date:Aug 05, 2014
ion in the United States, have dragged soyoil prices and narrowed the spread to competing palm.
Weaker soyoil prices paint a bleak picture for palm, a common food and fuel substitute, as it has to remain competitive to rival soyoil or risk losing demand to price-sensitive buyers such as India and China. Kenanga Investment Bank analyst Alan Lim cut forecasts for average crude palm oil prices this year to 2,500 ringgit per tonne from 2,800 ringgit, citing lower soybean oil prices estimates.
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