"We see prices trading within a range of 2,000 ringgit to 2,300 ringgit, averaging about 2,000 ringgit a tonne. This should be the fair value of palm oil for the time being," said IOI Group Executive Chairman Lee Shin Cheng, without providing a timeframe for the forecast.
Friday, March 20, 2009
Breaking News-RTRS-Malaysia's IOI sees palm oil at 2,000 rgt/t
KUALA LUMPUR, March 20 (Reuters) - Malaysia's IOI Corp , the world's third-largest listed palm oil producer, said the price of crude palm oil could rise 20 percent due to falling domestic stockpiles.
"We see prices trading within a range of 2,000 ringgit to 2,300 ringgit, averaging about 2,000 ringgit a tonne. This should be the fair value of palm oil for the time being," said IOI Group Executive Chairman Lee Shin Cheng, without providing a timeframe for the forecast.
"We see prices trading within a range of 2,000 ringgit to 2,300 ringgit, averaging about 2,000 ringgit a tonne. This should be the fair value of palm oil for the time being," said IOI Group Executive Chairman Lee Shin Cheng, without providing a timeframe for the forecast.
