PALM oil futures may drop to RM2,000 (US$573) a metric ton if inventories pick up in September as production peaks, according to Dorab Mistry, director of Godrej International Ltd.

A tight supply situation will keep the commodity between RM2,100 and RM2,300 “for the next few weeks” until the data provided guidance, Mistry said, according to a presentation prepared for delivery today in Istanbul. If prices fell, that would be a “buying opportunity,” he said.