European palm oil market rose steadily on Wednesday
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Last Update: 2002-08-09
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Source: Internet
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Author: User
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Introduction: in the week of August 5, the European palm oil spot market closed up steadily, mainly due to the expectation that India's demand for palm oil will be very strong in the near future Since the rainy season in India this year, the rainfall has been lower than the previous year's level, causing the market to worry about the reduction of India's main summer oilseed crops, thus increasing the import demand for vegetable oil In fact, this year's drought in India is the worst in the last 10 years But European traders are also reluctant to take the plunge, as it is unclear how much damage has been done to oilseed crops At DUK's close, palm oil prices ranged from flat to $2.50 higher The prices quoted by the buyer and seller for the crude palm oil in September are 407.50 to 410 US dollars per ton, respectively, the prices quoted for the shipment from October to December are 410 US dollars and 413.50 US dollars, and the prices quoted from January to March are 410 US dollars and 412.50 US dollars DUK traded crude palm oil at $415 per ton from October to December and $417.50 per ton from January to March DUK markets expect trading in Europe to remain calm ahead of Malaysia's palm oil export data next week.
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