10 September 2012 07:06 [Source: ICIS news]
The country is the world's second largest palm oil producer.
Demand for prompt cargoes delivering in September and October is expected to be healthy, leading up to the Diwali festival, India’s peak festival season in the first half of November, traders said.
However, buying activity for the forward months of November and December has been slow so far, traders said.
“There is not much forward buying because of the volatile prices and weak macro-economic factors,” a trader said.
The total palm oil stocks at the end of August increased by 5.8% to 2.12m tonnes, the board said.
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