Thursday, November 17, 2011

Palm oil may rise to RM4,000/ton: Mistry


Malaysian palm oil may rise to RM4,000 per metric ton by June amid rising demand for the commodity, said Dorab Mistry, director of Godrej International Ltd.

Demand for palm oil and biofuels are “buoyant,” he said in a Bloomberg TV interview in Singapore today.

Palm oil supplies will fall as trees enter a “flat” output cycle, he said. -- Bloomberg