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Wednesday, February 10, 2010
Breaking News-RTRS-BRIEF-Malaysia IOI sees palm oil price hitting 3,000 rgt
Feb 9 (Reuters) -IOI CORP: * Malaysia's IOI Corp chairman says sees crude palm oil prices at 2,800-3,000 rgt a tonne for 2010 * Malaysia's IOI Corp chairman says profit outlook good if prices stabilise around current levels * "The prospects are good, demand is there because some of the countries, such as India and China, their economies have already stabilised," IOI Corp executive chairman Lee Shin Cheng told reporters when asked about the price outlook for crude palm oil. * "I expect it (crude palm oil price) to increase to 2,800 ringgit and eventually up to 3,000 ringgit," said Lee.