Malaysia’s commodities minister says crude palm oil price weakness is temporary

KUALA LUMPUR: The weakness in crude palm oil prices is temporary as demand from top consumer China is expected to pick up after it relaxes its COVID-19 restrictions, Malaysia’s Commodities Minister Zuraida Kamaruddin said on Monday.

Palm oil may drop toward 2,723 ringgit in Q4

Concerns about demand worsening due to an global economic slowdown amid high inflation, rising interest rates and recession fears, are temporary as China can be expected to gradually relax its zero-COVID policy that has hindered palm oil consumption and demand, she said in a statement.