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THE solid earnings reported recently by leading local plantation companies largely reflect the buoyancy of the crude palm oil (CPO) market last year, when prices rose by an average of 50% to RM1,343 per tonne compared with the lacklustre average price of RM893 per tonne in 2001.
THE performance of the palm oil industry is expected to improve further this year due to current global factors, with production targeted to rise 5% to 12.2 million tonnes this year and exports projected at 10 million tonnes.
Forecasting Price Trends: A weekly column by G.M. Teoh on Crude Palm Oil, Soyoil, Cocoa and Cash-Tin.
IOI CORP Bhd has turned in another record-setting financial performance for its financial year ended June 30, with pre-tax profit hitting RM812.63mil on revenue of close to RM4bil.
Forecasting Price Trends: A weekly column by G.M. Teoh on Crude Palm Oil, Soyoil, Cocoa and Cash Tin.