05 August 2008 09:41 [Source: ICIS news]
SINGAPORE (ICIS news)--The Malaysian government intends to consume crude palm oil (CPO) from its growing inventories in order to manufacture palm methyl ester (PME) in an attempt to halt the downward slide in CPO prices, a senior government official said on Tuesday.?xml:namespace>
Local media reported Peter Chin, ?xml:namespace>
CPO futures have fallen below ringgits (M$) 2,800/tonne ($856/tonne), a far cry from its historical high of M$4,486/tonne just five months ago.
($1 = M$3.27)
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