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Malaysian Palm Oil update: futures rise 2.5% to $1,100/ton, the highest since before the...

Malaysian Palm Oil update: futures rise 2.5% to $1,100/ton, the highest since before the financial crisis. The news will not be welcome in China, the world's largest consumer of cooking oil, which has ordered its local suppliers to not raise prices.
Comments (4)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    The Black Market in cooking oil has just begun
    1 Dec 2010, 09:34 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    "...China, the world's largest consumer of cooking oil, which has ordered its local suppliers to not raise prices."

     

    Not to worry. Soon enough they'll be able to order Malaysian suppliers not to raise prices.
    1 Dec 2010, 09:56 AM Reply Like
  • SA Editor Stephen Alpher
    , contributor
    Comments (540) | Send Message
     
    ^^^ That's a good one!
    1 Dec 2010, 10:10 AM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    Yet one more government who thinks they can control prices via dictation.

     

    Will people never learn that when you suppress a products price, you also suppress the incentive to create more of said product, and the outcome is that there is usually less of said product.

     

    The cure for high prices is high prices. The high prices dampens demand but it also provides incentive for producers to bring on new supply. Less demand plus more supply will eventually bring prices down.

     

    This is econ 101 stuff that should be a "duh!" situation for everyone.
    1 Dec 2010, 12:40 PM Reply Like
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