Palm oil may slump to as low as 2,800 ringgit ($952) per metric ton in September as output jumps in Malaysia and Indonesia, the world’s two largest growers, according to Dorab Mistry, director of Godrej International Ltd.
Malaysian output may gain 2 million tons to 19 million tons in 2011, Mistry told a symposium in Sydney today, according to an advance copy of his remarks. Indonesian production may rise 3 million tons to 25.5 million tons, said Mistry. Palm oil lost as much as 1.4 percent to 3,085 ringgit in Kuala Lumpur today. http://www.bloomberg.com/news/2011-07-28/palm-oil-may-drop-to-952-on-malaysia-indonesia-output-jump-mistry-says.html '+'
