CIJENE BILJNIH ULJA NA TRŽIŠTU U VELIKOJ BRITANIJI
Velika Britanija - SJEME 09. rujna 1997.
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Coconut oil prices jump, trade active in Europe
LONDON, Sept 9 (Reuter) - Coconut oil prices jumped in
active trading during Tuesday afternoon on the European
vegetable oil market.
Traders reported buying interest from dealers and consumers
with dealers on the selling side.
One major U.S. consumer was reported to have been active in
the forward positions.
Origins may have be involved but not very actively.
"Dealers were doing the bulk of the business, but there was
also some consumer buying. As for origins they were probably
there, but not very active," said one trader.
Traders said a feeling that the market was overdue for an
upturn may have been behind the sudden surge in interest.
"The market has been bumping along around $550 a tonne for
some time and some people felt it was going to start heading for
$600, so now was the time to buy," said another trader.
However, others said the driving force came from one or two
major players who wanted to push the market higher for their own
reasons.
News that India's State Trading Corporation (STC) had bought
at its tender on Tuesday appeared to have little immediate
impact on palm oil.
India's STC bought 12,000 tonne of palm olein at $550 a
tonne c and f from Wilmar with one parcel for shipment between
September 15 and 30 and the second between September 25 and
October 10.
"There didn't appear to be any immediate effect on prices,
but we noticed that the Malaysian sellers in Europe became more
aggressive after the news while the Indonesian sellers seemed to
be backing off a bit," said one trader.
"The Malaysians are going to have to get more aggressive if
they don't want to lose more business to Indonesia," said
another.
At the close of business coconut oil was $7.50 to $15 higher
after Sep/Oct traded at $580 and $585, Oct/Nov at $590, Nov/Dec
at $595, $597.50 and $600, Dec/Jan at $595, $600 and $605,
Jan/Feb at $600, $605 and $610 and Feb/Mar at $615 and $617.50 a
tonne cif.
Palmkernel oil finished $7.50 to $10 up.
Crude palm oil cif Europe closed $2.50 down to $2.50 up with
additional business reported in Sep, Oct and Nov at $505 a tonne
cif.
No further business was reported in products which closed
unchanged to $2.50 up.
Higher Chicago futures had no impact on soft oils in Europe
that closed with soy oil one to 0.50 guilders down after Nov/Jan
traded at 107 guilders a 100 kilo.
Rape oil closed 0.50 to 0.25 guilders lower after Sep
fetched 108.50, Oct 108.50 and 108.25, Nov/Jan at 108 and
Feb/Apr at 108 guilders a 100 kilos fob ex-mill.
Informacije: Zoran Popijač telefon: 01/273-927 fax: 01/4550-148
101108 MET sep 97
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