KUALA LUMPUR – The El Nino which is predicted by Australia’s Meteorology Bureau will about to happen in next several months. This could effect to palm oil production and will increase the importer countries demands on crude palm oil (CPO), like China.
Analyst Investment Bank Bhd., Ong Chee Ting in the official report, Wednesday (13/5) as quoted from Bloomberg said, El Nino could increase the CPO price to be RM 2.500 or equals to US$ 694 per ton in the next three months.
“In next several months, we hoped, the CPO exports, like China, will increase their stocks and make the defensive strategy in the future time,” he explained(T3)
