Dry weather could curb palm oil output in top producers Indonesia and Malaysia, but traders' projections for combined exports in 2010 stand at 33.82 million tonnes, or more than triple the soyaoil shipment estimates of research group Oilworld. Read more
Tuesday, March 9, 2010
Palm oil narrows price gap with rival soyaoil
Asian palm oil is fast closing the price gap with rival South American soyaoil in a trend set to accelerate in 2010 as supplies of palm are poised to outstrip soyaoil.
Despite expected bumper soya crops in the Americas, palm oil supply this year will exceed soyaoil, as higher biofuel mandates, soya rust disease infecting Brazilian crops and a tussle between Argentine grain farmers and the government give palm the edge.
Dry weather could curb palm oil output in top producers Indonesia and Malaysia, but traders' projections for combined exports in 2010 stand at 33.82 million tonnes, or more than triple the soyaoil shipment estimates of research group Oilworld. Read more
Dry weather could curb palm oil output in top producers Indonesia and Malaysia, but traders' projections for combined exports in 2010 stand at 33.82 million tonnes, or more than triple the soyaoil shipment estimates of research group Oilworld. Read more
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