Tight supply of vege oils set to support CPO

The global palm oil demand is forecast to increase in 2020-2021, by 2.2 million tonnes or 3% y-o-y to 77.5 million tonnes

PETALING JAYA: A deficit situation in the global vegetable oils will lend support to crude palm oil (CPO) prices going into 2021, says Rabobank.

The specialist food and agribusiness bank had forecast that the average CPO price will be 5.7% higher at RM2,750 per tonne for next year compared with this year.