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Commodities

Malaysia oil palm planters focusing to boost yield, cut cost

Moves to weather weak prices tracking sluggish global demand, hefty inventory

Crude palm oil prices have fallen sharply over the past two years, worsened by sluggish demand.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- Malaysian palm planters are focusing to boost yields and cut costs to ride out feeble crude palm oil prices that are expected to remain subdued through several months ahead.

Price of crude palm oil is expected to average "slightly below" 2,000 ringgit ($486) per metric ton in the next 18 months, state-run FGV Holdings' Chief Executive Haris Fadzilah Hassan told Nikkei Markets. Prices are likely to stay low unless both Indonesia and Malaysia push for higher blend of palm oil in biodiesel, he said.

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