Zero duty boosts CPO prices

THE impact from the imposition of zero export duty on crude palm oil (CPO) by Malaysia, and more recently Indonesia, has been gradually reflected in the current CPO price, which has gained some ground after falling to a five-year low last month.

In fact, international commodity trader Dorab Mistry told a Global Oils conference in Mumbai last week that for CPO futures to regain its competitiveness, the prices will need to drop to RM1,900 per tonne to revive consumption from major buyers.