Palm Oil to Rally to 4,000 Ringgit by End of June, Mistry Says

Palm oil may rally to 4,000 ringgit per metric ton by the end of June as global edible-oil supplies tighten, according to Dorab Mistry, director at Godrej International Ltd., who restated an earlier prediction.

Mistry, who’s traded palm oil for more than three decades, gave the forecast at an industry conference in Kuala Lumpur today. The May-delivery contract ended the morning session at 3,232 ringgit on the Malaysia Derivatives Exchange today.

To contact the reporter on this story: Ranjeetha Pakiam in Kuala Lumpur at rpakiam@bloomberg.net

To contact the editor responsible for this story: Jake Lloyd-Smith at jlloydsmith@bloomberg.net

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