Tuesday, April 13, 2010

Breaking News-RTRS-UPDATE 1-Chinese buyers stop seeking Argentine soyoil imports

BEIJING/BUENOS AIRES, April 12 (Reuters) - Chinese buyers have stopped applying for new import permits after authorities in Beijing slapped new quality standards on shipments from the South American nation around two weeks ago.
Importers are exploring alternative origins, including Brazil for soyoil and Malaysia for palm oil imports, although high domestic stocks and firm prices were discouraging buyers from entering into new deals, traders said on Monday.
Some cargoes were postponed, while at least one cargo was switched to India, they said.