China Palm Oil Inventory Seen at Record May Weigh on Prices
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Palm oil inventories in China, the world’s second-biggest importer after India, rose to a record as inbound shipments outpaced consumption, according to China Cereals & Oils Business Net.
Stockpiles at the country’s major ports this week exceeded 1.5 million metric tons, compared with 1.46 million tons a month ago, Liu Xianwu, general manager of the Beijing-based research firm, said in an interview today.