Palm Oil Seen Rebounding by Sime’s Dass as Demand Recovers
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Palm oil will rebound from a five-year low as demand improves and record supplies of soybeans, which can be crushed to make an alternative oil, are absorbed, according to Sime Darby Bhd., the biggest listed producer by market value. Futures advanced.
“Prices should bounce back by October, November,” Franki Anthony Dass, executive vice president of the Petaling Jaya, Malaysia-based company’s plantation division, said in an interview. “The bumper soybean crop will quickly drop,” said Dass, who’s been in the industry for more than 30 years.