KUALA LUMPUR, Dec 14 (Reuters) - Bangladesh wants to buy palm oil from Malaysia via its state trading arm to ensure sufficient supply and price stability for the edible oil, said a Malaysian minister.
"Bangladesh is interested to have a government-to-government buying arrangement to ensure there is steady supply and price of palm oil is maintained in the local market," Malaysia's Plantation Industries and Commodities Minister Bernad Dompok was quoted by state news agency Bernama as saying.
Such an arrangement will boost Malaysia's palm oil export given Bangladesh's low per capita consumption of palm oil, said Dompok.
Tuesday, December 15, 2009
Trader's Highlight
DJI-NEW YORK, Dec 14 (Reuters) - U.S. stocks closed at 14-month highs on Monday as Abu Dhabi's $10 billion in aid to help Dubai avoid default eased concerns and a takeover deal by Exxon Mobil Corp raised optimism about mergers and acquisitions activity.
Citigroup Inc's plan to repay the U.S. government about $20 billion in bailout funds also helped buttress the buoyant mood a week after Bank of America fully repaid its $45 billion government loan.
The Dow Jones industrial average <.DJI> gained 29.55 points, or 0.28 percent, to end at 10,501.05. The Standard & Poor's 500 Index <.SPX> rose 7.70 points, or 0.70 percent, to 1,114.11. The Nasdaq Composite Index <.IXIC> climbed 21.79 points, or 0.99 percent, to close at 2,212.10.
NYMEX-NEW YORK, Dec 14 (Reuters) - U.S. crude futures slipped on Monday, settling lower for a ninth consecutive session after seesawing as concerns about healthy inventories and tepid demand offset a weak dollar and advancing equities.
On the New York Mercantile Exchange, January crude fell 36 cents, or 0.52 percent, to settle at $69.51 a barrel, lowest settlement since crude ended at $66.71 on Sept. 29.
CBOT-SOYBEANS - January up 20 cents at $10.55 per bushel. Surged into buy stops on weakening dollar and expectations of index fund buying in agricultural commodities in the new year. Bullish NOPA crush number adds support.
National Oilseed Processor Association reports U.S. November soybean crush at record large 160.259 million bushels, above range of trade estimates.
CBOT-SOYOIL - December expired up 0.18 cent at 39.40 cents per lb, January up 0.06 at 39.63 cents. Buoyed by rally in soybeans, which overshadows news China may release soybeans from reserves.
NOPA reports U.S. November soyoil stocks at 2.411 billion lbs, up from 2.286 billion in October.
FCPO-JAKARTA, Dec 14 (Reuters) - Malaysian crude palm oil futures fell 0.7 percent on Monday, after short-covering narrowed a loss of as much as 2 percent due to a drop in crude oil prices and talk of lower exports for the first half of December, traders said.
The benchmark February contract on the Bursa Malaysia Derivatives Exchange settled down 17 ringgit at 2,513 ringgit ($737.60), after going as low as 2,488 ringgit in early trade. Overall volume was 11,673 lots of 25 tonnes each.
REGIONAL EQUITIES-BANGKOK, Dec 14 (Reuters) - Thailand's benchmark stock index
<.SETI> ended at a two-week closing high on Monday, helped by strong buying interest from local institutions, while Malaysia's index <.KLSE> rose to its highest in nearly a week.
Most other Southeast Asian stocks were also in positive terrain for much of the day but volume fell. Singapore <.FTSTI> ended flat after early gains, while the Philippines <.PSI> rose for a third day and Vietnam <.VNI> rallied after a four-day loss.
In Kuala Lumpur, the main index <.KLSE> was up 0.4 percent at 1,265.45, its highest since Dec. 8, with financial CIMB Group and power utility Tenaga each rising about 1.3 percent.
Citigroup Inc's plan to repay the U.S. government about $20 billion in bailout funds also helped buttress the buoyant mood a week after Bank of America fully repaid its $45 billion government loan.
The Dow Jones industrial average <.DJI> gained 29.55 points, or 0.28 percent, to end at 10,501.05. The Standard & Poor's 500 Index <.SPX> rose 7.70 points, or 0.70 percent, to 1,114.11. The Nasdaq Composite Index <.IXIC> climbed 21.79 points, or 0.99 percent, to close at 2,212.10.
NYMEX-NEW YORK, Dec 14 (Reuters) - U.S. crude futures slipped on Monday, settling lower for a ninth consecutive session after seesawing as concerns about healthy inventories and tepid demand offset a weak dollar and advancing equities.
On the New York Mercantile Exchange, January crude
CBOT-SOYBEANS - January
National Oilseed Processor Association reports U.S. November soybean crush at record large 160.259 million bushels, above range of trade estimates.
CBOT-SOYOIL - December
NOPA reports U.S. November soyoil stocks at 2.411 billion lbs, up from 2.286 billion in October.
FCPO-JAKARTA, Dec 14 (Reuters) - Malaysian crude palm oil futures fell 0.7 percent on Monday, after short-covering narrowed a loss of as much as 2 percent due to a drop in crude oil prices and talk of lower exports for the first half of December, traders said.
The benchmark February contract
REGIONAL EQUITIES-BANGKOK, Dec 14 (Reuters) - Thailand's benchmark stock index
<.SETI> ended at a two-week closing high on Monday, helped by strong buying interest from local institutions, while Malaysia's index <.KLSE> rose to its highest in nearly a week.
Most other Southeast Asian stocks were also in positive terrain for much of the day but volume fell. Singapore <.FTSTI> ended flat after early gains, while the Philippines <.PSI> rose for a third day and Vietnam <.VNI> rallied after a four-day loss.
In Kuala Lumpur, the main index <.KLSE> was up 0.4 percent at 1,265.45, its highest since Dec. 8, with financial CIMB Group
FCPO Daily: Consolidation
FKLI Daily: Waiting for a significant breakout
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