KUALA LUMPUR: PPB Group Bhd
, whose main businesses include sugar refining as well as wheat flour and animal feed milling, sees commodity prices remaining volatile due to heavy speculation by hedge funds and demand from biofuel producers.
“It's complicated. Wheat prices are being driven by corn prices, which is used as a feedstock for biofuel and when farmers cannot feed their livestock maize, they feed them wheat, which is then driven up,” said chairman Datuk Oh Siew Nam.
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