KUALA LUMPUR: The chief executive of Felda Global Ventures Berhad, the world’s third largest palm plantations operator, Zakaria Arshad said on Monday that he expected the company’s crude palm oil yields to drop by 17 percent this year.
“Lower yields are due to the El Nino effect,” the newly-appointed chief executive said at a media briefing.
Zakaria said crude palm oil prices are seen at 2,600 ringgit ($644.50) to 2,800 ringgit per tonne by August this year. They stood around 2,566 ringgit on Monday.
– Reuters
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