Asian oleic acid C18:1 prices weaken on ample supply

10 July 2014 11:39 Source:ICIS News

SINGAPORE (ICIS)--Asian C18:1 oleic acids prices have softened on ample supply, sources said late on Wednesday.

In a bid to move more cargoes, offers were lowered by $50/tonne, to $1,400-1,450/tonne FOB (free on board) SE (southeast) Asia during the week.

Softer feedstock palm kernel oil (PKO) prices over the past two weeks also weighed down on buying sentiments, sources added.

Oleic acids are typically used in lubricant ester sectors, related to textile and leather auxiliaries, or used in the pharmaceutical sector.

By Alexis Gan