Industry analysts say there are not many factors, other than emerging biofuel demand, to sharply lift palm oil prices in the next six months
SINGAPORE: The tide is turning in favour of palm-based biodiesel producers, who aim to boost output in coming months because of improving margins after a near-50 per cent drop in palm oil prices from their record high six months ago.
Industry analysts attending a three-day conference said this would prevent crude palm oil prices from falling much below RM2,300 a tonne on the Bursa Malaysia Derivatives Exchange, from the current level of about RM2,376.
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