Crude palm oil (CPO) prices, which have averaged between RM1,400 and RM1,600 per tonne this year, could receive a 10% to 15% boost should the El Nino weather phenomenon return later this year.
In 1997-98, the price of CPO had rocketed to as high as RM2,300 to RM2,500 per tonne due to the low production of world oilseeds caused by a severe El Nino.
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