Nomura: Palm oil prices fall; prices may remain at high levels.

Palm oil fell during the Asian trading session, but remained at a high level. Nomura analysts Raghavendra Divekar and Amol Dongre wrote in a report that this week the price of crude palm oil may be supported by a softening ringgit and tightening inventories in Malaysia. These analysts suggest that the price of crude palm oil this week may average around 4,700 ringgit per ton, but cooling tensions in the Middle East and falling crude oil prices may push the price below 4,600 ringgit per ton. The contract for June delivery on the Malaysian Derivatives Exchange fell 27 ringgit to 4,812 ringgit per ton.