MUMBAI : Palm oil's rare premium over rival rapeseed oil and sunflower oil is likely to be short-lived and it should start trading at a discount once top producer Indonesia eases export curbs after Ramadan, industry participants told Reuters.The premium has slowed down palm oil purchases for April shipmen
MUMBAI : Palm oil's rare premium over rival rapeseed oil and sunflower oil is likely to be short-lived and it should start trading at a discount once top producer Indonesia eases export curbs after Ramadan, industry participants told Reuters.
Graphic: Palm oil trades at premium as sunoil, canola oil falls - https://fingfx.thomsonreuters.com/gfx/ce/zgpobalgyvd/Palmoil%20canola.png Exporters must now sell a portion of their palm oil products at home at a capped price under a domestic market obligation scheme. Indonesia raised the DMO volume by 50 per cent for February-April, anticipating a jump in cooking oil demand ahead of the Islamic holiday of Ramadan, during which large meals are prepared at night for Muslims that fast during the day.
Limited palm oil supplies have not affected top buyers India and China, which took advantage of lower prices and built stocks in the past few months, said Fry of LMC.
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