Biofuel demand: global palm, soy oil prices seen firming

Global prices of palm and soy oils would firm up in the first half of next year with consumption outstripping production, industry analysts said on Saturday.

..”For 2005/06, we expect soy oil prices to trade relatively stronger than soymeal. Additional demand for soy oil and other vegetable oils for biofuels will be a key bullish factor,” Thomas Meilke, editor-in-chief of Hamburg-based Oil World, told a vegetable oils conference in Mumbai, India’s financial hub.

Jang