KUALA LUMPUR/SINGAPORE: Crude palm oil (CPO) prices will not drop below US$500 a tonne this year if markets for crude oil stay around current levels, leading sector analyst James Fry told Reuters this week.
MUMBAI: India has raised import tax on crude and refined palm oil to the highest level in more than a decade, the government said in a statement on Thursday, as the world's biggest edible oil importer tried to support local farmers.
Rabobank maintained its bearish view on palm oil prices by keeping its forecast for Q1 at an average of MR2,600/mt or $662.40/mt, the bank said in its monthly commodities forecast report released Wednesday.
SINGAPORE: Malaysia will press the European Union not to ban palm oil in biofuels during talks this week, the country's trade minister said on Thursday (Mar 1), warning the move would hit the rural poor.
Former Malaysian deputy prime minister Datuk Musa Hitam has said Indonesia and Malaysia can fight back against the European Unions that is carrying out negative campaign against palm oil products – the major commodity of the two countries.