Malaysian palm oil likely to fall

KUALA LUMPUR: Malaysian palm oil prices are likely to fall after the Muslim holy month of Ramazan due to a pickup in production, industry analyst Dorab Mistry said on Wednesday.

Palm oil will likely trade between 3,600 ringgit and 4,100 ringgit ($814.5 and $927.6) per metric ton from April to November, Mistry told a palm oil conference in Kuala Lumpur.

The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange was trading around 4,566 ringgit per ton in early deals on Wednesday.

“After Ramazan I expect a significant pickup in production and a slide in prices, which will eventually make palm once again competitive,” he said.