Translate This Page

Thursday, December 23, 2010

CPO To Trade Above RM3,000 In 1st Quarter 2011 - MIDF Research

KUALA LUMPUR, Dec 23 (Bernama) -- Crude palm oil (CPO) is expected to trade between RM3,000 and RM3,500 per tonne throughout the first quarter of 2011, MIDF Research says.

It said the projected CPO price for the first quarter next year was lower than current average of RM3,600.

On Wednesday, the third month benchmark ended at RM3,620 per tonne on concern that weather-related horror will cut into production.

MIDF Research said it expected the average CPO price throughout 2011 to be at RM3,000 per tonne, which was 11 percent higher than its previous estimate for this year at RM2,705.

No comments: