M’sian palm oil price seen averaging RM2,410 per tonne

The MPOC is a government organisation that promotes Malaysian palm oil. Its production forecast is above that of the Malaysian Palm Oil Board, an industry regulator and research body, which expects a slight 20,000 tonne decline to 19.9 million tonnes, due to lower fresh fruit bunch yield brought about by less rainfall.

KUALA LUMPUR: Malaysian palm oil price is set to average RM2,410 (US$591) a tonne in 2018, the Malaysian Palm Oil Council (MPOC) has forecast, down about 14% from last year’s average prices, according to Thomson Reuters Eikon data.

Palm oil prices started 2018 at levels above RM2,500 a tonne, but have since drited lower.