China Buys More Indonesian Palm Oil on Mooncake Demand: ChartBy
China regained its position as the second-biggest buyer of Indonesian palm oil in June, surpassing the European Union for the first time since December and lagging only India. Shipments to China more than doubled from a month earlier as cheaper supplies and an upcoming major autumn festival requiring millions of mooncakes boosts edible oil demand. With palm oil’s discount to soybean oil widening in July to the most this year, price-sensitive buyers may increasingly switch to palm.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.