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Palm Oil stocks of China hits record 1.4 mln tons: Reuters survey
Mar 04, 2013 03:03 PM

Palm oil stocks of China rose to a record 1.4 million tons in February, according to a Reuters survey of five Chinese traders and analysts. The rise is because the imports surged late last year ahead of stricter quality regulations from Jan. 1.

The domestic price of oil may be depressed due to the high stocks. The price is already down more than 8 percent this year.

February's imports most likely declined 15 percent to 400,000 tons from January's 472,733 tons because of Lunar New Year holiday and a shorter month, according to the survey.

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