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.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
