Malaysian crude palm oil prices to remain above $1,134 in the near future – MPOC
The Malaysian Palm Oil Council (MPOC) forecasts crude palm oil prices to remain above 4,500 ringgit (US$1,134) per metric tonne in the near term, supported by better economics of biodiesel production, high crude oil prices, and the potential for El Niño-related weather patterns.
However, the council believes prices will likely be constrained by declining export demand amid inflation and slowing economic growth in key importing countries.
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