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News Admin
 
Date
 22/11/2006
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 India Daily
Headline
 Chinese demand drives global palm oil price

21/11/06 (India Daily)  -  Palm oil prices, which rose by as much as 30 dollars per tonne in the global commodity market has cast its shadow in the domestic market, an industry expert said. "Palm oil prices have gone up, but exactly not in line with international prices.
We are watching the development because it will also have an impact on the domestic price level," Solvent Extractors'' Association Executive Director B V Mehta said.
Palm oil price in the domestic market went up by Re one per kg due to a spurt in global prices of Crude Palm Oil (CPO), due to higher purchases by China, which bought nearly three lakh tonnes from Malaysia, the major producer of palm oil.

ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
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