Malaysian crude palm oil prices to stay above $1,134 in near term, MPOC says

KUALA LUMPUR: Malaysian crude palm oil prices are expected to stay above 4,500 ringgit ($1,134) per metric ton in the near term, supported by stronger biodiesel economics, elevated crude oil prices and potential El Niño weather developments, the Malaysian Palm Oil Council said on Friday. However, prices are likely to be capped by softer export demand amid inflation and weaker economic growth in key importing countries, the council said.

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