Monday, August 18, 2008

Breaking News-:DJN- Palm Oil Buyers Default, Seek Discount On 1.0M Tons

KUALA LUMPUR (Dow Jones)--Bearing the brunt of a steep fall in prices, palm oil buyers are backing out of earlier contracts, and shipments of around 1.0 million metric tons from Indonesia and Malaysia are either facing default or are being discounted heavily, trade executives said Friday.