Palm oil futures to stay strong till next March
KUALA LUMPUR: Palm oil futures will stay strong at least until next March on an increase in export levies by top grower Indonesia, with supplies seen tight during the first two months of next year, according to veteran trader Dorab Mistry.
The most-used vegetable oil is expected to trade between RM4,000 and RM4,400 per tonne during the October-February period, before slightly dropping in March, Mistry, director at Godrej International Ltd, said at the Globoil conference on Saturday.
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