CRUDE palm oil (CPO) prices are expected to rise by a quarter and hit RM3,000 a tonne in the next six months, due to global demand outpacing dwindling supply and stockpile.
Other factors include a poor Argentinian soyabean harvest, limited edible oils in India and a lower national CPO production.
CPO is trading at around RM2,400 now.
Malaysian Palm Oil Council chief executive officer Tan Sri Dr Yusof Basiron said all signs point towards a firmer CPO price in the next six months. This includes a depleting national stockpile of 1.3 million tonnes from 2 million tonnes last year and the El Nino.
CRUDE palm oil (CPO) prices are expected to rise by a quarter and hit RM3,000 a tonne in the next six months, due to global demand outpacing dwindling supply and stockpile.
Other factors include a poor Argentinian soyabean harvest, limited edible oils in India and a lower national CPO production.
CPO is trading at around RM2,400 now.
Malaysian Palm Oil Council chief executive officer Tan Sri Dr Yusof Basiron said all signs point towards a firmer CPO price in the next six months. This includes a depleting national stockpile of 1.3 million tonnes from 2 million tonnes last year and the El Nino.
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