Tuesday, March 9, 2010

Breaking News - RTRS-Palm oil output shortfall to boost prices-Mistry

KUALA LUMPUR, March 9 (Reuters) - Malaysian crude palm oil futures may trade at 2,800-3,200 ringgit range after July as the current El Nino-driven hot weather may cause a production shortfall in the second half of 2010, a top analyst said.
Godrej International's head of vegetable oil trading Dorab Mistry said his forecast was within palm oil's most "bullish period" that runs from the second half of 2010 till the first quarter of next year.
That forecast represents a rise of up to xx percent from current levels.