Palm Oil Import Recorded High, Price to Keep Weak

By CnAgri2013-09-25 13:35:33 Print Palm Oil: Palm oil price increased slightly this week. With seasonal characteristic, palm oil production in Malaysia will keep rising from now on until November. By August, China imported palm oil 3.874 million MT accumulatively, higher than the past 5 years. The import is predicted to be 570000MT in September, higher than average monthly level, and port inventory is suppressed. In domestic, however, with weather getting colder, palm oil consumption will face slack season and the destocking pressure will increase again. It is predicted palm oil price shall remain weak. (Figure 12)

    

From “China Oil and Oilseeds Market Weekly Report”