HAMBURG: Pakistani importers have bought about 4,000 tonnes of soybean oil which can be sourced from any origin as prices fell this week, European traders said on Thursday.

The soyoil was for shipment in May, they said.

Chicago soybean oil prices touched their lowest in almost six years on Wednesday on fears of an influx of South American supplies into the United States following news that US regulators will allow Argentine biofuel makers to qualify for US biofuel credits.

Pakistani importers are also talks about buying an unknown volume of soybeans for crushing, traders said. April shipment was sought with soybeans from Brazil, Argentina or the United States in discussion, they said.

Published in Dawn, January 30th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play