I've been watching the palm oil price as shown in the ticket on...

I've been watching the palm oil price as shown in the ticket on CNBC Asia's pay tv channel and I've noticed the price rose sharply to a record high of 4,200+ last week.

This week the price has plummeted down to a bit over 3,200. I presume the price rise was due mostly to speculators and the sudden drop possibly to do with the credit crunch and Bear Sterns problems.

Still has a way to go for the price drop to make biodiesel production economic but it's nice to see it come back off it's recent record highs.