According to Dorab Mistry, director of Godrej International, Palm Oil price may climb to RM4,000 by the end of the first half, the highest since 2008, amid slow output and high demand in Indonesia and Malaysia. Mistry, who in September correctly predicted the tropical oil would drop to 2,800 ringgit last month, also added that Futures in Malaysia may advance to 3,300 ringgit a metric ton in January and “gradually” increase to 4,000 ringgit.
Source : Bloomberg
Currently, FCPO is at 3180, with opening price at 3172.
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