Wilmar: China is maintaining caps on vegetable oil prices and hasn’t announced plans to sell from state stockpiles, according to 2 ppl briefed on the govt’s policy. Meanwhile, Shanghai JC Intelligence Co says the govt clearly has no intention to loosen its grip on the market, after inflation in China breached the govt’s 4% ceiling every month this yr, with consumer prices rising 6.4% yoy in Jun.
Wilmar, which has half of China’s retail cooking-oil mkt, also said yday it isn’t aware of a lifting of the caps.
These updates come in response to the Quanzhou Evening News report on Sunday, that the caps have been removed. Expect volatility in the share price, if traders start to trim exposure.
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