Palm Oil May Surge to 3,000 Ringgit a Ton by March, Mistry Says

Dec. 4 (Bloomberg) -- Palm oil prices may soar to 3,000 ringgit ($887) a metric ton by March on potential disruption to world edible oil supplies, said Dorab Mistry, director of Godrej International Ltd.

“We must fear for crude palm oil production in 2010,” he said at an industry conference in Bali, Indonesia today. “It is conceivable that 2010 crude palm oil production will turn out to be less than 2009.”

Mistry previously forecast prices would reach 3,000 ringgit by the end of 2010.