[Dow Jones] BMD CPO futures have slipped on bearish price forecasts by noted vegoil analysts James Fry and Thomas Mielke at a palm oil conference that is under way in Kuala Lumpur. Palm oil prices could--in a worst-case scenario--fall to MYR2,250/ton in the second half of the year as CPO output rises in Malaysia and Indonesia amid inflation-fighting measures, Fry says. Average CPO prices will likely fall to MYR2,850/ton in October-December due to rising stocks and output, Mielke says. A Singapore-based trader tips BMD CPO futures to remain rangebound at MYR3,550-MYR3,620/ton levels in afternoon trade. The benchmark May contract is trading MYR7 lower at MYR3,577/ton.
Keyword search FRY or MIELKE to read more. (surabhi.choudhary@dowjones.com)
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