PETALING JAYA: International palm oil expert and trader Dorab Mistry expects the price of crude palm oil (CPO) to rebound quickly with an upside of RM200-RM250 per tonne after its recent sharp drop over the past few days.
Mistry, who is a director of Godrej International Ltd, pointed out that the commodity could even rise further by RM300-RM400 per tonne, mainly supported by higher soybean oil prices and the recovery in demand from India given the improvement in the Covid-19 situation there.
Sharing his outlook on global vegetable oils at a recent webinar hosted by UOB Kay Hian (UOBKH), Mistry remained bullish on the prices of vegetable oils, moving forward.
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