Traders report renewed buying spurred by a fall in domestic inventories and discounted prices. FMTNews PalmOil
Indian traders are beginning to buy Malaysian palm oil again after Malaysia signed a deal to buy a record 100,000 tonnes of Indian rice.
Leading Indian importers agreed last week to buy up to 200,000 tonnes of crude palm oil from Malaysia, the world’s No. 2 producer after Indonesia, to be shipped next month and in July, trade sources told Reuters. Reuters said a resumption of purchases by India, the world’s biggest edible oil importer, could further support Malaysian palm oil prices, which have edged up from 10-month lows in recent days.
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