Palm oil prices to fall sharply in second half of 2022: Dorab Mistry

KUALA LUMPUR: Prices of palm oil and other commodities may see a decline in the second half of the year as a possible stagflation and recession squeeze demand, leading analyst Dorab Mistry said on Wednesday.

Crude palm oil futures are likely to decline to 5,000 ringgit ($1,196) a tonne and eventually to 4,000 ringgit by September, Mistry, director of Indian consumer goods company Godrej International, said at an industry conference in Kuala Lumpur. Prices are currently just under 6,500 ringgit.