________________________________ From: PalmOil [mailto:[email protected]] Sent: Tuesday, May 12, 2009 6:35 PM To: Palmoil.com Subscribers Subject: Asian Crude Palm Oil Ends Up On Likely Indonesia Export Tax Hike
Asian Crude Palm Oil Ends Up On Likely Indonesia Export Tax Hike Crude palm oil futures on Malaysia's derivatives exchange ended Tuesday at a new high for 2009 on news Indonesia may increase its CPO export tax to 2.5% in June, versus a nil tax in May, said trade participants. Read also in category "Palm market news <http://palmoil.com/news/palm_market_news> ": Malaysian Cash Market Prices For Palm Oil - May 12 at 1000 GMT Tuesday <http://palmoil.com/news/palm_market_news/2009_5_12/malaysian_cash_marke t_prices_for_palm_oil_-_may_12_at_1000_gmt_tuesday> The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, supplied by commodity broker Matthes & Porton Bhd. Sime Darby:To Spend MYR100M In R&D For New Seeds Over 4-5 Yrs <http://palmoil.com/news/palm_market_news/2009_5_12/sime_darby_to_spend_ myr100m_in_randd_for_new_seeds_over_4-5_yrs> Sime Darby Bhd. (4197.KU) plans to spend MYR100 million in research and development in seed technology over the next four to five years to further improve yields of its oil palm plantations, Ahmad Zubir Murshid, president and chief executive, said Tuesday. Astra Agro Withdraws 6,000 Tons CPO Offered Tue; Low Bids <http://palmoil.com/news/palm_market_news/2009_5_12/astra_agro_withdraws _6_000_tons_cpo_offered_tue_low_bids> Indonesia's PT Astra Agro Lestari Tuesday said in a statement it withdrew 6,000 metric tons of crude palm oil offered in an auction. Sime New Oil Palm Type May Double Output To 10 Tons/Ha <http://palmoil.com/news/palm_market_news/2009_5_12/sime_new_oil_palm_ty pe_may_double_output_to_10_tons_ha> In a significant breakthrough, Malaysia-based Sime Darby Bhd. (4197.KU) has developed a new type of oil palm which can double crude palm oil production to 10 metric tons a hectare, a senior company executive said Tuesday. MARKET TALK: BMD CPO Rises On Likely Indonesia Export Tax <http://palmoil.com/news/palm_market_news/2009_5_12/market_talk_bmd_cpo_ rises_on_likely_indonesia_export_tax> BMD CPO futures up on likely Indonesian CPO export tax in June, say traders. MARKET TALK: UOB KayHian Keeps Overweight On Asian Plantations <http://palmoil.com/news/palm_market_news/2009_5_12/market_talk_uob_kayh ian_keeps_overweight_on_asian_plantations> UOB Kay Hian keeps Overweight rating on Asian plantation sector; notes palm oil inventory fell to low of 1.29 million tonnes (lowest since March 2007) due to lower-than-expected production, domestic usage. Indonesia May Raise June CPO Export Tax To 2.5% From 0% - Min <http://palmoil.com/news/palm_market_news/2009_5_12/indonesia_may_raise_ june_cpo_export_tax_to_2_5_from_0_-_min> Indonesia may impose an export tax of 2.5% on crude palm oil in June, versus a nil tax in May, the country's trade minister said Tuesday. Malaysian Cash Market Prices For Palm Oil - May 12 at 0430 GMT Tuesday <http://palmoil.com/news/palm_market_news/2009_5_12/malaysian_cash_marke t_prices_for_palm_oil_-_may_12_at_0430_gmt_tuesday> The following are prices for Malaysian palm oil in the cash market at 0430 GMT Tuesday, supplied by commodity broker Matthes & Porton Bhd. MARKET TALK: BMD CPO Ends Up Midday; Trade Thin, Lack Of Cues <http://palmoil.com/news/palm_market_news/2009_5_12/market_talk_bmd_cpo_ ends_up_midday_trade_thin_lack_of_cues> BMD CPO futures end up midday; trade thin on lack of fresh cues, say traders. MARKET TALK: BMD CPO Up In Technical Trade; To Be Rangebound <http://palmoil.com/news/palm_market_news/2009_5_12/market_talk_bmd_cpo_ up_in_technical_trade_to_be_rangebound> BMD CPO futures up in technical trading; volumes low, say traders. MARKET TALK: Sharp Reversal In CPO Prices Imminent - OSK <http://palmoil.com/news/palm_market_news/2009_5_12/market_talk_sharp_re versal_in_cpo_prices_imminent_-_osk> OSK downgrades Malaysia plantation sector to Underweight from Neutral; thinks sharp reversal in palm oil prices imminent. MARKET TALK: BMD CPO To Open MYR5 Dn On Weaker Overnight Soyoil <http://palmoil.com/news/palm_market_news/2009_5_12/market_talk_bmd_cpo_ to_open_myr5_dn_on_weaker_overnight_soyoil> BMD CPO futures expected to open MYR5 lower, tracking weaker soyoil futures overnight, say traders. Read more on Palmoil.com homepage <http://palmoil.com/mainpage/fastview/news/79783> The option of receiving e-mail notification can be easily subscribed or unsubscribed by Registered Users through updating "My Account" section after login. You can choose categories on which you want to receive alerts. http://www.palmoil.com This email and any attachments are confidential and may also be privileged. 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