KUALA LUMPUR (August 05 2003) : India tightened rules for crude palm oiland crude palm olein imports, a move traders said sought to weed outrefined oil that some importers falsely labelled as crude in a bid tododge higher duties.
Some traders said Indian importers would switch over to crude palm oil andRBD palm olein, as crude palm olein with the new standards was notcurrently available on the world market.
Malaysia, the world's largest palm oil producer, mostly exports RBD palmolein while Indonesia sells CPO.
In physical trade, August crude palm oil (CPO) saw closing offers in thesouth and central regions at 1,395 ringgit a tonne against bids of 1,390ringgit.
Deals were reported at 1,390 ringgit for south and at 1,385 to 1,390 forcentral.
September CPO was offered at 1,350 ringgit against bids of 1,330 forsouthern and central regions.