Palm Oil Seen by Mistry Influenced by El Nino and Biofuels
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Palm, the world’s most-consumed edible oil, will see prices influenced by a potential El Nino weather event and increased biodiesel demand from Indonesia, according to Dorab Mistry, director at Godrej International Ltd.
“The supply side will be dominated by the possibility of an El Nino,” said Mistry, who’s traded edible oils for more than three decades. “The demand side of the equation has been overtaken by biodiesel,” Mistry wrote in an e-mailed reply to questions from Bloomberg before an industry conference.