KUALA LUMPUR, Jan 7 (Bernama) -- Crude palm oil (CPO) prices are expected to average around RM2,900 per tonne this year supported by strong demand from emerging markets, says Standard Chartered Bank Head of Commodities Research Hsi Han Pin.
"Demand for CPO is expected to increase by 20 per cent over the next two years as we notice persistent growing demand from emerging countries.
"We predict CPO prices will start increasing in the first half of the year and continue to stabilise in the second half.
"It should average around RM2,900 per tonne in 2013," he told Bernama after Standard Chartered's Global Research Briefing 2013.
Hsi said demand would continue to grow as India, a large importer of Malaysian palm oil, had a growing middle-class economy and this would be a key driver for all commodity prices including CPO.
-- BERNAMA
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