Palm Seen Rising to May by Mistry in ‘Year of Two Halves’
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Palm oil will climb in the next three months because of lower production and shrinking inventories before declining after July, according to Dorab Mistry, director at Godrej International Ltd.
Futures will rally to 2,500 ringgit ($689) a metric ton by May as reserves in Malaysia, the biggest grower after Indonesia, contract to the lowest in at least four years, Mistry said at a conference in Kuala Lumpur on Wednesday. Prices may drop to 2,100 ringgit by December as output recovers, he said.