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发表于 30-10-2008 01:41 PM
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By lowering the stock, the Associated Chinese Chambersof Commerce and Industry of Malaysia hopes prices can stabilise atRM2,000 a tonne at the least, says its president
THE Associated Chinese Chambers of Commerce and Industry of Malaysia(ACCCIM) has asked major crude palm oil producers (CPO) Indonesia,Malaysia and Thailand to reduce their stock by one million to 1.5million tonnes to stabilise prices in the global market.
"At the current price, we are running at cost. We are not makingprofits," ACCCIM president Tan Sri William Cheng said on the sidelinesof a seminar, themed "Is Oil Palm Still The Glittering Star?", in KualaLumpur yesterday.
CPO prices are currently hovering at RM1,450a tonne, down from the highest price of more than RM4,000 a tonne earlythis year.
 The cost of production is about RM1,300 a tonne.
Cheng said that Indonesia, Malaysia and Thailand have a combined CPO stock of about 6.5 million tonnes.
"By lowering the stock, I hope prices can stabilise at RM2,000 a tonne at the least," he said.
ACCCIM said the CPO stock available could be used for biodiesel production.
Cheng, nevertheless, sees the slide in CPO prices as "temporary", and believes the industry still has a bright future.
"Malaysia's cost of production is the world's lowest. If we sell at cost, others will suffer the loss," he said. - Bernama |
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