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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

09/04/2002

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

NULL

CATEGORY

HEADLINE

Vegetable Oil Prices Yet To Recover
KUALA LUMPUR, April 4 (Bernama) -- Prices of soya oil and palm oil havenot shown the anticipated recovery since early January despite theprospective decline in stocks and tightening supplies.

Although some increase was noted from the end-December and early Januarylows, the price strength remained behind expectations, according to thelatest issue of "Oil World" publication released here Thursday.

"Rally attemps failed due to a lack of follow through," the article said.

It said that although the fundamentals became bullish, oils & fats pricesgenerally remained under pressure due to several factors.

The factors include uncertainty on the future Chinese imports of oilseeds,oils and meals, as well as concerns that too prohibitive governmentpolicies would sharply cut imports of oilseeds and products.

Others are the sharp decline in Indian imports of vegetable oils in thefirst half of this season, which kept Malaysian palm oil and the US soyaoil stocks higher than expected. -- BERNAMA