Kuok said China has a palm oil inventory of about 1 million tonnes, which is expected to decline as the trade normalises.
Kuok Khoon Hong, Wilmar's chairman and chief executive officer, said on Friday he estimates that more than half of China's palm oil imports were for financing purposes.
China, the world's No.2 buyer of the vegetable oil, imported 2.9 million tonnes of palm oil in the first half of 2014, nearly flat from a year earlier, official trade data showed. Palm oil imports grew 8 percent on the year for the first half of 2013.
"Oil prices will be depressed for a year or two, and it's not a good time to buy (palm oil plantations) right now," said Kuok.
Source: Reuters - http://af.reuters.com/article/commoditiesNews/idAFL4N0QD3WP20140808?pageNumber=1&virtualBrandChannel=0
The Basic of Crude Palm Oil Futures Trading On Bursa Malaysia Derivatives Based On Technical Analysis.
The Most Popular Posts
-
This is about a plan in publishing the stop and reverse trade signals for the whole year 2016 without giving a single comment and also witho...
-
101indicators On Futures Trading book was published in year 2014 through print on demand technique to reach out CPO Futures traders who wis...
-
The CPO Futures's stop and reverse trade signals in year 2017 had generated accumulated gross profit 21 ticks ONLY based on the 101ind...
-
681 points accumulated theoretical gross profit in year 2020 was basically helped by a single trade in January 2020 that being carried forwa...
-
Dear traders, please be informed that all palm oil export data from both palm oil cargo surveyors, Intertek Agri Services and SGS Malaysia, ...