Singaporean firms have stopped supplying Iran with Indonesian palm oil on concerns over the country's ability to make payments in the wake of Western sanctions, trading sources in Singapore said on Thursday.
Palm oil traders in Southeast Asia, which supplies 90 percent of the vegetable oil globally, stopped taking Iranian letters of credit late last year ahead of fresh U.S. and European sanctions at the start of 2012. Full story
Related:
Iran turns to India for wheat as palm oil dries up - msnbc.com
