Veteran Trader Sees Palm Hitting Three-Year High on Biofuel Push

Palm oil prices may surge to a three-year high of 5,500 ringgit ($1,332) a ton in the first quarter of next year if global supplies are squeezed by rising use...

By Anuradha Raghu, Eko Listiyorini · Bloomberg Markets

Palm oil prices may surge to a three-year high of 5,500 ringgit ($1,332) a ton in the first quarter of next year if global supplies are squeezed by rising use in biofuels, according to veteran trader Dorab Mistry.