Palm oil price would hit a six-year low

According to Ramli Abdullah, director of MPOB department of economic and industrial development, this year crude palm oil forward price might depreciate, which might reach the lowest level since Feb, 2009. And crude palm oil forward price would keep floating because of nondeterminacy of global economic trend.
He predicted that Malaysia crude palm oil would float between 1820 ringgit/ton (504USD) to 2750 rinngit/ton, lower than latter prediction, 2300 rinngit to 2500 rinngit.
Ramli claimed that Malaysia palm oil production would increase to 20,090,000 tonnes, lower than latter prediction 20,500,000 tonnes.
In 2014, Malaysia palm oil production is 19,670,000 tonnes. However, at the begining of 2015, palm oil production is affected by flood disaster.
Palm oil export might increase 25,770,000 tonnes from 25,020,000 tonnes laste year.
palm oil production machine
Six years crude palm oil price

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