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Palm oil prices on the rise
Our Bureau
Date of posting: 09-06-07
      Price of palm oil was on the rise in the last time. Palm oil prices in Malaysia, the world's largest producer of that commodity, have climbed to record heights.

       India is the worlds second largest buyer after China, importing close to five million tonnes of vegetable oils annually. Just over half of which is palm oil. As the demand for oil is nearly stable (for cooking), it is expected that the price for other edible oils might also rise.

      Vegetable oil prices have almost doubled in the last few months, moving from $440 per tonne in February to a record $835 per tonne in June.

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