The Malaysia Palm Oil Council has predicted crude palm oil (CPO) prices to hit RM2,594 per tonne in the second half of 2020 and averaging at RM2,337 for the year.
PETALING JAYA: The palm oil industry may see a full recovery in the fourth quarter of the year if the Covid-19 pandemic is manageable and contained, the Council of Palm Oil Producing Countries (CPOPC) says.
The council also believes 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.
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