The price of crude palm oil (CPO) is predicted to drop badly by the end of 2022. This was stated by the Director of Godrej International Ltd. Dorab Mistry when speaking at the 2022 Globoil AGRA. In a video presentation broadcast on Tefla's Events Youtube account (Globoil Organizer), September 26, 2022, Dorab said that the price of CPO on the Bursa Malaysia Derivatives would continue to fall to MYR3,000 per tonne at the end of September 2022.
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Jakarta, CNBC Indonesia - "And the price will continue to fall to MYR2,500 per tonne at the end of December 2022," said Dorab, quoted Tuesday (27/9/2022). According to Dorab, the potential drop in CPO prices was triggered by the potential for increased supply of CPO to the global market. On the other hand, he said, the main market countries for CPO in the world are currently dominated by developing countries which are facing big problems. "Production in producing countries is currently recovering very strongly. And, we have seen a cut in demand due to high prices. The reason I am so bearish is also because of the recession in countries with large economies," said Dorab. "Also, the main market for CPO is in developing countries, such as Africa, India, Bangladesh, China, Myanmar. And all these countries except India are experiencing payment problems and the US dollar is expensive, infrastructure problems. The economy in these countries is weak and there is no potential for strong ...
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