The gold price fell well below the mark of 1700 dollars late in the evening. “The worries about US debt have added to the risk aversion,” said Eugen Weinberg, commodities analyst at Commerzbank.
The futures contract traded in Kuala Lumpur on the vegetable fat used as food and bio-fuel rose by up to three percent, heading for the biggest daily gain in around a year. The price of the ringgit fell to a four-month low and thereby made Palm oil more attractive for foreign investors. Malaysia is the world’s second largest producer of this vegetable fat. Source: ntv.de “Floods in Asia, drought in South America – some of the reasons for the sometimes significant crop losses. These lead to rising food prices, which in turn lead to political unrest in North Africa and the Middle East All of this can be seen in the price explosion for palm oil. (Photo: REUTERS) The unrest in North Africa and the Middle East threatens to further fuel demand for palm oil.
Because in the fight against rising food prices, some states are likely to buy more of the edible oil in order to pass it on to their own people at a cheaper price. The rise in the price of bread and other food is one reason for the protests between Morocco and Oman. “The demonstrations in Egypt will induce some countries to think about direct purchases of raw materials and thus to get inflation under control in their own country.” says analyst Leonardo Gavaza of Bahan Securities. “The Indonesian government is already urging the plantation owners to increase palm oil production.” “We are at a crossroads,” warns analyst Abah Ofon of the Standard Chartered Bank in Singapore. A strike in the main Argentine soy loading port and the impending flooding in Malaysia and Indonesia could push prices up further. “If this issue is not dealt with carefully, it could trigger a violent reaction from voters in some of the major importing nations.” (Photo: REUTERS) According to the Food and Agriculture Organization (FAO), food prices were higher than ever in January.
An end is not yet in sight. In 2008, a similar rise in the price of staple foods led to riots in several states. The futures contract on palm oil traded in Kuala Lumpur has risen by around two thirds to the current 3895 ringgit (around 940 euros) per tonne since last summer. However, the price is still around 13 percent below its record high of March 2008.
Soybean oil, which is also used both as a food and as a bio-fuel, has increased in price by a similar rate to currently 58.77 US cents a pound. In contrast to the price explosion in 2008, the demand for biofuels and the interest of speculative investors are irrelevant. The increasing demand is offset by a poor harvest. Heavy rains in Malaysia, the world’s second largest palm oil producer, flooded plantations and blocked transport routes.https://123helpme.me/biology-essay-writing-service/ According to the regulatory authority, stocks there have already melted to a five-month low of 1.6 million tons. Experts expect a further decline in February. “The weather problems will persist, especially in Malaysia,” emphasizes a stockbroker. Argentina, on the other hand, suffers from too little rain, the world’s number one soybean oil producer.
According to an estimate by the local agricultural exchange, the harvest of the 2010/2011 season will be a million tons lower than previously thought. Source: ntv.de, rts “For a handful of beans … (Photo: REUTERS) It will be harvested – but At least in the case of cocoa, this is probably too fast. According to market participants, this is causing the price to tumble. In the case of palm oil, on the other hand, the fear of falling demand is a burden.
In the case of oil, copper and gold, the debt problem is striking again. In view of the worsening debt problems in the euro zone and the USA, investors in the commodities market did not venture any big leaps on Monday. Concerns about a significant slowdown in the economy in the industrialized nations and the resurgence of the dollar weighed on prices in the major asset classes. The price of copper fell to its lowest level in almost a month.
Gold and oil also became cheaper. the price of gold fell well below the mark of $ 1700 late in the evening. “Concerns about US debt have added to risk aversion,” said Eugen Weinberg, a commodity analyst at Commerzbank. The crisis in the euro zone continues and the stock markets are in a clear downward trend. The Dax fell to its lowest level in six weeks, while the dollar index, which is calculated on a basket of other major currencies, also climbed to its highest level in six weeks. “There are significant economic problems in Europe, the US and China, and we don’t know how that will play out, “said Matthew Turner of Mitsubishi Corp. “It’s uncertainty that meets uncertainty. Many investors stay on the sidelines.” The price of copper fell by up to 2.7 percent to $ 7,320 per ton. Gold fell in price by up to 1.5 percent to $ 1,700 per troy ounce.
The price of WTI oil fell by up to 2.1 percent to $ 95.61 per barrel. The North Sea variety Brent was quoted at $ 106.47 per barrel, a decrease of one percent. According to stockbrokers, rapid harvests in the growing regions of West Africa put pressure on selling cocoa again on Monday. The US future slipped 1.6 percent to $ 2,418 per ton, making it cheaper than it had been in two and a half years.
The London contract even fell to a three-year low of 1546 pounds sterling per ton. According to Reuters analyst Wang Tao, a setback to as much as 2285 dollars should be expected for the US future from a chart point of view. Fears of falling demand also weighed on it the price of palm oil. A ton of this vegetable fat, which is used as food and biofuel, fell by up to 1.8 percent to 3190 ringgit (744 euros) and was thus at the level of mid-June. Speculation about harvest delays in the important exporting countries Indonesia and Malaysia due to heavy rains but prevented larger price losses, said a stockbroker. Another trader predicted that prices would rise again soon, as demand from China, India and Pakistan continued unabated. Some investors even feared supply bottlenecks. Source: ntv.de, bad / rts “Peaceful hills in an ancient landscape: In the undergrowth a fighter from the” Free Syrian Army “has taken a position with his heavy machine gun – the conflict threatens to widen. (Photo: REUTERS) In the international commodities trade, the fear of an expansion of the Syria conflict is not diminishing: The movements on the crude oil market speak for themselves. Ramadan acts as a price driver for palm oil.
The gold price, on the other hand, continues to decline – and there is also a drifty reason for this: According to analysts, the civil war in Syria and the protests in Turkey are currently preventing a steeper decline in oil prices. Although the prices for Brent and WTI fell slightly on Tuesday by about 0.2 percent to 105.32 dollars and 97.57 dollars per barrel. But the experts only attributed this to technical factors. “At the moment there are mainly two trouble spots: Syria and Turkey,” say the analysts at Commerzbank. Both are not significant oil producers, but are important for the stability in the entire region.
In addition, important oil pipelines passed through Turkey, and many investors fear that the civil war in Syria in particular could escalate. For one, oil exporting countries like Saudi Arabia and Iran are indirectly involved. On the other hand, the USA and Russia cannot agree on a joint approach by the global community. In Turkey, the conflict between the government and the opposition continues to smolder. Analysts said that the situation is not expected to calm down in the short term.
The supply of oil is currently plentiful. In addition, given the sluggish economic development, global demand leaves much to be desired. As a result, oil prices should be lower, added a trader. The weak demand for cars in Europe left its mark on precious metals as well. The prices for palladium and platinum, which are used in the manufacture of catalysts, fell. Palladium lost up to 2.6 percent to 694.22 dollars a troy ounce and was thus listed as low as it had been in four weeks.
Platinum was cheaper by up to 0.7 percent to $ 1,420.75 a troy ounce and thus cost as little as it did in mid-April. Dealers pointed out that the European auto market continued its downturn and that new car registrations had fallen to their lowest level in a month in May in 20 years. Gold and silver were also little in demand prior to the Fed’s deliberations on future monetary policy. The two precious metals were each 0.5 percent cheaper to $ 1,376.81 and $ 21.73 a troy ounce, respectively. The gold price in particular could come under pressure if the Fed actually throttled its security purchases and thus initiated the exit from the quantitative easing policy (QE3).
In this case, returns on the bond market are likely to pick up again and gold will be less in demand as an inflation protection. In the case of agricultural commodities, seasonal factors showed their effect: an increasing demand before the beginning of the Muslim fasting month Ramadan drove the price of palm oil in the morning to its highest level since March, according to market observers. The future traded in Kuala Lumpur on this vegetable fat, which is used as food and bio-fuel, rose by 0.7 percent to 2480 ringgit (589 euros) per ton. Traditionally, lavish cooking is used to break the fast in the evening during Ramadan. “Production cannot keep up with exports, so traders expect stocks to decline,” said a stock exchange trader.
Reuters market analyst Wang Tao emphasized that from a chart point of view, palm oil has air up to 2534 ringgit. In parallel to palm oil, soybean oil also rose in price on Tuesday. The US future gained 0.3 percent to 48.99 US cents per ton and the contract traded in Shanghai one percent to 7702 yuan (941 euros) per ton. Source: ntv.de, mmo / DJ / dpa / rts ” Palm oil is more expensive than it has been in nine months. (Photo: picture-alliance / dpa) Profit-taking is pushing the oil price down slightly, but given the Fed’s optimistic economic expectations, that should only be a dent.
Soy and palm oil prices, on the other hand, are rising. After two trading days with profits, oil prices fell slightly again. However, in the wake of a somewhat more optimistic assessment of the US economy by the US Federal Reserve, traders expect oil prices to rise again in the further course of trading. In early trading, a barrel (159 liters) of the North Sea Brent for delivery in April cost 125.85 US dollars. That was 37 cents less than at the close of trading the previous day. The price of a barrel of the US West Texas Intermediate (WTI) fell 39 cents to $ 106.85. The Fed delivered a somewhat more optimistic outlook for economic development in the US on Tuesday evening.
Above all, the job market has improved and suggests stronger demand for crude oil in the world’s largest economy, experts said. In the further course of trading, the latest data on US oil reserves should also move into focus. The data will be released in the afternoon, while the persistent drought in the South American growing areas is fueling many investors’ fears of a supply bottleneck for soybeans. The US contract climbed 0.7 percent to a six-month high of $ 13.58 a bushel.
At 4544 yuan (717 dollars) per ton, the Chinese future was at times as expensive as it was last September. “The harvest forecasts have been lowered again by some experts, including the US Department of Agriculture,” said agricultural expert Malcolm Bartholomaeus from the ProFarmer consultancy. “The harvest prospects in South America are poor, while the demand for soybeans and oil is strong in some countries like China.” As a result, many buyers stocked up on US soy, and a recovery in demand is driving the price of palm oil higher. The contract traded in Kuala Lumpur on this vegetable fat, which is used as food and biofuel, rose by up to 0.9 percent to 3395 ringgit (854 euros) per ton, which was the last time it was in early June 2011. The export figures for the first ten days in March indicated an increase in exports for the month as a whole, said a stock exchange trader. Source: ntv.de, sla / dpa / rts “” “A young American woman raves about the film star Robert Pattinson. No, she’s even madly in love. You wants to be close to him and … implements an original idea. Irresistible even as a cardboard comrade: Robert Pattinson. (Photo: picture alliance / dpa) Film stars are the greatest for their loyal fans – they hang up posters, cut out newspaper articles and follow them with passion on Twitter.
When they hit them, they screech or pass out. They also collect devotional objects such as autographs, clothing or objects from the possessions of the loved ones. But what the 25-year-old Laura Adkins from Las Vegas has now done exceeds pretty much everything that has come before: The young woman married a life-size cardboard display by Robert Pattinson. As the “Daily Mirror” reports, she had the celebration converted cost around 2500 euros.
A friend told her: “If you love him so much, why don’t you marry him?” She told the newspaper. The cardboard comrade is the version of the movie star that she could come closest to. The “Viva Las Vegas Wedding Chapel” made this happiness possible for lovers. She was downright obsessed with the role of Edward Cullen, she explained.
It is the star role of Pattinson, who she took over for the film adaptations of the “Twilight” novels by Stephenie Meyer. In it he plays a vampire who falls in love with a woman. The romantic story not only melted Laura Adkins – Pattinson rose to become the poster boy of the current female generation around the world – but hardly any admirer should have shown consistent ownership claims similar to that of the American. The “Daily Mirror” says that The young “couple” spent their honeymoon in Los Angeles.
She later told the newspaper reporter how exhausting it was. “I wanted to climb to the Hollywood letters with him.
