09:17, 19.03.2008 — Новости
автор: OilWorld.Ru

DJ Vegoil Prices To Recover Soon From Recent Lows-Analyst Mistry


KUALA LUMPUR (Dow Jones)--Vegetable oil prices, which have seen a sharp fall
in recent weeks, may rebound soon as the downward correction has little
correlation with fundamentals, Dorab Mistry, director of London-based trading
company Godrej International and vegetable oil analyst, said late Tuesday.

  "Just as the prices were overdone on the upside (last month), they are now
overdone on the downside," Mistry told Dow Jones Newswires.

  He said there was no fundamental reason for prices to be so low, adding there
was room for a trend reversal.

  The benchmark third month crude palm oil futures contract on Malaysia's
derivatives exchange hit a seven-week low of MYR3,171 a metric ton Tuesday,
before recovering to MYR3,450/ton.

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