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Grain prices to remain lacklustre in 1H17, says Olam CEO
Balance-sheets are "burdensome" across the grain complex.
2017 may be kicking off to a rough start for Olam International Ltd. (Olam), one of the world's largest food commodities traders. Bloomberg reveals in a report that on back of oversupply in tandem with softening Chinese demand weighing on crops, grain prices are expected to be low in the first half-year.
"Prices will stay low for the next six months," Olam’s chief executive officer, Sunny Verghese, said to Bloomberg in an interview. "We have very burdensome balance-sheets across the entire grain complex.”
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