PALM oil futures may rise to RM3,000 (US$853) a metric ton within a month on increased demand and the reduced supply of soybean oil, Dorab Mistry, director of Godrej International Ltd, said today in an interview.
Palm oil for August delivery gained 3.1 per cent to RM2,505 ringgit a ton on the Malaysia Derivatives Exchange. The commodity has advanced about 33 per cent this year amid speculation that drought in Argentina may curb soybean oil supplies, boosting demand for rival palm oil.
Godrej is one of the largest importers of edible oils into India, the biggest consumer of palm oil after China. Mistry has traded the commodity for more than three decades. About 90 per cent of palm oil is produced in Malaysia and Indonesia. - Bloomberg
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
music
Create a playlist at MixPod.com
