MPOC Forecasts Palm Oil Prices Above MYR4,600 in September

The Malaysian Palm Oil Council (MPOC) forecasts crude palm oil prices to remain above MYR4,600 per tonne in September. This prediction is based on tightening supply and ongoing geopolitical disruptions that have altered global trade flows.

Palm oil futures traded on Bursa Malaysia Derivatives were above MYR5,000 per tonne as of mid-August, reflecting concerns over the potential impact of El Niño on production.

Malaysia's palm oil production increased by 9.4% month-on-month in July to 1.79M tonnes, but remained below last year's level for the fifth consecutive month.