Palm oil to rise by 10% to USD 700 a tonne

Hyderabad,

International palm oil prices are expected to rise by at least 10 per cent due to soya production in Argentina being affected by floods there, CEO of Malaysian Palm Oil Council (MPOC) Yusof Basiron said today.

India imported nearly 4 million tonnes of palm oil last year and may import more this year due to increase in domestic consumption, he said here.