The Malaysian palm oil rally could be closer to its end as higher prices may hurt demand for the edible oil, Credit Suisse Group AG said in a report today.
During the commodity rally of 2008, palm oil prices remained above RM4,000 per metric ton just for two days, Tan Ting Min, an analyst at Credit Suisse, said.
Palm oil futures, where foreign participation is at a record high, is vulnerable to “profit-taking,” she said. -- Bloomberg