach Record Highs in 2024/25
06.05.2024  
09:17 The International Year of the Woman Farmer in 2026 Approved by the UN General Assembly, it will increase awareness of the crucial role women farmers play in agrifood systems
04.05.2024  
08:10 2024 wheat forecast trimmed
03.05.2024  
21:25 Rising international quotations for meat, cereals and vegetable oils offset drops for dairy and sugar
07:10 El Niño and La Niña: four crucial steps to build climate resilience
01.05.2024  
08:25 Acute hunger remains persistently high in 59 countries with 1 in 5 people assessed in need of critical urgent action
29.04.2024  
10:43 New CEO at BASF: Martin Brudermüller hands over to Markus Kamieth
25.04.2024  
09:45 Parliament approves a revision of the EUs common agricultural policy
23.04.2024  
16:23 MEPs approve trade support measures for Ukraine with protection for EU farmers
17.04.2024  
18:08 Ministry of Agrarian Policy and Food predicts this years harvest of grains and oilseeds at about 74 million tonnes
16.04.2024  
12:12 West Africa Cocoa Shortage Pushes Up Prices
11.04.2024  
23:48 U.S. Soybean Meal Exports Forecast at Consecutive Records in 2022/23 and 2023/24
23:10 EU Wheat Exports Challenged by Russias Growing Dominance
11:30 Country of origin of honey must be clearly visible on the label. EU honey traceability system to be developed
10.04.2024  
15:59 Commission starts setting up the Agriculture and Food Chain Observatory
15:33 Commission approves 2.2 billion German State aid scheme to support the decarbonisation of industrial processes to foster the transition to a net-zero economy
13:17 Donau Soja urges EU for clarity on EUDR implementation
09.04.2024  
10:44 Ukraine remained the third source of EU imports in 2023, with a value of EUR 11.8 billion
06.04.2024  
10:04 World cereal output seen up in 2023/24
09:55 FAO Food Price Index rises in March
05.04.2024  
10:04 Shellfish Crop Insurance Program Offers Oyster Producers Needed Protection from Environmental Challenges and More
03.04.2024  
23:01 Croatian horseradish root Ludbreški hren' added to register of Protected Designations of Origin
02.04.2024  
10:15 FAO and chef Fatmata Binta announce new project to empower women fonio producers in Ghana
28.03.2024  
12:55 Council compromise on Ukraine ATMs Only a half step forward in the right direction
09:18 Commission approves amendment to Italian State aid scheme to support companies in Friuli Venezia Giulia in the context of Russia's war against Ukraine
26.03.2024  
10:55 Projected famine in Gaza: FAO urges immediate access to deliver urgent and critical assistance at scale. About 1.1 million people are experiencing catastrophic food insecurity

Also available: 


NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2024 © Agrarika, ltd.
tel.: +380 67 4473802; +380 67 5964652
e-mail: client@agroperspectiva.com