Too often and too frequent you get many people give their 2sen worth of opinion and views. The American uses the slang 2sen opinion to express themselves accordingly.
KUALA LUMPUR: Palm oil industry expert James Fry expects crude palm oil (CPO) prices to remain firm, trading above RM3,000 per tonne this year as production prospects in Indonesia and Malaysia soften.
He projected CPO to trade between RM3,000 and RM3,100 per tonne in the next two to three months.
“For the first half of 2020, we expect CPO prices to remain at an average of RM3,000 per tonne as production prospects remain soft due to slowing in demand of fertilisers and the prolonged dry spells,” he said at the Malaysian Palm Oil Board’s (MPOB) Review & Outlook Seminar 2020 here yesterday.
For the second half of the year, CPO prices will likely trade between RM2,750 and RM2,800 per tonne assuming that the crude oil prices remain at the current level, added Fry.
Another speaker at the seminar, RHB Research Hoe Lee Leng expected CPO prices to consolidate following the significant jump to trade between RM2,700 and RM3,000 per tonne in the first half of the year.
“Overall, this year will be a better year for CPO price and the long-term prospects for CPO are positive due to slowing rate of new replanting programme in Malaysia and Indonesia since 2015,” she added.
Meanwhile, Bernama reported that MPOB director-general Dr Ahmad Parveez Ghulam Kadir expects 2020 to be a better year for the palm oil industry, with the CPO price seen averaging at RM2,750 per tonne.
(THE STAR)...
Planters .... Media .... and many streams love bull farts .... I can reproduce all the news media ...and all the bullshits we see ...
The truth is LET THE CHART BE THE GUIDE ... As the old saying goes .. Even a broken clock rings 12 twice .... meaning once awhile this forecast will turn out right after missing the rest.
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