Soybean Expected to Replace Crude Palm Oil as Edible Oil Price Driver

The London-based Godrej International is of the opinion that the global edible oil complex is going to witness a change in dynamics. The crude palm oil (CPO) will be replaced with soybean as the edible oil price driver in the next 12-18 months due to a fall in global supply of the oilseed in 2016-17. Bad weather conditions have impacted the harvest after five back-to-back years of bumper harvests in South America and the US. Soybeans is expected to be at $12 a bushel very soon.

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