Palm oil industry may see full recovery in 4Q

"CPOPC remains optimistic that palm oil is heading for a price recovery in the second half of 2020 due to improving global consumption and dwindling production after the Covid-19 outbreak, ” it said in a statement on Wednesday.

KUALA LUMPUR: Palm oil industry may see a full recovery in the fourth quarter of this year if the Covid-19 pandemic is manageable and contained, Council of Palm Oil Producing Countries (CPOPC) said.

The council also believed that there is a possibility of a rebound in the market given the ultra-loose monetary policies of many central bankers and the government’s stimulus package.