Tight Stock Lifts Tung Oil Price

摘要

LOW CARRYOVER stocks and small tung seed harvests in China and South America over the past two years led to upward price momentum in the tung oil market throughout 2004.For 2005,suppliers project lower global supply and firm demand,and they expect tung oil pricing pressure to continue."The outlook for 2005 continues to be bullish," says Blake Hanson,president of Woodbury,NY-based Industrial Oil Products,a major tung oil supplier."Year-end 2004 carryover stocks in China were limited,and this year's Chinese tung crop appears to be,at best,no bigger than last year's harvest."