KUALA LUMPUR (March 8): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives (BMD) are projected to trade between RM4,000 and RM5,000 per tonne from the present until August, according to Godrej International Ltd director and edible oil analyst Dorab Mistry.
He warned that weather is going to be the biggest factor affecting prices.
"A new El Nino could drive prices higher so as to destroy demand.
"[However] If (there is) no El Nino, we can see lower prices after August," Mistry said at the Palm and Lauric Oils Price Outlook Conference and Exhibition here.
CPO futures contracts for the coming months are mostly trading at slightly over RM4,000 per tonne currently.
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