CPO likely to trade higher at between RM2,700 and RM2,800 this year

KUALA LUMPUR: Palm oil industry players have more reason to celebrate following expectations of crude palm oil (CPO) trading better this year, as an average price of RM2,700 to RM2,800 per tonne has been forecast for 2017 compared with about RM2,600 per tonne last year.

Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said total industry revenue of Malaysia’s palm oil sector is also expected to be higher in 2017 on the back of a higher CPO production.