Friday, May 6, 2011

Breaking News-RTRS - Asia Oils-India buys more palm oil as port stocks run low

KUALA LUMPUR, May 5 (Reuters) - India, the world's largest vegetable oil importer, was buying more Southeast Asian palm oil to cover demand as port stocks run low, although a decline in competing soyoil prices may prompt a shift in orders, dealers said on Thursday.
Imported vegetable oil stocks at various ports stand at 415,000 tonnes at end-April, lower than the usual 650,000 tonnes, and this has spurred more imports even though the rapeseed crushing season is underway, Southeast Asian and Indian traders said.