Bloomberg - Palm oil dropped to the lowest level in four weeks as global production of palm and soybeans is set to climb this year on increased acreage.
Palm oil will probably decline this year after Asian producers boosted acreage and global oilseed supplies rose, said Dorab Mistry, a Godrej International Ltd. director who has traded the commodity for more than 30 years. The expansion of estates will increase output, while bad weather that disrupted soybean supplies in 2012 will prompt farmers to ramp up harvests, said Mistry. Soybean oil also fell for a fifth day.
Full article : http://www.bloomberg.com/news/2013-02-26/palm-slumps-to-four-week-low-as-global-oilseed-harvests-expand.html
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