Macquarie Capital Securities (Malaysia) Sdn Bhd raised its 2011 forecast for palm oil prices by 8 per cent to an average RM2,851 a metric ton on expected substitution demand.

Malaysia’s palm oil exports fell 4.7 per cent in the first 25 days of October, independent market surveyor Intertek said.

A total of 1,108,384 metric tons of the commodity were tracked on Oct. 1 to 25, versus 1,162,573 tons in the same period in September, Intertek said in an e-mail statement in Kuala Lumpur. — Bloomberg

Source: Business Times