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Pakistani Vegetable Oil Imports Expected to Rise
calendar10-08-2004 | linkAsia Pulse | Share This Post:

KARACHI, Aug 6 Asia Pulse - Pakistani vegetable oil imports were likely torise in coming weeks on fears of a further hike in world palm oil prices,but local rates remained stable on sufficient stocks, dealers said.

Palm oil imports would rise in August, but soyoil imports could taper offby the middle of September when the cottonseed oil season is likely tostart, they said.

Importers and mills were rushing to make forward deals, fearinginternational prices would rise further, said Ziaul Haq, a palm oil dealerin the southern port city of Karachi.

"In the next few weeks we will see a lot of import orders from Pakistan,"he said.

Traders were making spot as well as future deals, he said.

Local palm oil stocks stood at around 100,000 tonnes - enough to meetdomestic demand for around one month.

(PPI)