Malaysia’s palm oil sector remains bullish, CPO expected above RM4,000 by year-end

oil sector. “So, the price gap between soybean oil and palm oil has become small,” he told reporters after an industry dialogue with palm oil buyers from China, here today. Johari also said that the price of crude palm oil (CPO) is expected to trade above RM4,000 per tonne by the end of the year. “Today, the price of CPO is still above RM4,200 per tonne. It is normal for the market to fluctuate up and down. We remain confident that the price will trade above RM4,000 per tonne, and we are quite bullish on this outlook,” he said. He also noted that Malaysia remains focused on increasing palm oil yield, using good planting material and avoiding deforestation. “We also focus on turning palm oil waste into a circular economy, such as using empty fruit bunches (EFB) as feedstock for renewable energy and used cooking oil (UCO) for sustainable aviation fuel (SAF),” said Johari. In other developments, Johari said the floods occurring nationwide did not affect palm oil production. ...