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Pakistan's palm oil prices stable, imports seen
slow
KARACHI (April 01 2004): Pakistan's palm oil
prices were stable over the past week on ample
stocks, and no major import orders were expected
in the near term as world prices remained high,
dealers said on Wednesday.
"Importers are not interested in booking orders
for refined oil because sufficient stocks are
available in the country," dealer Akbar Puri said.
Dealers said traders had more than 100,000 tonnes
of unsold stock to meet domestic demand and had
made forward deals securing their positions until
the end of April.
About 70,000 tonnes were being shipped to
Pakistan, Puri said, adding that there was some
demand for crude palm oil imports.
Another dealer said importers were waiting for
world oils prices to slip.
Traders said palm olein was quoted at 1,970 rupees
per mound (37.32 kg) on Wednesday against 1,980
rupees a week ago.
Pakistan imports about 1.3 million tonnes of
edible oil products annually, led by palm oil,
mostly from Malaysia, to help meet domestic demand
of 1.9 million tonnes.
Courtesy Business Recorder |
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Pakissan.com; Advisory Point
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