MARKET DEVELOPMENT
MARKET TALK: China Palm Olein Stocks At 230,000 MT
MARKET TALK: China Palm Olein Stocks At 230,000 MT
23/12/04 (Dow Jones)--China domestic RBD palm olein market likely to stayunder pressure for awhile as stocks still rising, says Shanghai Pansun.Stocks at major ports swelled to around 230,000 tons this week amid weakdemand due to cold weather. Olein prices in China quoted aroundCNY4,450-CNY4,500 in most ports. Continued increase in stocks likely tokeep domestic prices under pressure, which in turn would limit Chineseimporters' fresh purchases from Malaysia, Indonesia, traders say.