Crude palm oil prices to remain above US$1,130 in near future – MPOC
The Malaysian Palm Oil Council (MPOC) forecasts crude palm oil prices to remain above 4,450 ringgit (US$1,130) per metric tonne in the near term due to rising energy prices and uncertainty in the Middle East.
According to the council, palm oil prices will be supported by high energy prices and a favorable spread between palm oil and gasoil.
“However, slower economic growth and increased price volatility caused by uncertainty in the Middle East could temporarily delay imports from key markets, potentially limiting price increases.”
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