Palm oil industry set to boom as economies reopen

Malaysian Palm Oil Board director-general Ahmad Parveez Ghulam Kadir said that since mid-May, Malaysia has begun to witness a resurgence in CPO prices.

KUALA LUMPUR: After a dramatic slowdown in the first quarter due to the coronavirus lockdowns imposed by countries across the globe, the palm oil bulls are on the move again and ready to charge the market in the second quarter onwards.

As businesses throughout the world are allowed to resume operations again, this would only mean more demand for the edible and versatile oil.