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Oilworld Sees Medium-Term Palm Oil Mkt Rise
calendar01-02-2005 | linkDow Jones | Share This Post:

31/1/05(Dow Jones)--Oilworld expects soyoil, palm oil prices to findsupport at current low prices, say traders familiar with its latestreport. In medium term, some price advance possible due to seasonallylower stocks, slowdown of production growth. Demand for eight majorvegetable oils forecast to rise by a record 5.3 million tons in 2004-05year (October-September) compared with 3.6 million tons previous season,partly due to growth of biodiesel industry.