Oil World said the price of palm oil production increased by suppressing
headquartered in Hamburg, Germany, the world oil industry body said the global palm oil production in 2011 will increase significantly, especially from April or May start, palm oil yield may suppress prices. Palm oil futures prices last year rose 42% in 2010 to Paris, rapeseed futures rose by 87%.
Oil World said, corn, soybeans, wheat, cotton, sunflower and rapeseed cultivated competition, will support prices, especially in many cases, the low supply of agricultural products. Because of slow demand for the energy sector, rapeseed and rapeseed oil prices are likely to face down.
Oil World, said rapeseed oil and rapeseed based on current prices, the biofuels industry is clearly starting to consider non-performance blending of biofuels policy, and more willing to pay a fine of 60 cents per liter. Rapeseed prices could lead to bio-fuel producers choose to pay a fine, rather than the implementation of biofuel blending policy.
According to the U.S. Department of Agriculture data show that the 2010/2011 annual global palm oil production will grow by 6.9% to a record 47.9 million tons.
Malaysian crude palm oil futures rose Thursday, the USDA by the bullish supply and demand report and the CBOT electronic trading oil futures gained support. (Huang Yu)
