KARACHI (January 13 2005): Pakistan's edible oil imports remained slowover the past week due to high domestic cottonseed availability, anddealers said on Wednesday they would remain low in the near term. "Theprices are going down due to the high domestic cottonseed supplies, whichare just going on and on," said Akber Puri, a dealer in the southern portcity of Karachi.
"Local cottonseed is a much cheaper option as compared toimported oil, thus the imports are also slow," he said. Pakistan expects output of cottonseed to cross 580,000 tonnes this season,up from the previous year's
Firmer crude makes palm more competitive as a biodiesel feedstock, which partly offsets the bearish pull from weak Dalian and CBOT oils. Strong Diwali-linked export demand is supportive for palm prices.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.