Thursday, April 14, 2011

Breaking News-Asia oils-China buys more palm oil, discount to soyoil narrows

KUALA LUMPUR, April 13 (Reuters) - China, the world's No.2 vegetable oil buyer, chased palm oil cargoes on Wednesday as traders switch over to the tropical oil during the warmer months and avoid soyoil imports on ample supply.
China's soyoil imports are falling as soybean from national reserves is set to be released into local markets to rein in prices.