Palm Oil Seen Rising 16% by Year-End as China, India Recover
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Palm oil, the world’s most-used cooking oil, may climb 16 percent this year as economies rebound in China and India, the biggest importers, the Indonesian Palm Oil Association said.
Palm may rise to $1,000 a metric ton by the year-end, the highest price since September, after trading between $800 and $900 in the first half, Fadhil Hasan, executive director at the growers’ group, said in an interview in Jakarta on Feb. 5, referring to cargoes delivered in Rotterdam. The rate was $862.50 yesterday, according to data compiled by Bloomberg.