19th Palm and Lauric Oils Conference and Exhibition (POC) was officiated by YBhg Tun Mohamed Dzaiddin Hj. Abdullah Chairman,Bursa Malaysia Bhd and Tan Sri Datuk Dr. Yusof Basiron ,Chief Executive Officer of MPOC on the 26 February 2008 in Kuala Lumpur in conjuntion with Bursa Malaysia and the Malaysian Palm Oil Council pledge of RM400,000 to the Malaysian Palm Oil Wildlife Conservation Fund (MPOWCF) as part of its corparate social responsibiliy (CSR) commitment to support sustainable palm oil plantation practices.On the presentation of the cheque,Tun Mohamed Dzaiddin said, the Palm Oil industry has gain international recognition not only in playing an important role in maintaining the conservation of the enviroment but also steadily raising its output to meet the continuously growing global demand due to its versatility in usage .In addition Yb Datuk Peter Chin said,the increasing demands for alternative and enviromentally friendly fuels, palm based bio diesel has gained importance and this has further enlarge the landscape of palm oil use thus setting the Crude Palm Oil to a record-high of RM3,400 per tonne in January 2008.The Malaysian oil palm industry continued to record an impressive performance in 2007.Export earnings of oil palm products rose 41.8% to a new level of RM45.1 billion,1.51 million tonnes in 2006, even though the production of CPO and 2007 has delined marginally by 0.4% to 15.8 million tonnes due to the effects of flood damage during the early part of the year and biological stress,which affected the palm trees especially during the first half of 2007 this evidently contributed to the higher closing of Palm oil stocks to 1.68 million tonnes up by 11.7% compared with 2006.Crude Palm kernel oil stocks however finished lower by 25.9% attributed to the lower production and higher exports with a recorded decline of 2.5% to 1.91 million tonnes. The average CPO price increased by 67.5% or RM1,020 to RM2,530 in 2007 influenced by structural changes in supply demand of the global oils and fats. Average export price for processed palm oil products also witnessed a sharp increase namely RBD palm oil by RM1,106 0r 72.1% to RM2,640; RBD palm oil olein by RM966.50 or 59.6% to RM2,588; and RBD palm stearin by RM1,015 or 67.9% to RM2,511.50.Futhermore the average price of palm kernel in 2007 increased by 63.8% or RM569.50 to RM1,461.50 from RM892 in 2006.Kyoto Protocol and fluctuating crude oil prices has been the new element in influencing the demand of palm oil.Countries who are aware of the need for an alternative source to cushion the impact due to the surge in future crude oil prices will see the increased demand for palm oil and bio fuel .
Wednesday, March 12, 2008
POC:Outlook On CPO 2007 Impressive Performance
19th Palm and Lauric Oils Conference and Exhibition (POC) was officiated by YBhg Tun Mohamed Dzaiddin Hj. Abdullah Chairman,Bursa Malaysia Bhd and Tan Sri Datuk Dr. Yusof Basiron ,Chief Executive Officer of MPOC on the 26 February 2008 in Kuala Lumpur in conjuntion with Bursa Malaysia and the Malaysian Palm Oil Council pledge of RM400,000 to the Malaysian Palm Oil Wildlife Conservation Fund (MPOWCF) as part of its corparate social responsibiliy (CSR) commitment to support sustainable palm oil plantation practices.On the presentation of the cheque,Tun Mohamed Dzaiddin said, the Palm Oil industry has gain international recognition not only in playing an important role in maintaining the conservation of the enviroment but also steadily raising its output to meet the continuously growing global demand due to its versatility in usage .In addition Yb Datuk Peter Chin said,the increasing demands for alternative and enviromentally friendly fuels, palm based bio diesel has gained importance and this has further enlarge the landscape of palm oil use thus setting the Crude Palm Oil to a record-high of RM3,400 per tonne in January 2008.The Malaysian oil palm industry continued to record an impressive performance in 2007.Export earnings of oil palm products rose 41.8% to a new level of RM45.1 billion,1.51 million tonnes in 2006, even though the production of CPO and 2007 has delined marginally by 0.4% to 15.8 million tonnes due to the effects of flood damage during the early part of the year and biological stress,which affected the palm trees especially during the first half of 2007 this evidently contributed to the higher closing of Palm oil stocks to 1.68 million tonnes up by 11.7% compared with 2006.Crude Palm kernel oil stocks however finished lower by 25.9% attributed to the lower production and higher exports with a recorded decline of 2.5% to 1.91 million tonnes. The average CPO price increased by 67.5% or RM1,020 to RM2,530 in 2007 influenced by structural changes in supply demand of the global oils and fats. Average export price for processed palm oil products also witnessed a sharp increase namely RBD palm oil by RM1,106 0r 72.1% to RM2,640; RBD palm oil olein by RM966.50 or 59.6% to RM2,588; and RBD palm stearin by RM1,015 or 67.9% to RM2,511.50.Futhermore the average price of palm kernel in 2007 increased by 63.8% or RM569.50 to RM1,461.50 from RM892 in 2006.Kyoto Protocol and fluctuating crude oil prices has been the new element in influencing the demand of palm oil.Countries who are aware of the need for an alternative source to cushion the impact due to the surge in future crude oil prices will see the increased demand for palm oil and bio fuel .
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