16 Oct 2009
"Up to this point, about 100,000 tonnes of refined palm olein have been defaulted, and there could be much more up for renegotiation," said a leading
A Malaysian trader familiar with the deal said the number of defaults could snowball if prices of the vegetable oil fell past 2,000 ringgit.
Both traders said the vegetable oil shipments were headed for northern Chinese port city of
Malaysian crude palm oil futures shed 0.4 percent to 2,032 ringgit a tonne by 0329 GMT, weighed down by talk of palm oil cargoes getting defaulted or deferred.
News of the
In the last round of steep price falls in August,
Source : Reuters
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