Referring to Business Times: here is the interesting words to digest...
...LMC International Ltd chairman Dr James Fry, who was also present at the POTS series, took a more optimistic view.
He said the price gap between crude petroleum and CPO favours more consumption of palm biodiesel. The current CPO price of RM2,300 per tonne works out to be US$85 per barrel cheaper than crude petroleum. "We're back to where we were nine months ago."
The Malaysian Palm Oil Board's data shows that for the first eight months of this year, biodiesel exports rose sixfold to 114,414 tonnes, compared with the same period a year ago...
...Thomas Mielke said global production of 17 oils and fats has doubled in the last 20 years to 189 million tonnes this year. Crude palm oil (CPO) alone makes up 56.5 million tonnes, or 30 per cent of the total, clinching the top spot.
"By year-end, Malaysia is set to produce 19.2 million tonnes of CPO while the volume in Indonesia is expected to touch 29 million tonnes," Mielke said on the sidelines of the seminar.
Technical view - Today and tomorrow will have a range of SAR trade signals affecting technical indicator A from 2311 to 2301. If FCPO price is pulling away from this range, a short term trend may have been formed either up north or down south based on the 60-minute data file, that is, once below 2300 in next few sessions, FCPO will be a downtrend and once above 2310 in next few sessions FCPO will be a uptrend.