KUALA LUMPUR (April 5): Malaysia’s crude palm oil (CPO) exports are expected to see a moderate recovery with CPO production reaching 19.6 metric tonnes (MT) in 2021, compared with 19.14 MT last year, the Malaysian Palm Oil Council (MPOC) said.

Chief executive officer (CEO) Datuk Dr Wan Zawawi Wan Ismail said the price forecast is based on uncertainties pertaining to Covid-19 pandemic recovery, the political situation and the stimulus packages introduced.

“We forecast the average CPO price to be at RM3,846 per tonne for the first quarter and second quarter of 2021, ranging from a low of RM3,502 per tonne to a high of RM4,190 per tonne,” he said at the virtual Palm Oil Internet Seminar (POINTERS) today.

Source : The Edge Markets