20121106 1447 Palm Oil Related News.

Reuters Survey :
Malaysia Oct 2012 Crude Palm Oil
- Exports seen up 12% at 1.69 million tonnes from Sep 2012
- Stocks seen up 7.5% at 2.67 million tonnes from Sep 2012
- Output seen down 2.2% at 1.96 million tonnes from Sep 2012


VEGOILS-Palm oil recovers from 3-wk low, stockbuild caps gains
Tue Nov 6, 2012 12:55am EST
* Prices recover from Monday's low at 2,381 ringgit, weakest
since Oct. 12
    * Gains capped by stockpile concerns, U.S. elections
    * Palm oil to rebound to 2,470 ringgit -technicals

 (Updates prices, adds details)
    By Chew Yee Kiat
    SINGAPORE, Nov 6 (Reuters) - Malaysian palm oil futures
edged up on Tuesday, recovering from their lowest in more than
three weeks the previous day, although gains were capped by
concerns over stockpiles and uncertainty ahead of the U.S.
elections.
    Investors also turned their focus to the risk from floods in
Malaysia that could hamper production and ease pressure on
swelling stocks in the world's No.2 producer, but fears remained
that inventory could still climb to a fresh high.
    Industry regulator the Malaysian Palm Oil Board (MPOB) will
issue October stocks data on the coming Monday.
    "Everybody is looking at the MPOB number that is expected to
reach 2.7 million tonnes, and the market is reacting badly to
that," said James Ratnam, an analyst with Malaysia's TA
Securities.
    "So far I have not heard of any big impact from the flood.
This is still a very early stage. The flood usually happens at
the end of the year, and depending on the strength, it could
disrupt supply and support prices."
    By the midday break, the benchmark January contract
on the Bursa Malaysia Derivatives Exchange edged up 0.2 percent
to 2,416 ringgit ($789) per tonne. Prices on Monday fell to
2,381 ringgit, the weakest since Oct. 12.
    Total traded volumes stood at 10,025 lots of 25 tonnes each,
a touch lower than the usual 12,500 lots, as traders were
cautious ahead of the U.S. elections.
    President Barack Obama and Republican challenger Mitt Romney
were essentially deadlocked on election eve, polls show, raising
concerns of a cliff-hanger delaying the outcome and roiling
markets, as it did during the extended presidential battle in
2000.
    Technicals showed palm oil could stage a rebound to 2,470
ringgit as a fall from the Oct. 25 high of 2,615 ringgit has
temporarily ended, said Reuters market analyst Wang Tao.

    In related markets, Brent oil traded in a tight range below
$108 per barrel on Tuesday, caught between uncertainty ahead of
the U.S. elections and renewed worries about Greece and the euro
zone crisis, which could delay a global economic recovery and
hurt oil demand.
    Other vegetable oil markets also recovered from the previous
day's losses. U.S. soyoil for December delivery edged up
1.2 percent in early Asian trade, while the most active May 2013
soybean oil contract on the Dalian Commodity Exchange
inched up 0.4 percent.  


Monthly palm oil exports from Indonesia fall 2 pct m/m in Sept
06-Nov-2012 13:18
JAKARTA, Nov 6 (Reuters) - Palm oil exports from Indonesia, the world's top producer, slipped 2 percent to 1.381 million tonnes in September compared to the previous month, industry data showed on Tuesday.
This year, palm oil output will be between 23 million and 25 million tonnes, with around 18 million tonnes exported.
Indonesia's top customers for the edible oil include India, China and Europe.
In January-September, exports to India totalled 4.143 million tonnes, with China shipping 2.183 million tonnes, the European Union 2.849 million tonnes and Pakistan 611,390 tonnes.