Palm Oil : Challenges, Opportunities And Latest Market Directions:
India Vegetable Oils Demand Scenario - Impact on Global Oils and Fats Prices in The Second Half of 2012
Mr. Dorab E. Mistry
Mr. Dorab Mistry was born in India in 1953 and graduated from Bombay University in Commerce in 1973. He qualified as a chartered accountant in 1976, having won the President’s Gold Medal. He started his career at GODREJ, one of India’s leading industrial groups, in 1976. Since 1977 Dorab has been based in London handling the vegetable oil buying and trading portfolio for GODREJ. The company’s wide ranging interests in vegetable oil processing, animal feeds, oleo chemicals, alcohols, soaps, toiletries, foods and plantations gives him a unique perspective of the Indian vegetable oil scenario.
Since 1996, Mr. Mistry has been a regular speaker on vegetable oil Price Outlook and is regarded as a leading analyst of price behaviour. He also writes and speaks regularly on the Indian economic scene. He has served as India’s representative on the managing committee of the International Association of Seed Crushers. He was Vice President of the IASC 2006-2008.
Mr. Dorab Mistry has been President of the Zoroastrian Trust Funds of Europe from 1997 to 2005. He is currently a trustee of the Interfaith Network of the UK and Vice Chairman of the Faith-Based Regeneration Network of the United Kingdom.
In this paper, Mr. Dorab Mistry will review and analyse developments in vegetable oil prices subsequent to the Price Outlook conference of March 2012 in Kuala Lumpur. At POC, Mr. Mistry had made a very bullish forecast for palm oil prices, saying that CPO futures on the Bursa Malaysia were likely to hit 4000 Ringgits by the end of June 2012. He was also very pessimistic about CPO production prospects for 2012, saying that Malaysian CPO production for the year would be 18.6 to 18.9 million tonnes only. In light of recent developments and the general commodity selloff that has been seen in most commodity markets, he will comment on those developments. He will further discuss CPO production this far and give a prognosis for the rest of the year. He will also analyse Demand, particularly from India and also from other major palm oil markets. Lastly, he will make a forecast for price behaviour for the second half of 2012.
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