Monday, April 13, 2009

Breaking News-(BN) IOI Chairman Sees Palm Oil at 2,600-2,800 Ringgit

By Chan Tien Hin
April 13 (Bloomberg) -- IOI Corp., Malaysia’s second- biggest palm oil producer by market value, expects the price of the commodity to trade at between 2,600 and 2,800 ringgit ($774) per ton for the rest of the year because of rising demand, the Business Times reported, citing Chairman Lee Shin Cheng.