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CPO prices likely to remain firm in 2012
by hlk Thu 19 Jan 2012, 18:09
Crude palm oil prices may remain "firm" this year as Brent crude oil
prices advance on rising geo-political tension in the Middle East and as
uncertain weather conditions boost soybean oil prices, according to the
Malaysian Palm Oil Board.
Production will increase this year due
to higher fresh fruit bunch yields and rising oil extraction rates,
director-general Choo Yuen May told an industry conference in Kuala
Lumpur today.
Meanwhile, Malaysia's palm oil export earnings is
expected to hit RM85 billion this year against an estimated RM80 billion
earned in 2011, says Minister of Plantation and Commodities Tan Sri
Bernad Giluk Dompok.
He said the target was achievable based on the upward price trend of the commodity. -- Bloomberg/Bernama
prices advance on rising geo-political tension in the Middle East and as
uncertain weather conditions boost soybean oil prices, according to the
Malaysian Palm Oil Board.
Production will increase this year due
to higher fresh fruit bunch yields and rising oil extraction rates,
director-general Choo Yuen May told an industry conference in Kuala
Lumpur today.
Meanwhile, Malaysia's palm oil export earnings is
expected to hit RM85 billion this year against an estimated RM80 billion
earned in 2011, says Minister of Plantation and Commodities Tan Sri
Bernad Giluk Dompok.
He said the target was achievable based on the upward price trend of the commodity. -- Bloomberg/Bernama
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