Asian palm oil producers facing a good year
Friday, 27 June 2008
JAKARTA, June 26: High global prices for palm oil mean good times ahead for Asian producers over the next 12 to 18 months but little growth in much-touted biofuels, credit rating agency Moody's said today.
"A rapid rise and continued high prices for crude palm oil (CPO) during the past 18 months have strengthened balance sheets in Asian palm-oil producers, who responded by buying more plantations and increased planting of greenfield properties," Moody's said in a report.
"A rapid rise and continued high prices for crude palm oil (CPO) during the past 18 months have strengthened balance sheets in Asian palm-oil producers, who responded by buying more plantations and increased planting of greenfield properties," Moody's said in a report.