MARKET DEVELOPMENT
Crude Palm Oil Could Rise to $730-$750/T in Jan-March- Analyst Mielke
Crude Palm Oil Could Rise to $730-$750/T in Jan-March- Analyst Mielke
29/09/2014 (Reuters) - Crude palm oil export prices in Indonesia, the world's biggest producer, could rise to $730-$750 per tonne in January-March 2015 from $680 per tonne now due to a slowdown in production growth, leading analyst Thomas Mielke said on Sunday.
"Oil palm growing areas are suffering from dryness in Indonesia and Malaysia. If we get continuation of dryness in October, then oil palm will be stressed," Mielke, editor of the Hamburg-based newsletter Oil World, told the Globoil India industry conference .
"It could reduce the number of fruit bunches in coming months," he said.
Soyoil prices in Argentina are likely to trade in a range of $820-$850 per tonne in Jan-March from $775 per tonne now on good demand from the biodiesel industry, Mielke said.
"Oil palm growing areas are suffering from dryness in Indonesia and Malaysia. If we get continuation of dryness in October, then oil palm will be stressed," Mielke, editor of the Hamburg-based newsletter Oil World, told the Globoil India industry conference .
"It could reduce the number of fruit bunches in coming months," he said.
Soyoil prices in Argentina are likely to trade in a range of $820-$850 per tonne in Jan-March from $775 per tonne now on good demand from the biodiesel industry, Mielke said.