PALM NEWS MALAYSIAN PALM OIL BOARD Thursday, 28 Nov 2024

Total Views: 237
MARKET DEVELOPMENT
MARKET TALK: Negative Olein Margins To Cap China I
calendar01-12-2004 | linkDow Jones | Share This Post:

30/11/04 (Dow Jones)--Negative domestic selling margins in China for palmoil products likely to limit room for further imports, at least in comingweeks, traders say. SGS Malaysia export figures show drop of about 100,000tons to China in November; December may also be slow due to weak sellingprices. RBD palm olein prices in major Chinese ports mostly aroundCNY4,650/ton, which below cost of fresh imports, Singapore-based tradersays. Adds given negative margins, further imports likely to be mainly bycompanies that still haven't used up their 2004 quota given by government.