Having suffered a bleak year, Malaysian Palm Oil Board (MPOB) expects a turnaround in the palm oil industry in 2019 with the average price of crude palm oil (CPO) recovering to a level above RM2,500 a tonne.
MPOB chairman Tan Sri Mohd Bakke Salleh, when delivering his opening speech at the annual Palm Oil Economic Review and Outlook Seminar here today, said CPO production is also expected to improve to over 20 million tonnes this year, compared to 19.5 million tonnes in 2018.
China is making massive investments in its liquid natural gas (LNG) import capacity as demand for the cleaner-burning fuel accelerates. American exporters, flush with gas supplies, are waiting to cash in. But that isn't likely so long as the U.S. - China trade war rages on.