MARKET DEVELOPMENT
Malaysia Cash Palm Oil Flat; Demand Slow
Malaysia Cash Palm Oil Flat; Demand Slow
10/12/04 Oilmandi - Malaysian cash palm oil mkt little changed as demandremains slow; Nov RBD palm olein offered unchanged at $417.50/ton with notrades reported so far. Locally delivered Oct CPO offered up MYR5 atMYR1,480. Traders
say no major surprises in Malaysian Palm Oil Board data to fuel buyinginterest.Trading also slow as demand from biggest palm oil importer Chinaabsent. "At one time, the Chinese had wanted to buy some for Nov shipment,but now they have become a bit wary because domestic selling prices havecome down," says Malaysian trader with clients in China. Palm oil pricesin China's domestic mkt under pressure from cooler weather, rising soybeanoutput.(BEL)