Palm oil expert Dr James Fry is maintaining his forecast that crude palm oil (CPO) price (free on board) could hit above US$600 (RM2,575) per tonne by end of the first quarter 2016 without the occurrence of the El Nino phenomenon.
"But should a full blown El Nino happen, this will take CPO prices above US$700 (RM3,004) per tonne by middle of next year," he pointed out.
He expected that the world CPO output would fall due to El Nino by 6% to 7% below this year's production.
This is notwithstanding the growing maturity of many young palms in Indonesia.
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"But should a full blown El Nino happen, this will take CPO prices above US$700 (RM3,004) per tonne by middle of next year," he pointed out.
He expected that the world CPO output would fall due to El Nino by 6% to 7% below this year's production.
This is notwithstanding the growing maturity of many young palms in Indonesia.
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