date:Mar 07, 2013
, Mistry did not foresee prices falling below 1,800 ringgit unless Brent crude oil drops under $80 per barrel from around $112 on Wednesday.
But food and energy demand for vegetable oil should remain supported by low prices, especially after the U.S. Congress passed a blending tax credit for biodiesel in January.
I am estimating world food demand to grow by 3.5 million tonnes, mainly as a result of lower prices, said Mistry, noting that biodiesel demand worldwide could expand by about 1 millio