CPO price can hit RM3,000 a tonne, says MPOB

Ahmad Parveez says current price range of between RM2,500 and RM2,600 per tonne is good for the industry

KUALA LUMPUR (Bernama) -- Malaysia’s crude palm oil (CPO) price can possibly touch RM3,000 per tonne, if both Malaysia and Indonesia continue to pursue their palm biodiesel mandates, said Malaysian Palm Oil Board (MPOB) director-general Dr Ahmad Parveez Ghulam Kadir.

"With the right sentiment produced by the biodiesel mandates, along with more replanting programmes being carried out and initiatives to explore new markets to increase exports, it is possible to hit the RM3,000-per-tonne level,” he said without giving any timeframe.