JAKARTA, April 8 (Reuters) - Indonesia's state plantation firms plan to supply state oil firm Pertamina with 300,000 tonnes of palm oil-based biofuel per year from their new jointly owned biofuel plant, a company president director said on Thursday.
The biofuel plant owned by the consortium -- which consists of state plantation firms PT Perkebunan III, PT Perkebunan IV, and PT Perkebunan V -- will cost about 500 billion rupiah ($55.28 million) to build and will have capacity of up to one million tonnes within five years, officials said.
Friday, April 9, 2010
Breaking News-RTRS-UPDATE 2-Geithner, Wang exchange views on US-China concerns
WASHINGTON, April 8 (Reuters) - U.S. Treasury Secretary Timothy Geithner, facing pressure from Congress to name China a currency manipulator, met Chinese Vice Premier Wang Qishan in Beijing on Thursday but there was no word on whether they discussed a possible yuan revaluation.
Breaking News-RTRS-PREVIEW - USDA to confirm burdensome grains supplies
CHICAGO, April 7 (Reuters) - The U.S. Department of Agriculture (USDA) early on Friday is expected to confirm a burdensome supply of grains that drove Chicago Board of Trade wheat and corn futures to nearly six-month lows last week.
And, the abundant supply of soy in the United States coupled with record output this year in South America is limiting buying enthusiasm keeping soy rangebound at roughly the $9.50 per bushel level.
And, the abundant supply of soy in the United States coupled with record output this year in South America is limiting buying enthusiasm keeping soy rangebound at roughly the $9.50 per bushel level.
Trader's Highlight
DJI-NEW YORK, April 8 (Reuters) - U.S. stocks gained on Thursday after surprisingly strong March retail sales increased optimism that the economic recovery is on track.
Investors snapped up retailers' shares after top U.S. chains reported a record year-over-year increase in same-store sales for March. The sales reflected a boost in consumer demand that some investors had doubted would materialize, with job growth still anemic.
The Dow Jones industrial average <.DJI> gained 29.55 points, or 0.27 percent, to 10,927.07. The Standard & Poor's 500 Index <.SPX> rose 3.99 points, or 0.34 percent, to 1,186.44. The Nasdaq Composite Index <.IXIC> added 5.65 points, or 0.23 percent, to 2,436.81.
NYMEX-NEW YORK, April 8 (Reuters) - U.S. crude oil futures settled lower onThursday, dropping a second straight session as a rising inventories, higher U.S. jobless claims and the dollar's strength helped pressure oil.
Those factors outweighed strong retail sales data that fueled a bounce by U.S. stocks on Wall Street and helped lift crude oil futures off an earlier low.
On the New York Mercantile Exchange, May crude fell 49 cents, or 0.57 percent, to $85.39 a barrel, trading from $84.38 to $85.88. Tuesday's $87.09 peak was the highest intraday price since $89.82 was struck on Oct. 9, 2008.
CBOT-CHICAGO, April 8 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Thursday.
CBOT-SOYBEANS - May down 6 cents at $9.46-1/2 a bushel; November down 3-3/4 at $9.37-1/2. Lower crude oil prices and harvesting of a huge South American soybean crop weigh, in addition to profit taking after Wednesday's rally.
CBOT-SOYOIL - May down 0.11 cent at 39.92 cents per lb. Lower crude oil and weak soy weighs.
FCPO-KUALA LUMPUR, April 8 (Reuters) - Malaysian crude palm oil futures fell 1.5 percent on Thursday as the firm Malaysian ringgit and Greek debt woes weighed on sentiment.
Growing doubts over Greece's ability to resolve its debt crisis offset market expectations that Malaysian palm oil stocks probably fell to a six month low in March.
Benchmark June crude palm oil contract on Bursa Malaysia Derivatives Exchange dropped 39 ringgit to settle at 2,500 ringgit ($777.8), hovering around a near-nine week low hit on Tuesday. Overall traded volumes surged to 17,847 lots of 25tonnes each from usual 10,000 lots.
REGIONAL EQUITIES-BANGKOK, April 8 (Reuters) - Thai stocks <.SETI> fell 3.5 percent on Thursday, far more than other Southeast Asian markets after a state of emergency was declared in Bangkok, while Indonesia fell back after reports of temporary capital controls.
Appetite for equities in the region was dented by the view of a top Federal Reserve official who said U.S. interest rates should not stay low for much longer, suggesting to some that recent strong inflows into Asia might wane.
Singapore <.FTSTI> and Malaysia <.KLSE> lost almost 1 percent, ending recent runs to 21-month and 25-month highs respectively. The Philippines <.PSI> eased 0.4 percent, hovering around 26-month highs. Vietnam <.VNI> was flat.
Investors snapped up retailers' shares after top U.S. chains reported a record year-over-year increase in same-store sales for March. The sales reflected a boost in consumer demand that some investors had doubted would materialize, with job growth still anemic.
The Dow Jones industrial average <.DJI> gained 29.55 points, or 0.27 percent, to 10,927.07. The Standard & Poor's 500 Index <.SPX> rose 3.99 points, or 0.34 percent, to 1,186.44. The Nasdaq Composite Index <.IXIC> added 5.65 points, or 0.23 percent, to 2,436.81.
NYMEX-NEW YORK, April 8 (Reuters) - U.S. crude oil futures settled lower onThursday, dropping a second straight session as a rising inventories, higher U.S. jobless claims and the dollar's strength helped pressure oil.
Those factors outweighed strong retail sales data that fueled a bounce by U.S. stocks on Wall Street and helped lift crude oil futures off an earlier low.
On the New York Mercantile Exchange, May crude
CBOT-CHICAGO, April 8 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Thursday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-KUALA LUMPUR, April 8 (Reuters) - Malaysian crude palm oil futures fell 1.5 percent on Thursday as the firm Malaysian ringgit and Greek debt woes weighed on sentiment.
Growing doubts over Greece's ability to resolve its debt crisis offset market expectations that Malaysian palm oil stocks probably fell to a six month low in March.
Benchmark June crude palm oil contract
REGIONAL EQUITIES-BANGKOK, April 8 (Reuters) - Thai stocks <.SETI> fell 3.5 percent on Thursday, far more than other Southeast Asian markets after a state of emergency was declared in Bangkok, while Indonesia fell back after reports of temporary capital controls.
Appetite for equities in the region was dented by the view of a top Federal Reserve official who said U.S. interest rates should not stay low for much longer, suggesting to some that recent strong inflows into Asia might wane.
Singapore <.FTSTI> and Malaysia <.KLSE> lost almost 1 percent, ending recent runs to 21-month and 25-month highs respectively. The Philippines <.PSI> eased 0.4 percent, hovering around 26-month highs. Vietnam <.VNI> was flat.
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