Crude palm oil C-P-O prices, expects to stabilise
Wan Nor Azura Bt Mior Abdul Aziz
Assingment on 25/2/2009

Crude palm oil C-P-O prices, expected to stabilise between 1,800 and  1,900 ringgit per tonne, are still at manageable levels to support export earnings this year.
 
Despite the global recession, Minister of Plantation Industries and Commodities Datuk Peter Chin Fah Kui said, the palm oil industry would be able to provide the country with the export earnings that it needed.

"From 1,400, because of our efforts, its now gone up to 1800 - 1900 what ever is this price at the particular moment of time even its stable and our cost is control properly so there will always be a profit margin for our producers", he said.

In 2008, palm oil contributed 65.2 billion ringgit in export earnings, which marked another significant and record year of contribution from the industry.
 
Chin said the contribution of Malaysian palm oil to the world's oils and fats market was also very significant.
 
Palm oil accounted for 11.1 percent or  17.73 million tonnes of the total 160 million tonnes of oils and fats produced globally in 2008.
 
And Malaysia would need higher income from overseas sale of palm oil as it attempted to avoid a recession, Chin told reporters at the Programme for Rebuilding and Improving Malaysia's Exports  (PRIME) 2009 at Bukit Kiara on Thursday.
 
In his speech, Chin described PRIME as a platform to promote market expansion and ensure continuous improvement of Malaysian palm oil exports.
  
PRIME is one of Malaysia Palm Oil Council (MPOC)'s export promotion strategies to encourage exporters to penetrate new markets and introduce innovative product lines to develop new areas of business.
 
(ENDS)