date:Jun 17, 2014
uch higher than the average 12,500 lots. Technicals showed palm oil faces resistance at 2,437 ringgit per tonne, and may drop towards support at 2,356 ringgit, said Reuters market analyst Wang Tao.
However, palm oil imports from India, the world's top vegetable oil buyer, are expected to stay firm in the next few months due to a drop in domestic cooking oil supplies and year-end festival demand, traders said, which could support benchmark prices. Solvent Extractors' Association data on Monday