CPOPC forecasts palm oil prices could range between RM4,000- 5,000/tonne in 2025
Palm oil prices could range between RM4,000-5,000/tonne (US$899-US$1,124) in 2025 driven by stagnating production in key markets, particularly Indonesia and Malaysia, according to forecasts by the Council of Palm Oil Producing Countries (CPOPC) reported by New Straits Times (NST).
“As global demand for palm oil grows, stagnating production is likely to result in a supply shortage, driving prices higher,” CPOPC deputy secretary-general Nageeb Wahab was quoted as telling Bernama on 6 December.
However, the current price level of around RM5,000 (US$1,124)/tonne could be temporary, largely influenced by Malaysia’s ongoing floods, which had bolstered bullish market sentiment, Wahab added.
In addition, stagnating production – exacerbated by ageing plantations, unpredictable weather and limited expansion into new plantation areas – was expected to strain global supply, further pushing prices upward, Wahab was quoted as saying in the 6 December NST report.
CPOPC is an intergovernmental organisation dedicated to promoting cooperation among palm oil-producing nations.
Full members of the council include Malaysia, Indonesia, Honduras and Papua New Guinea, with Colombia, Ghana, Nigeria and the Democratic Republic of Congo as observer members.
Efforts were underway to bring Thailand, the world’s third-largest palm oil producer, into the organisation, the NST report said.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
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