Palm Oil Prices Seen at 3,000-3,200 Ringgit Next Three Months

Palm oil in Malaysia may trade between 3,000 ringgit a metric ton and 3,200 ringgit in the next three months, said Lee Yeow Chor, chairman of the Malaysian Palm Oil Council.

Prices will be supported by steady demand amid lower supplies, Lee told reporters in Mumbai. Palm oil production in Malaysia this year may total 19 million tons, while May-end stockpiles is seen lower, he said.

To contact the reporter on this story: Swansy Afonso in Mumbai at safonso2@bloomberg.net

To contact the editor responsible for this story: Thomas Kutty Abraham at tabraham4@bloomberg.net