KUALA LUMPUR (Dow Jones)--Pakistan's defaults and washed out palm oil purchase contracts in the past two weeks were unlikely to have involved large volumes, according to a senior industry executive.
The total would "have been a maximum of 40,000 tons," Nasir Ibrahim, director of Sadiq Vegetable Ghee Mills, a Lahore-based firm, said late Tuesday.
Last week, exporters in Malaysia and Indonesia estimated Pakistan buyers renegotiated or washed out contracts totaling nearly 100,000 tons for shipment mostly between August and December.
