European crude palm oil prices are forecast to rise to $620 a tonne, or $570 free on board, by the second quarter of 2020 as stockpiles decline, James Fry, chairman of commodities consultancy LMC International, said on Thursday.
KUALA LUMPUR: Malaysian palm oil futures rose more than 1% in afternoon trading on Thursday after bullish forecasts at an industry conference in India.
Prices also gained support by Malaysia's announcement that it would grant export duty exemptiuons for crude palm kernel oil and RBD palm kernel oil from Oct. 1 until the end of next June to reduce stockpiles in the domestic market.
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