Lang
Jakarta, 6 December - The Council of Palm Oil Producing Countries (CPOPC) expects palm oil prices to range between 4,000 and 5,000 ringgit per tonne in 2025, driven by production slowdowns in key markets, particularly Indonesia and Malaysia.
CPOPC Deputy Secretary-General Datuk Najib Wahab said on Friday: "With global demand for palm oil rising, production slowdowns are likely to create supply shortages, pushing prices higher."
He noted that current price levels, hovering around 5,000 ringgit per tonne, could be temporary, largely the result of ongoing flooding in Malaysia, which has boosted positive market sentiment.
Najib added that the production slowdown, compounded by ageing plantations, unpredictable weather conditions and limited expansion into new planting areas, is expected to put further pressure on global supplies, driving prices even higher.
On CPOPC membership, Najib revealed that the council currently comprises Malaysia, Indonesia, Honduras and Papua New Guinea as full members, alongside Colombia, Ghana, Nigeria and the Democratic Republic of Congo as observer members.
He explained that efforts are under way to bring Thailand, the world's third-largest palm oil producer, into the council, noting that if successful, member states would control between 93 and 95 percent of global palm oil production, significantly strengthening their influence in the market.
"At that point, we would have a stronger voice," Najib added.
CPOPC is an intergovernmental organisation established on 21 November 2015, dedicated to promoting cooperation among palm oil producing countries.