04 January 2011 07:05 [Source: ICIS news]
Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed at ringgit (M$) M$3,867/tonne ($1,260/tonne) on the continuing strength from other vegetable oils markets and concerns over tight supplies, sources said.
The implementation of B5 biodiesel, which contains 5% palm-based biofuel, was now expected to be delayed to June as officials await the next harvest period in March and April that would determine palm oil prices in the second and third quarters of the year, sources said.
“If palm oil price hikes up again in Q2, I believe it is unlikely that
($1 = M$3.07)
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