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Industry experts upbeat about climbing price of palm oil (COMMODITIES):

The palm oil industry may see the light at the end of the tunnel next year as the price of palm oil is expected to maintain its upward trend after falling to a record low two years ago, industry experts have estimated. Dorab Mistry from Indian consumer goods producer Godrej International Ltd. projected that the crude palm oil (CPO) price would rise from around US$735 per ton at present to $800 per ton -based on CIF Rotterdam – by January next year. Despite high production in September and October, stockpiles remained lower than expected, he added. “The peak of production has passed […] We are going to enter a period of tighter stocks, and as a result, higher prices,” Mistry said during the 13 th Indonesian Palm Oil Conference. (THE JAKARTA POST)