Will the market crash if budget 2021 cannot be passed this coming Thursday (26/10/2020)? These are the 4 possible scenarios:
1. Parliament will be dissolved and a snap election will be called 2. A state of Emergency in the whole country will be declared by YDPA 3. Muhyiddin will resign and YDPA will appoint an interim PM 4. YDPA will appoint a new PM who has majority MPs support. A new budget 2021 also will be tabled by the new appointed PM.
Will the market go down? Will it crash? Take profit now or wait?
At the close, the CPO futures contract for December 2020 rose RM141 to RM3,645 per tonne, January 2021 surged RM166 to RM3,552 per tonne, February 2021 increased RM121 to RM3,437 per tonne, and March 2021 climbed to RM101 to RM3,338 per tonne.Total volume declined to 57,764 lots from 73,164 lots on Thursday, while open interest decreased to 240,256 contracts from 255,062 contracts previously.The physical CPO price for December South increased RM150 to RM3,690 per tonne.
At the close yesterday, CPO futures contracts for January, February, March and April were hovering between RM3,320 and RM3,646 per tonne, while the physical CPO price for January South slipped RM20 to RM3,660 per tonne.Plantation analysts located support at RM3,350 and resistance at RM3,520 per tonne.
I bought PPB last week. Very happy to be on board and see many familiars name here. PBB is now Mabel's 12 Plantations.!
OIL PALM PLANTATIONS TO OPERATE AS NORMAL IF MCO IS RE-ENFORCED - Bernama 11-Jan-2021 04:14:12 PM
KUALA LUMPUR, Jan 11 (Bernama) -- The Ministry of Plantation Industries and Commodities (KPPK) has given an assurance that oil palm plantations will be given permission to operate as usual if the government implements the Movement Control Order (MCO) 2.0.
Minister Datuk Dr Mohd Khairuddin Aman Razali said this was important to ensure that palm oil production was not interrupted and the country could continue its commodity exports to the rest of the world.
"We have gone through the MCO 1.0 phase in March 2020 and today we have been through it for almost one year. Of course, we have learned the best way for us to manage the plantations more prudently.
"Besides that, workers in oil palm plantations have always practised social distancing and their jobs require them to distance themselves. Hence, the spread of COVID-19 can be avoided," he told a press conference in conjunction with the Palm Oil Economic Review & Outlook (R&O) today.
Mohd Khairuddin said his ministry was optimistic that the palm oil trade performance would be better this year due to the positive forecast of the country's economy, as well as productivity, which is expected to increase due to good agricultural practices that formed the basis of the Malaysian Sustainable Palm Oil (MPSO) certification scheme.
He said as at Dec 31, 2020, a total of 5.2 million hectares or 88.25 per cent of the 5.9 million hectares under oil palm cultivation in Malaysia have obtained the MSPO certificates.
A total of 434 mills or 96.02 per cent of the 452 palm oil mills have also obtained the MSPO certificates.
Meanwhile, he said Malaysia has decided to file legal action with the World Trade Organisation (WTO) against the European Union's (EU) restrictions on palm oil-based biofuel
Market now starts talking about commodities super cycle, caused by pandemic as the structural catalyst, eg weaker dollar, limited supply due to closure of mines or shortage of (foreign) workers, stimulate economic activities & therefore commodity consumption, and synchronised efforts by countries to limit the export/ increase tax of agricultural products...
“On January 11th Argentina lifted a ban on corn exports, but imposed a cap. Russia plans to tax wheat exports from mid-February.”
Commodities bull has started. Let see how far it can run.
Sustainability And Food Safety: The Perspective of the Malaysian Palm Oil Industry” organised by the EU-Malaysia Chamber of Commerce and Industry (Eurocham), Malaysian Palm Oil Board (MPOB) Technical Advisory Services Unit, Product Development and Advisory Services Division (PDAS) Australasia and Oceania Regional Manager and Desk Officer for Europe, Rafizah Mazlan, said as at Feb 28, 2021, 5.07 million hectares (ha) of Malaysia’s oil palm planted area was certified sustainable. In total, the country has a total licensed planted area of 5.87 million ha.
Malaysia to increase palm oil exports to Saudi Arabia BENTONG (March 12): Malaysia will increase its palm oil exports to Saudi Arabia from 300,000 tonnes to 500,000 tonnes worth approximately RM1 billion. Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali said the volume was increased following Prime Minister Tan Sri Muhyiddin Yassin's visit to Saudi Arabia recently. It is among the accomplishments following the Prime Minister's visit to Saudi Arabia other than the growth in demand for palm oil in that country throughout the Covid-19 pandemic,” he told a press conference in conjunction with the National Immunisation Programme registration campaign for the plantation sector today. He also revealed that the Ministry would open a regional office in Jeddah, Saudi Arabia soon. It is to further expand our opportunities for the commodity in the African and Middle Eastern markets and we see Jeddah as the best hub. With the establishment of such office, hopefully our palm oil could be further marketed internationally,” he said. Meanwhile, Mohd Khairuddin said his Ministry is negotiating with the Ministry of Home Affairs and Ministry of Human Resources to secure foreign workers for the plantation sector which is in desperate need of manpower. He noted that there are currently more than 250,000 foreign workers in the plantation sector with some having returned to their respective countries upon expiry of their permits. He said his Ministry will propose measures for the plantation sector particularly in regard to standard operating procedures as a reassurance in recruiting about 32,000 more foreigners as harvesters. If we can get 32,000 of these harvesters, that will be another RM5 billion in palm oil-related income towards our RM75 billion target for this year. At the same time, we hope that locals would also venture into plantation which provides many benefits such as free housing,” he said. Earlier, Mohd Khairuddin spent some time visiting the living quarters of FGV Holdings Berhad's workers and palm oil mill in Mempaga here.
Yesterday’s FCPO selling pressure again was capped within the ongoing support of MYR3,845 and the 61.8% FR level. Selling pressure appears to be moderating at aforementioned level as we expect a recovery soon.
Buying interest continued to pick up over the past six days and we expect the FCPO to rebound, leading to further recovery soon.
Mabel expect FCPO consolidation is about to end...Uptrend still intact...
For those who decided to run, please run and take shelter at the Plantation. Come and join us at the plantation. Weather is beautiful and CPO is doing great. It's a great opportunity to feed 8 billion people across the planet.
As long as CPO is trading above RM 3,000 we can expect windfall profits for the coming quarter.. Currently CPO prices is at its best..
Although FCPO is trading near the critical resistance, buying interest remained elevated, thanks to external boost from Soybean Oil. A stronger market structure was observed within a smaller timeframe, and we expect FCPO to test the upper resistance level ahead.
Mabel today very busy with Mabel Energy Battleships and Super tankers as all of them cruising at full speed. So many missiles to fires....I think one of the missiles hit Mickey Mouse Plantation - MHC - Mickey Horrible Counter ...HiHiHi....
With Indonesia, our Main Competitor of Palm Oil out of the game due to ESG Compliance, Malaysia WILL RISE UP AS WORLD NUMBER ONE EXPORTER to feed 8 billion people across the planet..
Brent crude oil was trading at US$86 (about RM357.59) per barrel, while crude palm oil closed at an all-time high on Wednesday with the benchmark palm oil contract for January 2022 rising by RM127 to RM5,071 a tonne.
USD is strengthening against the RM. All exports driven sector like Glove, Export orientated Techs, Palm Oil and Energy will benefits from this development.
PUTRAJAYA (Jan 5): The palm oil industry, being the fourth largest contributor to the Malaysian economy, is expected to maintain its 2021 performance in 2022, backed by various marketing and promotional efforts to be conducted by the Ministry of Plantation Industries and Commodities and its agencies.
As of November 2021, total exports of Malaysian palm oil and its derivatives stood at 22.14 million tonnes and due to high palm oil prices, total revenue increased by 40% to RM91.4 billion as compared to 2020. This morning Mabel's collection of BioFuel Plantation continue to rise..
Company's will not received exemption only all income of individual except for overseas dividend income. So if divi is received from Wilmar still will be exempted till 2026.
Posted by williamh > Dec 30, 2021 8:12 PM | Report Abuse
Tax exemption for foreigners sourse whether private or company will not change until 2026.according to the later
Posted by alenac > Jan 6, 2022 10:17 AM | Report Abuse
Company's will not received exemption only all income of individual except for overseas dividend income. So if divi is received from Wilmar still will be exempted till 2026.
Posted by williamh > Dec 30, 2021 8:12 PM | Report Abuse
Tax exemption for foreigners sourse whether private or company will not change until 2026.according to the later
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
BatteriesNotIncluded
105 posts
Posted by BatteriesNotIncluded > 2020-11-22 14:02 | Report Abuse
Price correction coming as shown in TA chart. RSI at 80% all time high. MACD all time high and about to cross like previous crossing. Volume down