PETALING JAYA: The coming La Nina weather phenomenon that will bring heavier than usual rainfall may determine the pace of the current upward trend of crude palm oil (CPO) prices.
Plantation experts generally expect a 75% probability of La Nina occurring from October to December in the South-East Asian oil palm-growing regions. CPO recently rallied to trade at RM3,000 per tonne from a low of about RM2,000 per tonne in May, buoyed by the surge in the prices of its competing peer, soybean oil.
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