Breaking News-RTRS-UPDATE 2-China meets palm oil festive demand, outlook cloudy
Posted by Labels: Trader's highlightKUALA LUMPUR, Jan 27 (Reuters) - China has met palm oil demand requirements for the Lunar New Year festival earlier than expected and traders say purchases could slow soon after, leading to a weakening in the prices of the vegetable oil.
Ample stocks in China, the world's No. 2 vegetable oil importer, and concerns that its central bank may tighten credit further have clouded the outlook for the palm oil market, which usually gains in the first quarter.
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