KARACHI, June 14: Pakistan's vegetable oil imports are likely to remain slow amid expectations of lower prices on the international market as a result of slack global demand, dealers said on Wednesday.

“The weakness in the international market is likely to continue,” said Ziaul Haq, a Karachi-based dealer.

“Vegetable oil imports are likely to remain at current levels until the end of June,” he said. Uncertainty in the international market had confounded importers, Mr Haq said.

“There's no price stability and nobody is ready to buy in bulk,” he said. High stocks in Malaysia and soft Chinese and Indian demand had triggered the bearish mood, he said.

Dealers said domestic prices came off in line with prices in the international market and traders were fearful of a further slide in international prices.

“There is a bit of uncertainty in the market and that is keeping importers away,” said another dealer.

“A report on exports and stocks in Malaysia later this week could become the basis of import decisions,” he said.

Dealers said traders in Pakistan had more than 150,000 tons of unsold stocks to meet domestic demand.—Reuters