20110722 1751 Palm Oil Related News.

SINGAPORE (Dow Jones)--Crude palm oil futures on Malaysia''s derivatives exchange will likely trade between MYR2,900 and MYR3,100 a metric ton for the rest of the year, as supply and demand factors to more or less counterbalance one another, an executive at Thailand''s top palm oil producer said Friday. CPO''s wide discount of about $100 a metric ton to rival soyoil will likely lure more price-sensitive buyers, helping to draw down stocks in producing countries and preventing a precipitous price slide, Univanich Palm Oil PCL (UVAN.TH) Managing Director John Clendon said, adding that strong Indian demand ahead of the Diwali festive season as well as increased biodiesel demand in Europe will also boost exports.