# CPO: Ministry optimistic of price reaching RM2,600 | Borneo Post Online

> Malaysia's Ministry of Plantation Industries and Commodities expects crude palm oil prices to rise to RM2,500-2,600 per tonne by year-end. The minister cited stronger demand from the Middle East, Africa and the Philippines despite Covid-19. The physical price was RM2,860 per tonne, and the country targets RM65-70 billion in 2020 palm oil export earnings.

- Date: 2020-08-04 · published 2020-08-04T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6797-cpo-ministry-optimistic-of-price-reaching-rm2-600-borneo-post-online
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Official confidence in demand supports the price outlook, though the forecast is a government view rather than a market shift. Buyers should watch whether export demand confirms the expected gains.

## Read by commodity

- PALMOIL: bullish ▲

## Sources

- theborneopost.com: https://www.theborneopost.com/2020/08/05/cpo-ministry-optimistic-of-price-reaching-rm2600/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.