03/12/2010 (Bloomberg) - Cooking oils prices will extend a rally as rising demand exceeds supply curbed by drought and heavy rains, pushing palm oil to 3,600 ringgit a ton this month, according to Dorab Mistry, director of Godrej International Ltd.

“The period of greatest tightness will be between February and May 2011 and we need prices to rise now in order to rein in demand and to stimulate plantings,” Mistry, who correctly predicted in March that prices would exceed 3,000 ringgit a ton after June, said at a conference in Bali.