KUALA LUMPUR: Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong hopes that crude palm oil (CPO) prices will continue to trend at higher levels, especially since Malaysia has some 600,000 smallholders. He maintained his CPO price projection at RM2,700-RM2,800 per tonne this year, higher than 2016’s average price of RM2,653 per tonne and RM2,513 per tonne in 2015. “And we hope to be able to harmonise the CPO export duty structures of both countries. We did not implement it earlier because of the structural price gap between the world oil price and CPO price. The new biodiesel formula is expected to utilise 750,000 tonnes of palm oil each year, according to reports.

Source: thestar March 07, 2017 23:03 UTC