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Palm oil may tumble next year as production climbs, Mistry says

Posted on 30 November 2012

Palm oil may trade in a range in the next three months before slumping into a bear market as global production peaks in the second half of next year, according to Dorab Mistry, director at Godrej International Ltd.
Futures on the Malaysia Derivatives Exchange will trade between 2,300 ringgit ($755) and 2,600 ringgit a metric ton until February, keeping inventories high in Indonesia and Malaysia, the top producers, Mistry told a conference in Bali, Indonesia today. Prices will drop below 2,200 ringgit in August or earlier as a pickup in output expands inventories, he said………………………………………..Full Article: Source


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