KUALA LUMPUR: Malaysia’s crude palm oil (CPO) price can possibly touch RM3,000 per tonne, compared with Tuesday’s level of RM2,493 per tonne, if both Malaysia and Indonesia continue to pursue their palm biodiesel mandates, said Malaysian Palm Oil Board (MPOB) director-general 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.
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