PALM NEWS MALAYSIAN PALM OIL BOARD Thursday, 28 Nov 2024

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MARKET DEVELOPMENT
MARKET TALK: China Olein Stocks May Touch 300,000
calendar17-12-2004 | linkDow Jones | Share This Post:

16/12/04 (Dow Jones)--RBD palm olein prices in China likely to remainunder pressure in medium term as stocks are poised to build up further.Research firm Shanghai Pansun says stocks at major ports could touch300,000 tons by year-end as new cargoes arrive. RBD palm olein in Chinanow quoted around CNY4,500-CNY4,550/ton; weak domestic prices likely tolimit room for further imports by China, which is bearish for CPO futuresin Malaysia.