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Palm oil for Ramadan

This article was originally published in The Public Ledger

MIDDLE Eastern countries have bought 70% of an extra 70,000 tonnes of palm oil cargoes needed for the Muslim holy month of fasting that begins in the third week of August, Southeast Asian traders said on Wednesday. Countries in the region usually buy an additional 150,000 tonnes for Ramadan, but have cut down on orders because of ample port stocks and a recent increase in prices.



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