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Wilmar - Watch for a Strong Rally to Come! Post Reply Rate topic
lynn89 Senior	20-Nov-2019 09:46        lynn89 About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	wondering why going higher - now $4.10
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FATABA Supreme	13-Nov-2019 08:47        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Hmm....little or no comments on Wilmar ...is it price alrdy too high ( w listing as the long catalyst which most likely alrdy factor in ) ..... on closer look at the result ( at best FLAT) ...its not 10% which factor the " recognition of a gain from the disposal of the Group&rsquo s discontinued operations in Brazil. Crushing"   wonder how wld market react ?  NEWS RELEASE    WILMAR 3Q2019 NET EARNINGS INCREASES 10% TO US$447 MILLION CORE NET EARNINGS DECLINES 3% TO US$419 MILLION - Stronger performance across all key businesses - Lower contributions from Associates and Joint Ventures - Generated net cash flows from operating activities of US$3.62 billion and free cash flow of US$2.74 billion in 9M2019   Highlights   In US$ million 3Q2019 3Q2018*  Change 9M2019 9M2018* Change Revenue 11,163.6 11,418.9 -2.2% 31,390.2 33,307.4 -5.8% EBITDA 907.9 906.3 0.2% 2,095.0 2,164.6 -3.2% Net profit  447.1 405.9 10.2% 855.0 925.6 -7.6% Net profit from continuing operations 389.3 433.4 -10.2% 829.6 953.1 -13.0% Core net profit  419.2 433.2 -3.2% 846.4 968.5 -12.6%              Earnings per share &ndash fully diluted (US cents) 7.0 6.4 9.4% 13.5 14.6 -7.5% Earnings per share from continuing operations - fully diluted (US cents) 6.1 6.8 -10.3% 13.1 15.1 -13.2%   * Prior period figures were restated upon adoption of SFRS (I) 15 Revenue from Contracts with Customers and in accordance with SFRS (I) 3, the Group has restated the prior year&rsquo s figures subsequent to the finalisation of purchase price allocation exercise for the acquisition of Shree Renuka Sugars Limited (&ldquo SRSL&rdquo ) and its subsidiaries   Singapore, November 12, 2019 &ndash Wilmar International Limited (&ldquo Wilmar&rdquo or &ldquo the Group&rdquo ), Asia&rsquo s leading agribusiness group, reported a 10% increase in net profit to US$447.1 million for the quarter ended September 30, 2019 (&ldquo 3Q2019&rdquo ) (3Q2018: US$405.9 million).  The stronger performance was driven by better results in Tropical Oils and Consumer Products as well as the recognition of a gain from the disposal of the Group&rsquo s discontinued operations in Brazil. Crushing also performed better than expected. These were partially offset by lower contributions from associates and joint ventures. Excluding gains from discontinued operations and non-operating items, core net profit for the quarter was 3% lower at US$419.2 million (3Q2018: US$433.2 million).
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CheeryVGoh Supreme	04-Nov-2019 11:44        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Let's wait & see results. FATABA      ( Date: 04-Nov-2019 11:39) Posted: Cld b news of listing coming  I dont expect its result to be good....mayb flat   CheeryVGoh      ( Date: 31-Oct-2019 12:49) Posted: Hello Fata, Think near 3.60 no chance liao. WIll buy if swing back to 3.70 - 3.71
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FATABA Supreme	04-Nov-2019 11:39        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Cld b news of listing coming  I dont expect its result to be good....mayb flat   CheeryVGoh      ( Date: 31-Oct-2019 12:49) Posted: Hello Fata, Think near 3.60 no chance liao. WIll buy if swing back to 3.70 - 3.71. CheeryVGoh      ( Date: 29-Oct-2019 21:33) Posted: Welcome.  Result will be out on 12 Nov
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ahhuat08 Elite	04-Nov-2019 10:36        ahhuat08 About Contact  Quote this Post!
x 0   x 0  Alert Admin	impressive run today, 4 bucks otw.
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CheeryVGoh Supreme	31-Oct-2019 12:49        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Hello Fata, Think near 3.60 no chance liao. WIll buy if swing back to 3.70 - 3.71. CheeryVGoh      ( Date: 29-Oct-2019 21:33) Posted: Welcome.  Result will be out on 12 Nov. FATABA      ( Date: 29-Oct-2019 21:25) Posted: Thks v much .  I will add if it get near 3.60 ....if not I guess the listing play is much factor in.  YOY q3 2019 is definately lower due to a high q3 2018  Just awaiting to see how much lower this gets.
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CheeryVGoh Supreme	29-Oct-2019 21:33        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Welcome.  Result will be out on 12 Nov. FATABA      ( Date: 29-Oct-2019 21:25) Posted: Thks v much .  I will add if it get near 3.60 ....if not I guess the listing play is much factor in.  YOY q3 2019 is definately lower due to a high q3 2018  Just awaiting to see how much lower this gets.  CheeryVGoh      ( Date: 29-Oct-2019 21:03) Posted: STOCK IMPACT    Tropical oils division remains as the star performer. The good profit margin for palm downstream operation since 2H18 is likely to sustain into 3Q19 as CPO price has remained low and continues to favour downstream players. 2019 has been a very good year for downstream producers with low feedstock prices, good feedstock supplies and good demand that will sustain the processed products pricing as well. An impact of the recent surge in CPO, if any, will likely be in 2020.  4Q19 could be another strong quarter. If Wilmar is able to meet our expectation, we may see consensus upgrade as 4Q19 could potentially be another good earnings quarter with earnings possibly similar to 3Q19. This is because 2020 Chinese New Year (CNY) will take place in end-Jan 20, which means pre-CNY demand will come in 4Q19 instead of the usual 1Q. EARNINGS REVISION/RISK  No change to earnings estimates. We forecast core net profits of US$1,205m, US$1,348m and US$1,443m for 2019-21 respectively VALUATION/RECOMMENDATION  Maintain BUY and target price of S$4.40, which reflects a blended 23x 2019F PE for China operations and blended 11x PE for non-China operations. Accumulate at current price to ride on the better 2H19 earnings and the unlocking of value through the listing of YKA on ChiNext board of the Shenzhen Stock Exchange. This would support share price in the near term, and we expect further re-rating once the IPO is completed. SHARE PRICE CATALYST  Share price re-rating from the listing of YKA. With its strong market positioning and branding in China, we expect Yihai Kerry Arawana&rsquo s (YKA) share price to perform well upon listing. This could lift trading sentiment on Wilmar as well. Post listing of YKA, we expect Wilmar to declare a special dividend, which could lift dividend yield by 2-2.5ppt on top of the expected 1.5% yield from the annual dividend. Our current SOTP valuation is based on 2019F earnings, ie it is beyond the fear that any delay to the IPO may not allow the IPO to be priced at 2018 earnings.
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FATABA Supreme	29-Oct-2019 21:25        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Thks v much .  I will add if it get near 3.60 ....if not I guess the listing play is much factor in.  YOY q3 2019 is definately lower due to a high q3 2018  Just awaiting to see how much lower this gets.  CheeryVGoh      ( Date: 29-Oct-2019 21:03) Posted: STOCK IMPACT    Tropical oils division remains as the star performer. The good profit margin for palm downstream operation since 2H18 is likely to sustain into 3Q19 as CPO price has remained low and continues to favour downstream players. 2019 has been a very good year for downstream producers with low feedstock prices, good feedstock supplies and good demand that will sustain the processed products pricing as well. An impact of the recent surge in CPO, if any, will likely be in 2020.  4Q19 could be another strong quarter. If Wilmar is able to meet our expectation, we may see consensus upgrade as 4Q19 could potentially be another good earnings quarter with earnings possibly similar to 3Q19. This is because 2020 Chinese New Year (CNY) will take place in end-Jan 20, which means pre-CNY demand will come in 4Q19 instead of the usual 1Q. EARNINGS REVISION/RISK  No change to earnings estimates. We forecast core net profits of US$1,205m, US$1,348m and US$1,443m for 2019-21 respectively VALUATION/RECOMMENDATION  Maintain BUY and target price of S$4.40, which reflects a blended 23x 2019F PE for China operations and blended 11x PE for non-China operations. Accumulate at current price to ride on the better 2H19 earnings and the unlocking of value through the listing of YKA on ChiNext board of the Shenzhen Stock Exchange. This would support share price in the near term, and we expect further re-rating once the IPO is completed. SHARE PRICE CATALYST  Share price re-rating from the listing of YKA. With its strong market positioning and branding in China, we expect Yihai Kerry Arawana&rsquo s (YKA) share price to perform well upon listing. This could lift trading sentiment on Wilmar as well. Post listing of YKA, we expect Wilmar to declare a special dividend, which could lift dividend yield by 2-2.5ppt on top of the expected 1.5% yield from the annual dividend. Our current SOTP valuation is based on 2019F earnings, ie it is beyond the fear that any delay to the IPO may not allow the IPO to be priced at 2018 earnings.    CheeryVGoh      ( Date: 29-Oct-2019 21:02) Posted: Wilmar International (WIL SP) 3Q19 Results Preview: Tropical Oils Still The Star Oilseeds & Grains Margin To Improve qoq We are expecting 3Q19 net profit of US$390m-410m, vs 3Q18&rsquo s US$435m and 2Q19&rsquo s US$177m. 3Q is seasonally the best earnings quarter, driven by festive demand and the start of sugar crushing season. For 3Q19, tropical oils will continue to be the star performer, driven by resilient margins, while oilseeds & grains is expected to see better earnings qoq on the back of positive soybean crushing margins and higher consumer packs sales. Maintain BUY. Target price: S$4.40. WHAT&rsquo S NEW  Seasonally strong quarter. Wilmar is scheduled to release its 3Q19 results after trading hours on 12 Nov 19. 3Q is usually the best earnings quarter due to the festive demand in China and the start of sugar crushing season. For 3Q19, we expect Wilmar to deliver core net profit of US$390m-410m, lower yoy. It should be better qoq as 2Q is seasonally the weakest quarter of the year.  Lower profit yoy not a concern. As mentioned, 3Q19 net profit is likely to be lower than 3Q18' s US$435m. This is not a concern as 3Q18 earnings were driven by better crushing margins due to the market distortion from the US-China trade war and also good palm refining margins as CPO price was down significantly due to strong production. Meanwhile, palm oil downstream margin is expected to sustain in 2019, and crushing margin is expected to be lower yoy.  Oilseeds & grains earnings to come from better consumer products and recovery of soybean crushing margins. We are expecting higher sales volume from consumer products on festive demand (Mid-Autumn festival and Golden Week holiday). Soybean crushing margin is expected to have recovered in 3Q19 and this will enhance the division&rsquo s margins. This is in line with industry trend (see chart next page) which shows the uptrend in margins since end-May 19.  Unfavourable weather tempered 2019 sugar production. 3Q19 should see positive contributions from the sugar division as the sugarcane crushing season has started in Australia. However, we are expecting lower contribution vs 3Q18 as we are expecting lower crushing volume since the wet weather affected sugarcane crops&rsquo growth and sugar yield. The Australia Sugar Milling Council is estimating Australia&rsquo s 2019 sugarcane crop to be 3% lower than 2018&rsquo s.
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CheeryVGoh Supreme	29-Oct-2019 21:03        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	STOCK IMPACT    Tropical oils division remains as the star performer. The good profit margin for palm downstream operation since 2H18 is likely to sustain into 3Q19 as CPO price has remained low and continues to favour downstream players. 2019 has been a very good year for downstream producers with low feedstock prices, good feedstock supplies and good demand that will sustain the processed products pricing as well. An impact of the recent surge in CPO, if any, will likely be in 2020.  4Q19 could be another strong quarter. If Wilmar is able to meet our expectation, we may see consensus upgrade as 4Q19 could potentially be another good earnings quarter with earnings possibly similar to 3Q19. This is because 2020 Chinese New Year (CNY) will take place in end-Jan 20, which means pre-CNY demand will come in 4Q19 instead of the usual 1Q. EARNINGS REVISION/RISK  No change to earnings estimates. We forecast core net profits of US$1,205m, US$1,348m and US$1,443m for 2019-21 respectively VALUATION/RECOMMENDATION  Maintain BUY and target price of S$4.40, which reflects a blended 23x 2019F PE for China operations and blended 11x PE for non-China operations. Accumulate at current price to ride on the better 2H19 earnings and the unlocking of value through the listing of YKA on ChiNext board of the Shenzhen Stock Exchange. This would support share price in the near term, and we expect further re-rating once the IPO is completed. SHARE PRICE CATALYST  Share price re-rating from the listing of YKA. With its strong market positioning and branding in China, we expect Yihai Kerry Arawana&rsquo s (YKA) share price to perform well upon listing. This could lift trading sentiment on Wilmar as well. Post listing of YKA, we expect Wilmar to declare a special dividend, which could lift dividend yield by 2-2.5ppt on top of the expected 1.5% yield from the annual dividend. Our current SOTP valuation is based on 2019F earnings, ie it is beyond the fear that any delay to the IPO may not allow the IPO to be priced at 2018 earnings.    CheeryVGoh      ( Date: 29-Oct-2019 21:02) Posted: Wilmar International (WIL SP) 3Q19 Results Preview: Tropical Oils Still The Star Oilseeds & Grains Margin To Improve qoq We are expecting 3Q19 net profit of US$390m-410m, vs 3Q18&rsquo s US$435m and 2Q19&rsquo s US$177m. 3Q is seasonally the best earnings quarter, driven by festive demand and the start of sugar crushing season. For 3Q19, tropical oils will continue to be the star performer, driven by resilient margins, while oilseeds & grains is expected to see better earnings qoq on the back of positive soybean crushing margins and higher consumer packs sales. Maintain BUY. Target price: S$4.40. WHAT&rsquo S NEW  Seasonally strong quarter. Wilmar is scheduled to release its 3Q19 results after trading hours on 12 Nov 19. 3Q is usually the best earnings quarter due to the festive demand in China and the start of sugar crushing season. For 3Q19, we expect Wilmar to deliver core net profit of US$390m-410m, lower yoy. It should be better qoq as 2Q is seasonally the weakest quarter of the year.  Lower profit yoy not a concern. As mentioned, 3Q19 net profit is likely to be lower than 3Q18' s US$435m. This is not a concern as 3Q18 earnings were driven by better crushing margins due to the market distortion from the US-China trade war and also good palm refining margins as CPO price was down significantly due to strong production. Meanwhile, palm oil downstream margin is expected to sustain in 2019, and crushing margin is expected to be lower yoy.  Oilseeds & grains earnings to come from better consumer products and recovery of soybean crushing margins. We are expecting higher sales volume from consumer products on festive demand (Mid-Autumn festival and Golden Week holiday). Soybean crushing margin is expected to have recovered in 3Q19 and this will enhance the division&rsquo s margins. This is in line with industry trend (see chart next page) which shows the uptrend in margins since end-May 19.  Unfavourable weather tempered 2019 sugar production. 3Q19 should see positive contributions from the sugar division as the sugarcane crushing season has started in Australia. However, we are expecting lower contribution vs 3Q18 as we are expecting lower crushing volume since the wet weather affected sugarcane crops&rsquo growth and sugar yield. The Australia Sugar Milling Council is estimating Australia&rsquo s 2019 sugarcane crop to be 3% lower than 2018&rsquo s.  FATABA      ( Date: 29-Oct-2019 12:50) Posted: care to share that report here...thk
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CheeryVGoh Supreme	29-Oct-2019 21:02        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Wilmar International (WIL SP) 3Q19 Results Preview: Tropical Oils Still The Star Oilseeds & Grains Margin To Improve qoq We are expecting 3Q19 net profit of US$390m-410m, vs 3Q18&rsquo s US$435m and 2Q19&rsquo s US$177m. 3Q is seasonally the best earnings quarter, driven by festive demand and the start of sugar crushing season. For 3Q19, tropical oils will continue to be the star performer, driven by resilient margins, while oilseeds & grains is expected to see better earnings qoq on the back of positive soybean crushing margins and higher consumer packs sales. Maintain BUY. Target price: S$4.40. WHAT&rsquo S NEW  Seasonally strong quarter. Wilmar is scheduled to release its 3Q19 results after trading hours on 12 Nov 19. 3Q is usually the best earnings quarter due to the festive demand in China and the start of sugar crushing season. For 3Q19, we expect Wilmar to deliver core net profit of US$390m-410m, lower yoy. It should be better qoq as 2Q is seasonally the weakest quarter of the year.  Lower profit yoy not a concern. As mentioned, 3Q19 net profit is likely to be lower than 3Q18' s US$435m. This is not a concern as 3Q18 earnings were driven by better crushing margins due to the market distortion from the US-China trade war and also good palm refining margins as CPO price was down significantly due to strong production. Meanwhile, palm oil downstream margin is expected to sustain in 2019, and crushing margin is expected to be lower yoy.  Oilseeds & grains earnings to come from better consumer products and recovery of soybean crushing margins. We are expecting higher sales volume from consumer products on festive demand (Mid-Autumn festival and Golden Week holiday). Soybean crushing margin is expected to have recovered in 3Q19 and this will enhance the division&rsquo s margins. This is in line with industry trend (see chart next page) which shows the uptrend in margins since end-May 19.  Unfavourable weather tempered 2019 sugar production. 3Q19 should see positive contributions from the sugar division as the sugarcane crushing season has started in Australia. However, we are expecting lower contribution vs 3Q18 as we are expecting lower crushing volume since the wet weather affected sugarcane crops&rsquo growth and sugar yield. The Australia Sugar Milling Council is estimating Australia&rsquo s 2019 sugarcane crop to be 3% lower than 2018&rsquo s.  FATABA      ( Date: 29-Oct-2019 12:50) Posted: care to share that report here...thks CheeryVGoh      ( Date: 29-Oct-2019 12:40) Posted: There will be a special dividend once China IPO. Today UOB KH has a buy Target Price of $4.40.
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FATABA Supreme	29-Oct-2019 12:50        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	care to share that report here...thks CheeryVGoh      ( Date: 29-Oct-2019 12:40) Posted: There will be a special dividend once China IPO. Today UOB KH has a buy Target Price of $4.40.    FATABA      ( Date: 29-Oct-2019 12:36) Posted: great, I am also waiting for a pull back too ..360 n below maybe start accumulating
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CheeryVGoh Supreme	29-Oct-2019 12:40        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	There will be a special dividend once China IPO. Today UOB KH has a buy Target Price of $4.40.    FATABA      ( Date: 29-Oct-2019 12:36) Posted: great, I am also waiting for a pull back too ..360 n below maybe start accumulating  CheeryVGoh      ( Date: 29-Oct-2019 11:53) Posted: Bgt Wilmar at 3.62 , sold today at 3.75. Will buy back if price drop in anticipation of the China IPO.
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FATABA Supreme	29-Oct-2019 12:36        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	great, I am also waiting for a pull back too ..360 n below maybe start accumulating  CheeryVGoh      ( Date: 29-Oct-2019 11:53) Posted: Bgt Wilmar at 3.62 , sold today at 3.75. Will buy back if price drop in anticipation of the China IPO.   FATABA      ( Date: 26-Oct-2019 16:38) Posted: Honestly I am not too positve on Wilmar. global demand has to be down coming nex 1/2 yrs. Soybean for China is coming partially from Brazil now .  Crash margin is very tight.  The ONLY thing lifting prices seem to b LISTING which is Q4......well after listing how ?  I thk its better to be careful . Jus my view .
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CheeryVGoh Supreme	29-Oct-2019 11:53        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Bgt Wilmar at 3.62 , sold today at 3.75. Will buy back if price drop in anticipation of the China IPO.   FATABA      ( Date: 26-Oct-2019 16:38) Posted: Honestly I am not too positve on Wilmar. global demand has to be down coming nex 1/2 yrs. Soybean for China is coming partially from Brazil now .  Crash margin is very tight.  The ONLY thing lifting prices seem to b LISTING which is Q4......well after listing how ?  I thk its better to be careful . Jus my view .  CheeryVGoh      ( Date: 26-Oct-2019 11:15) Posted: In fact Wilmar & Golden Ugly are both a buyer as well as a seller in the trading of palm oil, just like other soft commodties.  They trade both paper trade & physical trade where the commodity is shipped. Believe the reduction of demand from India will be balance by demands from other markets and also foreign exchange all play a part. Let is one of the reasons will futures jumped. Looking forward to stock price to run for both counters.
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FATABA Supreme	26-Oct-2019 16:38        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Honestly I am not too positve on Wilmar. global demand has to be down coming nex 1/2 yrs. Soybean for China is coming partially from Brazil now .  Crash margin is very tight.  The ONLY thing lifting prices seem to b LISTING which is Q4......well after listing how ?  I thk its better to be careful . Jus my view .  CheeryVGoh      ( Date: 26-Oct-2019 11:15) Posted: In fact Wilmar & Golden Ugly are both a buyer as well as a seller in the trading of palm oil, just like other soft commodties.  They trade both paper trade & physical trade where the commodity is shipped. Believe the reduction of demand from India will be balance by demands from other markets and also foreign exchange all play a part. Let is one of the reasons will futures jumped. Looking forward to stock price to run for both counters.  FATABA      ( Date: 24-Oct-2019 21:33) Posted: Thanks,  wow didnt factor in the weakness of the R$....outweight the fear of India demand. Interesting..
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CheeryVGoh Supreme	26-Oct-2019 12:23        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	RHB :  Sector upgrade to overweight in Sept. CheeryVGoh      ( Date: 26-Oct-2019 11:15) Posted: In fact Wilmar & Golden Ugly are both a buyer as well as a seller in the trading of palm oil, just like other soft commodties.  They trade both paper trade & physical trade where the commodity is shipped. Believe the reduction of demand from India will be balance by demands from other markets and also foreign exchange all play a part. Let is one of the reasons will futures jumped. Looking forward to stock price to run for both counters.  FATABA      ( Date: 24-Oct-2019 21:33) Posted: Thanks,  wow didnt factor in the weakness of the R$....outweight the fear of India demand. Interesting..
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CheeryVGoh Supreme	26-Oct-2019 11:15        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	In fact Wilmar & Golden Ugly are both a buyer as well as a seller in the trading of palm oil, just like other soft commodties.  They trade both paper trade & physical trade where the commodity is shipped. Believe the reduction of demand from India will be balance by demands from other markets and also foreign exchange all play a part. Let is one of the reasons will futures jumped. Looking forward to stock price to run for both counters.  FATABA      ( Date: 24-Oct-2019 21:33) Posted: Thanks,  wow didnt factor in the weakness of the R$....outweight the fear of India demand. Interesting..  CheeryVGoh      ( Date: 24-Oct-2019 17:43) Posted: * Palm oil hits highest since June 12 last year * Worries over demand from India limit upside KUALA LUMPUR, Oct 23 (Reuters) - Malaysian palm oil futures jumped nearly 2% in early trade on Wednesday and hit their highest in more than 16 months due to sharp gains in rival oilseeds and a weaker ringgit, though worries over demand from India capped gains. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 1.3% at 2,348 ringgit ($560.05) per tonne by midday, after rising to their highest since June 12 last year at 2,359 ringgit earlier in the session. Strength in soyoil and palm oil on the Dalian Commodity Exchange, coupled with a weaker ringgit, outweighed worries around a boycott by Indian buyers, a Kuala Lumpur-based trader told Reuters. Dalian' s January palm oil contract rose 2.2%, while the January soyoil contract climbed 1.2%. U.S. soyoil futures on the Chicago Board of Trade were up 0.3%. Palm oil is affected by price movements in related oils as they compete for share in the global vegetable oils market. The ringgit was down 0.1% against the dollar, making palm oil cheaper for holders of foreign currencies. Palm slipped to as low as 2,263 ringgit in the previous session after India' s top vegetable body asked its members to stop buying the edible oil from Malaysia over Prime Minister Mahathir Mohamad' s comments on Kashmir. Some Indian traders said refiners had already stopped buying Malaysian palm oil for shipment in November and December, fearing higher import taxes or other measures. Palm, soy and crude oil prices at 0432 GMT Contract Mont Last Change Low High Volume h MY PALM OIL JAN0 2255 +19.00 2255 2272 356 MY PALM OIL DEC9 2303 +30.00 2297 2317 1865 MY PALM OIL JAN0 2346 +29.00 2340 2359 11880 CHINA PALM JAN0 4944 +106.00 4880 4974 788712 OLEIN CHINA SOYOIL JAN0 6114 +70.00 6046 6136 574214 CBOT SOY OIL DEC9 30.95 +0.10 30.8 31 4249 INDIA PALM OCT9 565.30 +3.10 564.20 565.7 139 OIL INDIA SOYOIL NOV9 756.85 +0.70 756.2 757.7 1260 NYMEX CRUDE DEC9 54.04 -0.44 53.97 54.31 17265 ($1 = 4.1925 ringgit) (Reporting by Fathin Ungku Editing by Subhranshu Sahu)
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FATABA Supreme	24-Oct-2019 21:33        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Thanks,  wow didnt factor in the weakness of the R$....outweight the fear of India demand. Interesting..  CheeryVGoh      ( Date: 24-Oct-2019 17:43) Posted: * Palm oil hits highest since June 12 last year * Worries over demand from India limit upside KUALA LUMPUR, Oct 23 (Reuters) - Malaysian palm oil futures jumped nearly 2% in early trade on Wednesday and hit their highest in more than 16 months due to sharp gains in rival oilseeds and a weaker ringgit, though worries over demand from India capped gains. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 1.3% at 2,348 ringgit ($560.05) per tonne by midday, after rising to their highest since June 12 last year at 2,359 ringgit earlier in the session. Strength in soyoil and palm oil on the Dalian Commodity Exchange, coupled with a weaker ringgit, outweighed worries around a boycott by Indian buyers, a Kuala Lumpur-based trader told Reuters. Dalian' s January palm oil contract rose 2.2%, while the January soyoil contract climbed 1.2%. U.S. soyoil futures on the Chicago Board of Trade were up 0.3%. Palm oil is affected by price movements in related oils as they compete for share in the global vegetable oils market. The ringgit was down 0.1% against the dollar, making palm oil cheaper for holders of foreign currencies. Palm slipped to as low as 2,263 ringgit in the previous session after India' s top vegetable body asked its members to stop buying the edible oil from Malaysia over Prime Minister Mahathir Mohamad' s comments on Kashmir. Some Indian traders said refiners had already stopped buying Malaysian palm oil for shipment in November and December, fearing higher import taxes or other measures. Palm, soy and crude oil prices at 0432 GMT Contract Mont Last Change Low High Volume h MY PALM OIL JAN0 2255 +19.00 2255 2272 356 MY PALM OIL DEC9 2303 +30.00 2297 2317 1865 MY PALM OIL JAN0 2346 +29.00 2340 2359 11880 CHINA PALM JAN0 4944 +106.00 4880 4974 788712 OLEIN CHINA SOYOIL JAN0 6114 +70.00 6046 6136 574214 CBOT SOY OIL DEC9 30.95 +0.10 30.8 31 4249 INDIA PALM OCT9 565.30 +3.10 564.20 565.7 139 OIL INDIA SOYOIL NOV9 756.85 +0.70 756.2 757.7 1260 NYMEX CRUDE DEC9 54.04 -0.44 53.97 54.31 17265 ($1 = 4.1925 ringgit) (Reporting by Fathin Ungku Editing by Subhranshu Sahu) CheeryVGoh      ( Date: 24-Oct-2019 13:39) Posted: China buying more of the Malaysian palm oil I think.
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CheeryVGoh Supreme	24-Oct-2019 17:43        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	* Palm oil hits highest since June 12 last year * Worries over demand from India limit upside KUALA LUMPUR, Oct 23 (Reuters) - Malaysian palm oil futures jumped nearly 2% in early trade on Wednesday and hit their highest in more than 16 months due to sharp gains in rival oilseeds and a weaker ringgit, though worries over demand from India capped gains. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 1.3% at 2,348 ringgit ($560.05) per tonne by midday, after rising to their highest since June 12 last year at 2,359 ringgit earlier in the session. Strength in soyoil and palm oil on the Dalian Commodity Exchange, coupled with a weaker ringgit, outweighed worries around a boycott by Indian buyers, a Kuala Lumpur-based trader told Reuters. Dalian' s January palm oil contract rose 2.2%, while the January soyoil contract climbed 1.2%. U.S. soyoil futures on the Chicago Board of Trade were up 0.3%. Palm oil is affected by price movements in related oils as they compete for share in the global vegetable oils market. The ringgit was down 0.1% against the dollar, making palm oil cheaper for holders of foreign currencies. Palm slipped to as low as 2,263 ringgit in the previous session after India' s top vegetable body asked its members to stop buying the edible oil from Malaysia over Prime Minister Mahathir Mohamad' s comments on Kashmir. Some Indian traders said refiners had already stopped buying Malaysian palm oil for shipment in November and December, fearing higher import taxes or other measures. Palm, soy and crude oil prices at 0432 GMT Contract Mont Last Change Low High Volume h MY PALM OIL JAN0 2255 +19.00 2255 2272 356 MY PALM OIL DEC9 2303 +30.00 2297 2317 1865 MY PALM OIL JAN0 2346 +29.00 2340 2359 11880 CHINA PALM JAN0 4944 +106.00 4880 4974 788712 OLEIN CHINA SOYOIL JAN0 6114 +70.00 6046 6136 574214 CBOT SOY OIL DEC9 30.95 +0.10 30.8 31 4249 INDIA PALM OCT9 565.30 +3.10 564.20 565.7 139 OIL INDIA SOYOIL NOV9 756.85 +0.70 756.2 757.7 1260 NYMEX CRUDE DEC9 54.04 -0.44 53.97 54.31 17265 ($1 = 4.1925 ringgit) (Reporting by Fathin Ungku Editing by Subhranshu Sahu) CheeryVGoh      ( Date: 24-Oct-2019 13:39) Posted: China buying more of the Malaysian palm oil I think. FATABA      ( Date: 24-Oct-2019 13:08) Posted: But U tot Msia is going to hv issue w India .....certainly their palm oil will be much affected.
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CheeryVGoh Supreme	24-Oct-2019 13:39        CheeryVGoh About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	China buying more of the Malaysian palm oil I think. FATABA      ( Date: 24-Oct-2019 13:08) Posted: But U tot Msia is going to hv issue w India .....certainly their palm oil will be much affected.  Octavia      ( Date: 24-Oct-2019 12:49) Posted: Palm oil jumps to 16-month high as China&rsquo s waivers boost soy KUALA LUMPUR: Palm oil futures surged to their highest level since June last year at RM2,359 a tonne on Wednesday as a Chinese decision to waive retaliatory tariffs on purchases of US soybeans boosted prices of rival soybean oil. The market is supported by the runup in soyoil futures on the Chicago Board of Trade and the Dalian Commodity Exchange following news that China granted the licences, said Sathia Varqa, owner of Palm Oil Analytics in Singapore. US soybean and soyoil prices rose overnight after China granted a fresh round of waivers for 10 million tons of American beans. Exemptions were issued to Chinese state-owned and private crushers as well as multinational processors based in the nation, people familiar with the matter told Bloomberg.   There&rsquo s also optimism that biodiesel blending in Malaysia and Indonesia will increase, starting next year, said Rajesh Modi, a trader at Sprint Exim Pte in Singapore. Primary Industries Minister Teresa Kok said on Tuesday that implementation of the 20% biodiesel blending mandate in Malaysia will boost local consumption of palm-biofuel to 1.3 million tons a year. The market is getting help too from data showing palm exports to China from Malaysia, the second-biggest producer, surged about 42% from a month earlier to 164,838 tons in the first 20 days of October, according to estimates by independent cargo surveyor SGS Malaysia Sdn Bhd. China could potentially buy more palm oil from Malaysia if prices fall due to trade frictions between India and the Southeast Asian nation, Oscar Tjakra, senior analyst for grains and oilseeds at Rabobank, said on Tuesday. Traders and investors remained cautious as an influential Indian processors&rsquo group has asked members to refrain from buying from Malaysia because of critical comments by Prime Minister Tun Dr Mahathir Mohamad over Kashmir.- Bloomberg Read more at https://www.thestar.com.my/business/business-news/2019/10/23/palm-oil-jumps-to-16-month-high-as-chinas-waivers-boost-soy#KCQujWsVtvMl8sMo.99
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