KUALA LUMPUR: The price outlook for palm oil remains optimistic in 2024, with an expected average trading price of RM4,000 per tonne, according to the Malaysian Palm Oil Council (MPOC).
In a statement today, it said the positive projection is rooted in the shifting supply and demand dynamics in Indonesia, which is moving towards a negative growth pattern following the implementation of B35 (35 per cent palm oil-based biofuel and 65 per cent diesel) in August 2023.
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