Palmoil may rise above 731 dlr per tonne
Palm oil may surge to more than 2,500 ringgit ($ 731) a ton this year on rising demand from India and China, said Dorab Mistry, director at Godrej International Ltd.
By Agencies |
JAKARTA: Palm oil may surge to more than 2,500 ringgit ($ 731) a ton this year on rising demand from India and China, said Dorab Mistry, director at Godrej International Ltd, one of India's biggest buyers of vegetable oils.
"We expect that consumption may expand by 4 million tonnes globally, boosted by economic growth in the world's two most populous nations," said Mistry, who has been trading vegetable oils since 1976, at a conference in Jakarta.
The prediction is 4.2 per cent higher than a forecast of 2,400 ringgit a tonne that Mistry made on March 14.
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