09/12/2010 (Buenos Aires News.Net) - It has been forecast that palm oil will rally 30% in 2011.

The 2011 growth target for Palm Oil has advanced after a rally of 36 percent this year and a previous lift in 2009.

Analysts say the commodity will rise on optimism of rising demand in China.

Global supplies for palm oil have been curbed by rain and drought in producing nations, especially in Indonesia and Malaysia, which have been hit by weather events.

Malaysia’s production dropped 1 percent to 14.3 million tons in the first 10 months of the year.