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Pakistan palm oil import
JANUARY 31: Pakistani importers will wait for stability in palm oil prices in Malaysia before booking more import orders for surging domestic demand, traders said on Monday. "Last week, orders of up to 25,000 tonnes were booked for February shipment," said a palm oil trader. "Since the (Malaysian) market is under pressure, Pakistani traders would like to see some stability before they order more," he said.Malaysian palm oil prices were expected to trade in a narrow range this holiday-shortened week while losses in soy oil futures at the Chicago Board of Trade could also weigh on prices, traders said. The Malaysian market will be closed on Tuesday for the Federal Territory Day and on Friday and the following Monday for Lunar (Chinese) New Year holidays. Dealers said demand for imported vegetable oil products was rising because of slowing cotton seed supplies. -- (Reuters & Agencies) Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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