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MPOB: Record-breaking CPO price due to high exports, low stocks

KUALA LUMPUR (April 12): Malaysia’s crude palm oil (CPO) price breached RM4,270 per tonne on April 9, surpassing the all-time previous peak of RM4,247 per tonne recorded on March 15, 2021, said the Malaysian Palm Oil Board. Director-general Dr Ahmad Parveez Ghulam Kadir said that among the factors contributing to this was the increase in exports and low stocks despite reports of production increase. “Prices of other soft oils are also high and the CPO is expected to sustain above RM3,500 for two to three months. “This is despite the increase in production as seen in March where it increased from 1.1 million tonnes to 1.4 million tonnes,” he told

Palm oil: US demand to continue with increased vaccinations, lifted lockdowns, says industry player

Palm oil: US’ demand to continue with increased vaccinations, lifted lockdowns, says industry player Globally, vaccine rollouts are the order of the day and as Covid-19 cases decline, stringent lockdowns will likely be lifted. In relation to palm oil and the United States’ demand for the commodity, Global Agri-Trade Corporation director of sales Benjamin J. Perez sees continuity arising from the positive developments. He believes the US is heading towards a more prosperous market environment, hence opening more opportunities for sustainable palm oil to enter the country. “The Covid-19 pandemic has really changed the market in US with the recent trends in the market, focus on sustainability amongst the rallying charges of non-governmental organisations and consumer advocacy groups,” he said at the virtual Palm Oil Internet Seminar (POINTERS) 2021.

Moderate recovery seen for M sia s palm oil exports in 2021

Chief executive officer Datuk Dr Wan Zawawi Wan Ismail said the price forecast was based on uncertainties pertaining to the Covid-19 pandemic recovery, political situation and stimulus package PETALING JAYA: Malaysia’s crude palm oil (CPO) exports are expected to see a moderate recovery with the CPO production reaching 19.6 million tonnes for 2021 compared with 19.14 million tonnes last year, the Malaysian Palm Oil Council (MPOC) said. Chief executive officer Datuk Dr Wan Zawawi Wan Ismail said the price forecast was based on uncertainties pertaining to the Covid-19 pandemic recovery, political situation and stimulus packages. “We forecast the average CPO price to be at RM3,846 per tonne for the first quarter and second quarter of 2021, ranging from a low of RM3,502 per tonne to a high of RM4,190 per tonne, ” he said at the virtual Palm Oil Internet Seminar 2021 yesterday.

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