CPO Falls Amid Weak Commodities; Key MPOB Data Awaited

Crude palm oil futures on Malaysia’s derivatives exchange extended declines Wednesday as investors made bearish bets ahead of key production and stock data due at the end of the week.

Prices also fell due to broad-based weakness in commodity markets, market participants said. Benchmark August CPO on the Bursa Malaysia Derivatives ended 1.1% lower at MYR3,316 a metric ton, after tumbling to MYR3,313/ton, the lowest since May 18.

Cambodia approves rubber plantation—in national park by Jeremy Hance

The Cambodian Prime Minister, Hun Sen, has approved a 9,000 hectare (22,200 acre) rubber plantation in Virachey National Park despite its status as a protected area, reports the Phnom Penh Post. The park is also listed as an ASEAN Heritage Park.

Spanning 332,500 hectares in Ratanakkiri province, Virachey National Park, is Cambodia's largest.

The concession to clearcut the forest and establish a rubber plantation was awarded to Srun Sovannaphoum Investment Co Ltd.

Indonesia's forest conservation plan may not sufficiently reduce emissions

One third of Indonesia's greenhouse gas emissions from deforestation originate from areas not officially defined as "forest" suggesting that efforts to reduce emissions from deforestation and degradation (REDD+) may fail unless they account for carbon across the country's entire landscape, warns a new report published by the World Agroforestry Centre (CGIAR).

The policy brief finds that up to 600 million tons of Indonesia's carbon emissions "occur outside institutionally defined forests" and are therefore not accounted for under the current national REDD+ policy, which, if implemented, would enable Indonesia to win compensation from industrialized countries for protecting its carbon-dense forests and peatlands as a climate change mechanism.

xclusive: Record rise, despite recession, means 2C target almost out of reach

Economic recession has failed to curb rising emissions, undermining hope of keeping global warming to safe levels Photograph: Dave Reede/All Canada Photos/Corbis

Greenhouse gas emissions increased by a record amount last year, to the highest carbon output in history, putting hopes of holding global warming to safe levels all but out of reach, according to unpublished estimates from the International Energy Agency.

The shock rise means the goal of preventing a temperature rise of more than 2 degrees Celsius – which scientists say is the threshold for potentially “dangerous climate change” – is likely to be just “a nice Utopia”, according to Fatih Birol, chief economist of the IEA. It also shows the most serious global recession for 80 years has had only a minimal effect on emissions, contrary to some predictions.

Countries form European Palm Oil Council in attempt to counter criticism of industry’s environmental record

 Photograph: Sutanta Aditya/AFP/Getty Images

Malaysia and Indonesia, which together account for about 90% of the world’s palm oil production, have launched a joint PR offensive to defend the industry’s environmental record.

Late last week, ministers from the two countries agreed to finalise plans for a European Palm Oil Council (EPOC) by the end of this year, to defend the trade of palm oil to the European Union and counter the “anti-palm oil campaign”. The industry has been accused by environmental groups of destroying biodiversity and causing social conflicts, deforestation and climate change.

Rich investors turn to local crude oil futures

MUMBAI: The spiral in oil prices has attracted many wealthy investors to bet on local commodity exchanges. During the last three months, investors have accumulated rich important positions in local crude oil futures, betting that the U.S. recovery and riots in western Asia will drive prices week after week. Private banking clients of some multinational companies and private banks have been referred by their wealth managers to brokers commodity for taking exposure in oil futures, brokers say some high level.

Oil Trades Below $106 as Europe Debt Concerns Outweigh Middle East Unrest

Oil fell for a third day in New York and the concern that Japan's current nuclear crisis is slowing reconstruction efforts and debt of European countries "can reduce demand, unrest overshadowed in Libya and the Middle East.

Futures dropped as much as 0.4 percent on the longest run of decline in two weeks as the European Union reduced the amount committed to an emergency support system for the euro area. Japanese stocks fell after radiation hampered efforts to cool the reactors at the plant affected Fukushima Dai-Ichi and earthquake damage reduced the supply of materials for manufacturers. Libya rebels captured the oil port of Ras Lanuf yesterday, while 12 people died in clashes in Syria.

Asia rubber: China turns to inventory; floods hit Thailand

Singapore  (march 29, 2011) : a few cargoes of thai, indonesia and malaysian tyre grade changed hands at around $5 a kg, but main buyer china turned to domestic inventory, which was being offered at discounted prices, dealers said on monday. prices of tyre grade have dropped more than 12 percent since striking a record above $6 in february, as economic concerns triggered by the unrest in the middle east and worries about the impact of a deadly earthquake in japan on demand spurred selling on the tokyo commodity exchange.

Commodity Trends: Rubber recovers fast, uptrend in pepper

Rubber prices rebounded on easing of demand concerns caused by Japan earthquake and closure of automobile plants and market returned back to fundamentals. Natural rubber continues to be supported by higher prices of crude oil and tight supplies in producing countries. Pepper gained this week on tight supplies but higher prices of Indian parity weakened export demand. However, export demnad would pick up if prices ease.

Only a handful of investors truly understand that one sector of the heavy oil market is the most profitable oil in all of North America - it's called cold flow heavy oil

Think of it as light heavy oil, thick and gooey enough that it needs a pump to get out of the ground, but no so thick that it needs expensive heating to flow - hence the name cold flow. Now when I say that cold flow heavy oil is the most profitable, I mean that producers get more profit per barrel (the netback) than from other types of oil.

Sumatra Copper & Gold boosts gold Resource at Tembang to one million ounces

Sumatra Copper & Gold plc (ASX: SUM) has upgraded the resource for its Tembang Gold and Silver Project, located in central Sumatra, Indonesia, to over one million ounces gold.The updated resource allows the Pre-Feasibility Study to be completed with the scope of the project finalised for the Definitive Feasibility Study (DFS), scheduled to commence in the second half of 2011. Recent drilling encountered higher grade zones at Belinau and Berenai and has resulted in an overall more robust and higher grade resource of 23.54 million tonnes (Mt) at 1.32 g/t gold and 17.3 g/t silver (Ag).

Anglo-Eastern Plantations First-half Profit Rises On Higher Crude Palm Oil, Rubber Prices – Update

(RTTNews) – Oil palm and rubber cultivator Anglo-Eastern Plantations plc (AEP.L) reported Friday an increase in first-half profit, driven by higher prices for crude palm oil and rubber. Looking ahead, the board remains confident of reporting a satisfactory profit level and cash flow for the second half.

Profit before tax for the half year increased to US$26.69 million from US$24.03 million in the previous year.

Profit attributable to equity holders was US$16.57 million or 41.93 cents per share, higher than US$14.05 million or 35.6 cents per share in the prior year. Earnings before Biological asset revaluation movement or BA adjustment for the recent period was US$16.34 million.

CPO and Rubber Top Commodities To Meet ACFTA

Crude palm oil and rubber are commodities Indonesia could rely on to deal with the Asean-China Free Trade Agreement, an Agriculture Ministry official said here on Friday. “Indonesia is a leading producer of raw materials. Plantation products and rice are actually our strength,” the Agriculture Ministry`s secretary general, Hasanuddin Ibrahim, said at Agrinex International Expo 2010.

However it is a pity that rice exports are still small to only a few countries and of certain varieties, he said.

Asian Crude Palm Oil Extends Losses Amid Fears Of Japan Quake

Crude palm oil futures on Malaysia’s derivatives exchange extended losses Friday mostly tracking crude and the Dalian soy complex, after a strong earthquake hit Japan, weighing on commodity demand. Concerns about inflationary pressures in China, with the CPI estimated to have risen 4.9% in February compared with a year earlier, also led to a bearish market sentiment, said market participants.

Crude Palm Oil Ends Down; Strong Output Hopes Cap Gains

Crude palm oil futures on Malaysia’s derivatives exchange ended mostly lower Wednesday, as investors booked profits due to expectations of rising supplies this month. The benchmark June contract on the Bursa Malaysia Derivatives ended MYR2 lower at MYR3,306/ton, after trading both ways.Prices were mostly higher during the day, underpinned by gains in agri-based commodities and on concerns that global vegetable oil supplies may remain tight due to a loss of acreage in the U.S.

Crude Palm Oil Ends Up; Rising Supply Limits Upside

Crude palm oil futures on Malaysia’s derivatives exchange rose Monday in a mild correction of last week’s losses, with support in late trade from a slight rebound in Chicago soyoil.

The benchmark June contract on the Bursa Malaysia Derivatives ended MYR21 higher at MYR3,282 a metric ton.