Palm Oil to Climb as Demand Outstrips Production, Mistry Says
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Palm oil must jump at least 19 percent to discourage imports by India and China, the world’s largest consumers, as production will be little changed this year, according to Godrej International Ltd.
“Futures will need to trade close to 3,000 ringgit, and then perhaps even climb above that” to dissuade buyers, Dorab Mistry, a director at Godrej, said in remarks prepared for delivery at a conference today in Belem, Brazil.