Palm oil prices unchanged

Wed, 20 May 1998 | Source: REUTERS

LONDON (Reuters): Crude palm oil prices were unchanged at the opening of the European vegetable oil market yesterday but traders said the market felt very much like it was at the eye of a storm.

"Every one is waiting to see what happens in Indonesia on Wednesday," said one.

Officials in North Sumatra said the port of Belawan, the main loading port for palm oil, export activity had slowed owing to affects of the riots.

However, coconut oil is being shipped to Europe from Kuala Enok port in Riau.

Stocks of palm oil in Rotterdam as of May 11 stood at 49,461 tons and coconut oil at 122,364 tons.

Crude palm oil cif Europe started the day unchanged while coconut oil was $5 higher.

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