22/12/2011 (Business Recorder) - Soyaoil and palm prices are set to rise in the first half of 2012 because of flagging production and strong demand, Hamburg-based oilseeds analysts Oil World said on Tuesday.

Low global demand for soyameal has reduced soyabean crushing which has in turn tightened soyaoil supplies, it said.

Argentine soyaoil export prices are likely to rise to an average of $1,195 a tonne fob in January-June 2012, up from $1,130 a tonne for forward delivery positions so far in October-December 2011, it forecast.

Meanwhile, crude palm oil is likely to rise to $1,125 a tonne cif north-west Europe in January-June 2012, from $1,030 a tonne so far in October-December 2011, it estimates.

Refined, bleached and deodorised (RBD) palm olein fob Malaysia is likely to rise to $1,150 a tonne in January-June 2012, up from $1,040 a tonne so far in October-December 2011, it estimates.