Tuesday, November 16, 2010

20101116 1637 Breaking News: China Impose Food Price Control.

KUALA LUMPUR, Nov 16 (Reuters) - Malaysian crude palm oil  futures fell as much as 2.1 percent on Tuesday after China  unveiled plans to impose food price controls, traders said. 
Benchmark Feb 2011 palm oil futures on the Bursa  Malaysia Derivatives Exchange dropped 75 ringgit to 3,305  ringgit ($1,054) per tonne by 0717 GMT.
Traders say China's plan, which also involves cracking  down on speculation in agricultural commodities, may slow  demand from the world's No.2 buyer of vegetable oils.

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