El Nino drying out

Stable price: Plantation analysts said the average CPO price this year will remain at comfortable levels of RM2,400-RM2,700 per tonne against last year’s average of about RM2,153 per tonne.

PETALING JAYA: The bullish crude palm oil (CPO) price projections of between RM2,800 and RM3,000 per tonne in the next two months may be short-lived as the production in most plantations recovers with the El Nino dry weather drawing to an end.

Plantation analysts, however, said the average CPO price this year will remain at comfortable levels of RM2,400-RM2,700 per tonne against last year’s average of about RM2,153 per tonne.