Palm oil prices will be higher this year as El Nino is set to hit output: Golden Agri

Singapore

PALM oil prices will be higher this year compared to the last, as the impact of a very severe El Nino last year cuts industry production by about 5-10 per cent, according to Golden Agri-Resources, the second-largest palm oil planter in the world by acreage.

This could provide a partial reprieve for palm oil producers who have seen earnings fall in line with crude palm oil (CPO) prices in 2015.