KUALA LUMPUR, July 25 — Malaysian crude palm oil (CPO) prices are expected to range higher at between RM5,000 and RM5,500 per tonne in the fourth quarter (Q4) of this year, said...
KUALA LUMPUR, July 25 — Malaysian crude palm oil prices are expected to range higher at between RM5,000 and RM5,500 per tonne in the fourth quarter of this year, said Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin.
“The higher CPO price during that period was influenced by higher prices of soybean oil ; palm oil stocks remained at manageable levels; firmer Brent crude oil price; and concerns over disruptions of vegetable oil supply from the Black Sea region following Russia’s invasion of Ukraine,” she said in a statement today.
“The average CPO price for Q3 2022 is projected to range between RM4,800 and RM5,200 per tonne. For the record, the daily CPO price declined to RM3,631.50 per tonne or 24.9 per cent on July 15 from RM4,838.50 per tonne on July 1,” she added.
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