Malaysian analysts say crude palm oil prices to stay in $440-$500 per tonne price range in 2009

In Malaysia, research analysts said that they expect the country to carry a palm oil inventory of 540 million gallons, as crude palm oil production remains high and demand remains sort. The analysts said that the large inventories are likely to prevent major price recovery for palm oil, which has dropped more than 70 percent in price this year from $1180 per tonne.  They said that they expect average prices for palm oil in the $440-$500 price range for 2009.

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