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Fall in palm oil price may lead to industry consolidation
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Posted on
Dec 03 2008 4:18 AM
by
adeal
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A dramatic fall in palm oil prices may provide an opportunity for plantation giants to add to their holdings, reports Reuters. Palm oil prices have tumbled nearly 70 percent since reaching a high of 4,486 ringgit ($1,239) per ton in March. Closing at 1590 ringgit ($437) Tuesday, prices are now near the 1500 ringgit break-even point for smaller planerts plantations, according to Reuters. Low prices may push acquisitions by well-established players, say industry executives.
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