SINGAPORE: Malaysian palm oil prices will likely rise to between RM1,500 and RM1,550 a tonne in the near term from RM1,470 as European demand for alternative fuels grows with the rise in crude oil prices, a top industry official said on Tuesday.
The Malaysian Palm Oil Association chief executive Azizi Meor Ngah told Reuters prices were expected to rise despite expectations of an increase in domestic output to 15.2 million tonnes in 2006 from last year's 14.9 million.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!