Prices of Selected Oils and Fats and Prospects of Palm Oil Price in 2007
Prices of most oils and fats were generally bullish during the period of 2001 to 2004. They moved in tandem, forming a general up trend during the period. However, they were bearish the following year, then recovered in 2006. But this was not the case with cottonseed oil where price independently followed a different pattern since 2001. In 2007, the prices are expected to continue to strengthen. As indicated by their performance in the first-quarter of 2007, they will continue to perform better for the remaining months of the year. The most notable will be the palm oil. The high demand for palm oil has led to a decline in its stocks and, consequently increase in its price.