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Pakistan has struck a deal to import 20,000 tonnes of soybean oil, believed to be the first purchases of the soft oil by private traders in two years, Rasheed Janmohammed, vice-chairman of the Pakistan Edible Oil Refiners Association said on Wednesday.
The deal was sealed around $675-$685 a tonne, including cost and freight, for March shipment, said Rasheed Janmohammed. "If the current parity between soyaoil and palm remains, we could buy more soya oil from Brazil and Argentina," Janmohammed told Reuters on the sidelines of an annual palm oil conference organised by the Bursa Malaysia Derivatives Exchange.

Copyright Reuters, 2007

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