Thursday, October 28, 2010

20101028 1818 FCPO EOD Daily Chart Study.

FCPO closed : 3085, changed : +48 points, volume : higher.
Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 3070, 3050, 3020 level.
Resistant : 3100, 3150, 3200 level.
Comment :
Break new high FCPO recorded gained today recovered all last 2 days losses with improving volume changed hand due weaker US Dollar and a resume higher soy oil futures price. Daily chart formed a up bar candle within narrowing Bollinger band width with the reading remained suggesting a correction range bound upside biased market testing support and resistant level. 
When to buy : buy at support and weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101028 1732 FKLI EOD Daily Chart Study.

FKLI closed : 1503, changed : +3.5 points,  volume : lower.
Bollinger band reading : correction range bound upside biased.
MACD Histrogram : recovering, buyer has no intention to leave.
Support : 1500, 1485, 1470 level.
Resistant : 1530, 1550, 1580 level.
Comment :
FKLI finally managed to close above 1500 crucial resistant level recorded marginal gain with lesser volume traded. Daily chart formed the fourth doji bar candle traded within the narrowing Bollinger band indicates that market still in consolidation phase and likely stay range bound upside biased.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101028 0942 Local & Global Economics News.

Malaysia: To sign FTA with India
An India-Malaysia free trade deal is expected to almost double trade by 2015, allowing them to reduce dependence on traditional growth engines such as China and US. The trade agreement will be signed by 31 Jan 2011 and come into force by 1 July. The two countries said they would work together to develop the hydrocarbons and renewable energy industries and collaborate in banking and information technology. (Financial Daily)

Australia: Less-than-forecast inflation is RBA ‘vindication’
Australian consumer prices rose less than forecast last quarter, driving down the nation’s currency as traders unwound bets the central bank will raise interest rates next week. The consumer price index rose 0.7% from the second quarter, the Bureau of Statistics said. That was less than the 0.8% median estimate in a Bloomberg News survey of 24 economists. The central bank’s measures of core inflation showed annual price increases slowed last quarter. (Bloomberg)

Germany: Inflation held steady in October after Euro appreciated
German inflation held steady in October as a stronger euro helped counter higher energy prices. The inflation rate, calculated using a harmonized European method, stayed at 1.3%, the Federal Statistics Office in Wiesbaden said. That was in line with the median of 21 estimates in a Bloomberg News survey of economists. In the month, prices rose 0.1%. (Bloomberg)

US: Sales of US new homes increase for second month
Sales of new homes rose in September for a second month to a pace that signals the industry is struggling to overcome the effects of a jobless rate hovering near 10%. Purchases increased 6.6% to a 307,000 annual rate that exceeded the median forecast of economists surveyed by Bloomberg News, figures from the Commerce Department showed in Washington. Demand is hovering near the record-low 282,000 reached in May. (Bloomberg)

US: Orders for US durable goods probably climbed, boosting growth
Orders for US durable goods probably climbed in September by the most in five months, a sign business investment is underpinning the recovery, economists said. Bookings for goods meant to last at least three years increased 2%, according to the median forecast of 76 economists surveyed by Bloomberg News. Another report may show sales of new houses rose last month to a 300,000 annual rate, hovering near a record low. (Bloomberg)

20101028 0940 Malaysia Corporate News.

India PM urges Malaysian firms to tap USD1trn infra market
India PM Dr Manmohan Singh is encouraging Malaysian companies to participate in the potential infrastructure investment of about USD1tn under India's 12th Five Year Plan starting 2012. Its 11th Five Year Plan that ends next year has targeted investment in infrastructure of USD500bn but the sum was anticipated to double as inadequate infrastructure was a major constraint to India's performance. (BT)

More investments from India on the way
In line with India PM Dr Manmohan Singh’s visit to Malaysia, a few key investments from Indian companies have been announced. These include Biocon Ltd’s RM500m investment for a biomanufacturing, research and development facility in Iskandar Malaysia due to start operating by 2014 and Manipal Education’s RM650m investment over a 5-year period to build an international university in the vicinity of KL. (BT, Bernama)

Presentations made on KL-Singapore high speed train project
Several companies made presentations to the NKEA about three months ago on the Kuala Lumpur-Singapore high-speed train project, industry sources say. Among them were YTL Corp and Hartasuma SB, which was said to be partnering a Chinese state-owned firm. Some of the companies have proposed to undertake the highspeed rail project for between RM8bn and RM14bn. A Government source said the project could be worth RM10bn to RM12bn, and that it would take five to eight years to complete as it will cover 300km. (BT)

EPF-UEM offer leaves major PLUS investor cold
A major shareholder of PLUS Expressways is "not happy" with the EPF-UEM Group's takeover price for the firm, and may consider other bids, two sources say. KWAP, the civil servants' pension fund which owns a 5.2% stake in PLUS, believes that PLUS deserves a better price, said the sources, who have direct knowledge of the matter. (Reuters)

MK Land clinches RM4bn project in Bangalore
MK Land sealed an agreement with Embassy Group of India to develop a RM4bn “affordable homes” project in North Bangalore, India. The development will comprise 14,400 residential units with 2m square feet of commercial space. It will be carried out by MK Embassy Land, which is a joint venture between MK Land (47.5%), Embassy Group’s subsidiary Star Dreams Pte Ltd (47.5%), and Emkay Group’s subsidiary, MKN Embassy Development (5%). (Financial Daily)

Naim gets RM168m job in Sarawak
Naim Holdings’ wholly owned subsidiary NCSB Engineering SB has been awarded a RM168m contract by Jabatan Kerja Raya, Kuching. The contract is for the design and construction of the Bengoh Resettlement Scheme. (Financial Daily)

Exciting times ahead for Dialog
Dialog Group is gearing up for exciting times ahead with the multi-billion-ringgit independent deepwater petroleum terminal project at Pengerang, Johor, which will turn it into a regional oil storage and trading hub by 2017. “There are tremendous spinoff opportunities from the Pengerang project and it may eventually attract total combined investments of up to another RM95bn from other companies and O&G industries,” MD Ngau Bonn Keat said. (Financial Daily)

Tanjung Offshore gets RM22m vessel contract
Tanjung Offshore has received a RM22m contract from Carigali-PTTEPI Operating Company SB to supply a tug and utility vessel. The contract was for a primary duration of three years. The vessel would be used to support the offshore operations in block B-17 in the Malaysia-Thailand Joint Authority development area. (Financial Daily)

20101028 0911 Renewable Energy Related News.

Despite this is not related to FKLI or FCPO, the below news is just for sharing purpose as I think our country Malaysia possess a high potential in this industry.

CHINESE FIRM EYES NORWAY'S SOLAR FIRM ELKEM-SOURCES
HONG KONG, Oct 26 (Reuters)- China National BlueStar, a state-run specialty chemicals company backed by U.S. private equity firm Blackstone Group , is in talks to acquire part or all of Norwegian solar silicon product maker Elkem AS, according to three sources familiar with the matter.
An Elkem takeover could cost BlueStar around $1 billion based on the Norwegian company's financial figures and analysts notes.

INDIA AIMS TO ADD 35 GW CLEAN ENERGY BY 2015 - OFFICIAL
NEW DELHI, Oct 26 (Reuters) - India aims to add about 35 gigawatts of renewable power generation capacity by 2015, a top official said on Tuesday, at an investment of about $55 billion as the country seeks to cut a power deficit and carbon emissions.
Most of the investment has to come from private firms, said Debashish Majumdar, head of Indian Renewable Energy Development Agency. India's current generation from renewables is 16.5 GW.

U.S. APPROVES WORLD'S BIGGEST SOLAR POWER PROJECT
WASHINGTON, Oct 25 (Reuters) - The world's biggest solar plant that plans to provide power to more than 300,000 homes in southern California was approved by the U.S. Interior Department on Monday.
The $6 billion, 1,000-megawatt project, a joint venture of Solar Millennium AG  and Ferrostaal AG, will be located on federal lands near Blythe, in the southern tip of California.


INTERVIEW-SOLAR SEEN KEY TO GULF'S RENEWABLES EFFORT
ABU DHABI, Oct 25 (Reuters) - Promoting solar energy in the Gulf, which has one of the world's biggest carbon footprints, will be a priority for the International Renewable Energy Agency (IRENA), its new interim director-general said.
Securing Saudi Arabia's participation in the intergovernmental organisation will also be a major target, IRENA's Adnan Amin told Reuters in an interview on Monday, adding that he hoped the world's largest crude oil exporter would become a signatory by next April.

SPAIN'S GAMESA SAYS TO BUILD OFFSHORE WIND FACTORY IN UK
LONDON, Oct 25 (Reuters) - Spain's Gamesa  will open an offshore wind turbine factory and research centre in Britain, creating more than 1,000 direct jobs, the company said on Monday.
The company will invest 150 million euros until 2014 and base the global headquarters of its offshore division in London, Gamesa said, confirming a report from Reuters earlier this month.

S.AFRICA TO INVEST $115 BLN IN POWER -ZUMA
ERMELO, South Africa, Oct 23 (Reuters) - South Africa plans to spend more than 800 billion rand ($115 billion) on power generation infrastructure in the next few years to encourage more foreign investment, President Jacob Zuma said on Saturday.
"We are poised to spend more than 800 billion rand on infrastructure in the next few years," Zuma said at a ceremony to mark the recommissioning of national power utility Eskom's [ESCJ.UL] Camden power station.

INTERVIEW-KENYA HAS $400 MLN IN PLEDGES FOR GEOTHERMAL
NAIROBI, Oct 22 (Reuters) - Kenya's Geothermal Development Company (GDC) said on Friday it has pledges worth $400 million, 40 percent of the amount it needs for a 10-year plan during which it intends to produce 2,000 megawatts (MW) of steam.
"There is a lot of excitement in terms of the support that we are getting from outside," GDC Managing Director Silas Simiyu told Reuters. "When we came up with our business plan and we talked of 5,000 MW by 2030, it was thought that the plan was very ambitious."

INTERVIEW-LDK SOLAR SEES STRONG 2011 ORDER BOOK
SHANGHAI, Oct 21 (Reuters) - Solar wafer manufacturer LDK Solar  has a strong order book for 2011 as global demand remains strong and is likely to revise up its full-year revenue target.
Chairman and chief executive Peng Xiaofeng, 35, one of the world's youngest billionaires, told Reuters in a telephone interview on Thursday that sales to China would reach 50 percent of its total in the next two years from 30 percent.

OFFSHORE WIND MKT SEEN DOUBLING IN 2010-CONSULTANT
COPENHAGEN, Oct 20 (Reuters) - The global offshore wind turbine market is expected to almost double this year after record growth last year and is seen expanding briskly to 2015, Denmark's MAKE Consulting said on Wednesday.
Last year the offshore turbine market grew by 80 percent from 2008, with 620 megawatts of capacity installed and the total installed base rising above 2 gigawatts, the wind energy specialist said in a preview of a new report.

ANALYSIS-INVESTORS LOOK BEYOND SOLAR MODULES
LOS ANGELES, Oct 20 (Reuters) - Rapid growth in the U.S. solar power industry and rising share prices of panel makers have shone a spotlight on consolidation in the sector, but deals are most likely for companies that build renewable power plants or make the panels more efficient.
Large established companies such as First Solar  and SunPower Corp  will be leading the charge, analysts say.

20101028 0906 Biofuel Related News.

GERMANY TO RAISE BIOETHANOL BLENDING IN GASOLINE
HAMBURG, Oct 25 (Reuters) - The German cabinet will vote on Wednesday on a proposal to raise the maximum level of bioethanol allowed in blended gasoline to 10 percent in January 2011 from 5 percent now, the country's environment ministry said on Monday.
The move is part of Germany's efforts to meet European Union plans to raise biofuel use to protect the environment, it said.

PETROBRAS SIGNS $1.2 BLN ETHANOL DEAL WITH TEREOS
SAO PAULO, Oct 25 (Reuters) - Brazil's state-run oil giant Petrobras  said on Monday it signed a 2.1 billion-real ($1.23 billion) agreement with Tereos International to secure the supply of ethanol.
The deal will bring Petrobras a step closer to reaching its goal of becoming a leading player in the global biofuels sector.

SPAIN TO UP BIOFUEL MIX IN FUELS TO 6.1 PCT BY 2013
MADRID, Oct 22 (Reuters) - Spain's industry ministry said on Friday it planned to increase the minimum proportions of biofuels to be mixed with conventional fuels to 6.1 percent in 2013 from 5.83 percent in 2010.
The increase in requirements to mix biofuels with conventional fuels -- known as minimum blend -- will take place gradually, reaching 5.9 percent in 2011, and 6.0 percent in 2012, the ministry said in a statement.

US OFFERS $1.5 BLN AID FOR BIOFUEL PRODUCTION
WASHINGTON, Oct 21 (Reuters) - The government is offering more than $1.5 billion in assistance, from field to filling station, to bring next-generation biofuels to market, Agriculture Secretary Tom Vilsack said on Thursday.
Vilsack said the aid would assure renewable fuel consumption reaches 36 billion gallons by 2022, with the bulk of it coming from non-food sources such as grass, algae or woody plants.

US TO SUBSIDIZE FARMERS TO GROW NEW BIOFUEL CROPS
WASHINGTON, Oct 20 (Reuters) - The U.S. government plans a half billion dollars in subsidies to help farmers grow the next generation of biomass crops -- switchgrass and woody plants instead of corn, farm lobbyists and congressional staff workers told Reuters.
Agriculture Secretary Tom Vilsack will announce the subsidy program on Thursday, they said. An estimated $525 million would be paid over 15 years to defray farmers' costs.

U.S. ETHANOL MAKERS SEEK RENEWAL OF TAX BREAKS
WASHINGTON, Oct 19 (Reuters) - Attacked as subsidy addicts, U.S. ethanol makers may need help from friends in high places, including the White House, to hold on to lucrative tax breaks set to expire at the end of the year.
The industry says it is ready to discuss revisions in the incentives, worth $6 billion a year. An amalgam of foodmakers, livestock producers, environmentalists and deficit hawks say there is no need for subsidies because biofuels are guaranteed by law a share of the motor fuel market.

BIOFUELS ONLY PARTLY TO BLAME FOR HIGH FOOD PRICES
CHICAGO, Oct 19 (Reuters) - Rising biofuel demand is among multiple factors fueling food inflation around the globe, but markets today are more able to manage that impact than in 2007, when an aggressive U.S. government mandate sent prices soaring, an agriculture industry executive said on Tuesday.
U.S. corn prices this month revisited levels not seen since the months after the amended Renewable Fuels Standard was signed into law, rekindling the debate about whether food products should be used to make fuel.

20101028 0905 Global Market News.

Oil edges higher as dollar weakens, U.S. gasoline stocks drop
SINGAPORE, Oct 28 (Reuters) - Oil gained as the dollar weakened and U.S. gasoline stockpiles posted a surprise drop, while doubts lingered about the size of expected monetary stimulus by the Federal Reserve.
"I see the decline in gasoline stocks as quite positive for the oil market, especially because we don't usually see these drops this time of year," said Ben Westmore, a commodities analyst at National Australia Bank.

Gold inches higher as markets eye Fed move
SINGAPORE, Oct 28 (Reuters) - Gold prices inched higher, and the dollar edged lower, as investors reassessed expectations of the Federal Reserve's decision next week on monetary easing.
"Gold prices are likely to be rangebound in the short term, as investors wait for the Fed's decision next week. We've seen different opinions on what the Fed would do and how the dollar would move," said Zhu Yilin, general manager of the research and development department of Jingyi Futures in Shanghai.

OIL: Crude steady, capped by sagging U.S. demand
SINGAPORE, Oct 28 (Reuters) - Oil edged higher as the dollar weakened on Thursday, but gains were limited by government data showing U.S. demand receded last week, raising questions about how much expected monetary stimulus would lift consumption.
Total U.S. product demand fell 0.3 percent in the four weeks to Oct. 22 from a year earlier, the Energy InformationAdministration reported on Wednesday, with gasoline use down 0.8 percent in the period.

COMMODITY MARKETS: Ends down as dlr up on Fed stimulus rethink
NEW YORK, Oct 27 (Reuters) - Most commodities fell on Wednesday, hurt by a strong dollar and risk reduction by those fearing the U.S. Federal Reserve may be less aggressive than previously thought in efforts to stimulate the economy.
"Given the price action, we can assume they (investors) are trimming those short dollar bets," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.

GLOBAL MARKETS: Dollar up; stocks, commodities down, eyes on Fed
NEW YORK, Oct 27 (Reuters) - The dollar rose while stocks and commodities fell on Wednesday on doubts over how aggressively the Federal Reserve is going to attempt to stimulate the flagging U.S. economy.
"The dollar's slide since September has been pricing in aggressive price action by the Fed to around $1 trillion," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.

U.S. consumer confidence, home prices remain weak
NEW YORK, Oct 26 (Reuters) - Data on Tuesday underscored the fragility of the U.S. economic recovery, with consumer confidence rising but still weak and home prices falling again after gaining earlier in the year.
The reports reinforced the belief the U.S. Federal Reserve will embark on another round of monetary policy stimulus to support the economic recovery, possibly as soon as next week.

PRECIOUS-Gold eases as dollar firms, WSJ predicts gradual QE
LONDON, Oct 27 (Reuters) - Gold eased towards $1,330 an ounce in Europe on Wednesday as the dollar firmed versus the euro after a report said the Federal Reserve would likely adopt a gradual approach to further U.S. monetary easing.
"I think the Fed won't go as big on QE2 as people have been expecting, and i think the dollar (will) firm into year-end," said Simon Weeks, head of precious metals at the Bank of Nova Scotia. "It's just a question of time before we are lower."

FOREX-Dollar gains as short positions cut before Fed
LONDON, Oct 27 (Reuters) - The dollar rose broadly on Wednesday as signs the U.S. Federal Reserve would take a more gradualist approach than expected to new quantitative easing next week prompted players to liquidate some short dollar positions.
"There is a sense that the Fed might go for QE light, rather than a second round of shock and awe," said Michael Derks, currency strategist at FXPro.

Doubts on Fed lift dollar, hurt stocks
LONDON, Oct 27 (Reuters) - Doubts over how aggressively the U.S. Federal Reserve is going to stimulate a flagging recovery with another round of money-printing weighed on world equities and commodities while boosting the dollar.
"Underlying sentiment has clearly deteriorated ... the market is moving away from the expectation of a huge initial increase in QE to this rather incremental approach," said Nick Stamenkovic, rate strategist at RIA Capital Markets in Edinburgh.

20101028 0902 Soy Oil & Palm Oil Related News.

Soy product futures ended higher, rising in unison with soybean futures. The markets managed to bounce back from initial setbacks, as strength in beans amid strong underlying export demand supported prices throughout the soy complex, analysts said. Dec soyoil settled 0.07c or 0.1% higher at 49.60 cents a pound. Dec soymeal ended $0.40 or 0.1% higher at $335.90 a short ton. (Source : CME)

Argentina Seen Setting New Crop Records - Official (Source : CME)
Argentina' farmers are on track to break the record grain output seen last season, with production topping 100 million tons, the country's Vice Minister of Agriculture, Lorenzo Basso, said in an interview. With soybean planting just kicking off, conditions are ideal after recent showers and prices are sky-high right now. Basso estimated that production would set a new record of 55 million metric tons this season. Virtually all of that will be exported as either beans, meal or oil, he said. Argentina is the world's third largest soybean exporter after the U.S. and Brazil. Argentina leads the world in soymeal and soyoil exports. Basso also said that China had resumed heavy soyoil buying after lifting a block on the trade earlier this month. The Chinese are likely to end the year with purchases similar to those in 2009, he added. China is the largest importer of soyoil and dealt Argentine exporters a stinging blow earlier this year when it blocked soyoil imports from Argentina, citing sanitary reasons.
However, the move was widely seen as retaliation for barriers imposed on Chinese goods by Argentina amid a host of anti-dumping investigations. Argentina, the world's third-largest corn exporter, is also set to smash last year's corn record, with between 26 million and 27 million tons grown, Basso said. That would be up sharply from the 22.5 million tons grown last year, according to the U.S. Department of Agriculture. About two-thirds of the corn crop has been planted to date and conditions are good after recent showers. Basso said that about 70% of the corn crop would likely be cleared for export after about 8 million tons are set aside for domestic consumption. Argentina tightly regulates corn and wheat exports, only granting export permits once it has confirmed sufficient stocks for local residents. While farmers worry that dry weather towards the end of the year due to the La Nina weather phenomenon may affect the crops, for now soil moisture levels are excellent across much of the farm belt.
That has boosted prospects for the developing wheat crop, with Basso estimating production of about 13 million tons. That's up a million tons from the Agriculture Ministry's current forecast. Of that crop, Argentina, one of the world's leading wheat exporters, will likely ship almost 7 million tons, with most going to Brazil. Basso estimated domestic consumption next year at 5.5 million to 6 million tons.

Rising Food Costs: Hot Potato In China (Source : CME)
China's hunger is pushing prices of food commodities sharply higher lately. Back home, this boom is becoming a source of worry. Over the next decade, China's annual grain demand is likely to reach 573 million tons, which is above its current production levels. Beijing may swiftly become more reliant than ever on global markets for a class of commodities it is desperate to keep mostly home-grown. Soybeans traded in Chicago are at the highest price in 14 months, largely because of the strength of Chinese demand. Palm oil on the Malaysia Derivatives Exchange breached a 27-month peak this week. Thai rice prices are nearing a six-month high. Inside China, this already has gone from just market play to a matter of public interest. In October, the price of staples such as cooking oil and sugar sold in China's supermarkets jumped 10% to 13%. News of food shortages -- in corn, wheat, garlic, mung beans and sugar -- have dominated local headlines this year.
Food is a political hot potato, and accounts for a third of the basket of goods used to calculate inflation. So far, the government has chosen to respond within markets. It has auctioned millions of tons in reserves of grain, cooking oil, sugar and cotton, and publicly threatened to punish "speculators." Last week, the central bank raised interest rates, in part to slow price gains. Nonetheless, the gains have been accelerating. True, the last reported inflation rate -- 3.6% in September -- was still well below the 12-year high of 8.7%, touched in early 2008, but food-price increase are back at those high rates. Back then, Beijing imposed price caps on grains, edible oils, meat, milk and eggs to bring inflation back to an even keel. It took a year and a global financial crisis before the caps were lifted. Certainly, that is bitter medicine, which limits efficiency and risks hurting product quality.
But with the world betting on a richer, hungrier giant, the government knows the danger of inflation -- and the difficult job of controlling it -- is back.

Palm extends losses on dollar; China soyoil off 2-yr top
KUALA LUMPUR, Oct 27 (Reuters) - Malaysian palm oil extended losses and China's soyoil market tumbled from two-year highs as a stronger dollar made commodities priced in the currency expensive and unattractive as an inflation hedge.
"Palm oil followed a correction of China's soyoil and profit taking on a stronger dollar," said a trader in Kuala Lumpur.

China buys more Argentina soyoil as price rises-CNGOIC
BEIJING, Oct 27 (Reuters) - Chinese companies booked about 250,000 tonnes of soyoil this week, mainly from Argentina, for March-to-May shipment after Beijing lifted a ban on imports from the world's largest exporter, an official think tank said.
Some of the shipments could come from Brazil as an alternative supplier, the China National Grain and Oils Information Centre (CNGOIC) said in a report on its website (www.grain.gov.cn) on Wednesday.

China soy crush output to top 95 mln T 2010/2011-CNGOIC
BEIJING, Oct 27 (Reuters) - China will add 11 million tonnes of new soy crush capacity in 2010/2011 (Oct/Sept), with total crushing capacity to top 95 million tonnes annually, said the China National Grain and Oils Information Centre (CNGOIC).
The capacity expansion has boosted China's increase of soy imports,the centre said in a report on its website (www.grain.gov.cn).

Renewed rains seen replenishing Argentine soils
BUENOS AIRES, Oct 26 (Reuters) - Rains in Argentine corn and soy-farming regions over the last week should replenish soil moisture levels and help crops withstand drier conditions caused by the La Nina weather anomaly, a metrologist said onTuesday.
The South American country is the No. 1 global supplier of soyoil and soymeal and the third-biggest exporter of uncrushed beans, so markets are closely watching for any signs of dry conditions that could harm crops.

Siat's Ghana palm oil to go green in 2011
LONDON, Oct 26 (Reuters) - African palm oil producer Siat Group is set to get its Ghanaian output certified as sustainable by early next year, the Brussels based firm said on Tuesday.
The Roundtable on Sustainable Palm Oil (RSPO), an industry body of consumers, green groups and plantation companies, was formed in 2004 and aims to promote growth and use of sustainable oil palm products.