date:Mar 05, 2014
China's palm oil imports are likely to take a hit in the coming months as stockpiles at major ports have risen to near record highs of around 1.2 million tonnes on weak domestic demand, traders said on Tuesday. Lower palm oil demand in China, the world's second largest importer, could cap a rally in benchmark Malaysian futures which jumped to a 17-month high on Monday as hot and dry weather threatened production in Southeast Asia.
Traders estimated palm oil stocks at Chinese ports at between 1