MPOC expects CPO prices to stay above RM4,000 in Oct amid market fluctuations

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KUALA LUMPUR: Crude palm oil (CPO) prices are expected to remain stable above RM4,000 per tonne in October despite ongoing market fluctuations, according to the Malaysian Palm Oil Council (MPOC).

"These low stock levels suggest that India will likely increase palm oil imports ahead of the festive season, with an estimated 700,000 tonnes to be imported in October,” it said.

Malaysia’s palm oil production peaked in August this year, two months earlier than in the past three years, which typically peaked in October, MPOC shared.

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Category: EconomyBusiness

Markets: MalaysiaIndiaIndonesia

Topics: MPOC Palm Oil Production Inventories /Business/Business News CPO Commodities

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 16:19:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © The Star

News ID: 23084298

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