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Palm prices could rise to RM2,950/T in January if Brent oil gains — analyst Fry

Palm prices could rise to RM2,950/T in January if Brent oil gains — analyst Fry

NUSA DUA, Indonesia (Nov 3): Malaysian crude palm oil (CPO) prices could rise to a high of RM2,950 (US$697) per tonne in January before falling to RM2,600 if oil prices rise until the second quarter of the year, leading analyst James Fry forecast on Friday.

Fry, the chairman of commodities consultancy LMC International, had last forecast in September for Malaysian benchmark prices to fall below RM2,400 per tonne in November and December, as overseas appetite for the commodity falters over the winter period.

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