KUALA LUMPUR: Crude palm oil futures soared to hit a six-week high of RM6,799 per tonne before settling RM133 lower at RM6,222 per tonne yesterday, following Indonesia’s decision to temporarily ban its palm oil exports.
Indonesia President Joko Widodo announced last Friday that exports of cooking oil and crude palm oil (CPO) would be suspended from April 28 in a bid to stabilise prices in the country.
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