Analysts are revising their CPO price outlook to between RM2,100 and RM2,500 per tonne for the remaining part of this year and well into the first quarter of 2015.
PETALING JAYA: The price of crude palm oil (CPO) is well on the road to recovery with the average price targeted at RM2,350 to RM2,400 per tonne this year, and may extend its climb to touch RM2,500 per tonne in the first quarter of next year, said local plantation analysts.
Based on the latest forecasts by international palm oil experts - Godrej International Ltd director Dorab Mistry, LMC International Ltd chairman Dr James Fry and Oil World executive director Thomas Mielke - at the Malaysian Palm Oil Council’s (MPOC) Palm Oil Trade Fair and Seminar (POTS) held in Kuala Lumpur late last week, analysts are revising their CPO price outlook into positive territory at between RM2,100 and RM2,500 per tonne for the remaining part of this year and well into the first quarter of 2015.
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