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Among the speakers, Godrej International director Dorab Mistry forecast the CPO prices to decline from RM3,800 per tonne in April 2022 to RM3,200 per tonne in September 2022.

The palm oil business can no longer ignore the call to embrace sustainability more thoroughly. As the consequences of the climate crisis grow, businesses worldwide are investing in climate mitigation measures.

Malaysian crude palm oil prices, which have hovered near last month’s record highs, will stay firm until February, but start to ease from March, on rising output in the top two producer nations, leading industry analyst Dorab Mistry said.

Chaturvedi also said that the rise in edible oil prices in the country was reflective of international value, adding that a dip in edible oil prices was expected to be gradual and not drastic in the coming time due to an estimated increase in global production.

Edible oil prices could ease in the next to six to 12 months on improving supplies and benchmark palm prices could moderate from near record levels to average slightly below 4,000 ringgit ($956.60) per tonne in 2022, a top industry analyst said.

This includes the adoption of technology by and modernisation of different sectors, as well as the strengthening of international trade, which includes the ratification of new free trade agreements (FTAs), such as the Regional Comprehensive Economic Partnership (RCEP).

Argentina's government said on Wednesday it would appeal a ruling by the U.S. Court of International Trade to deny its challenge over high duties on imports of biodiesel from the South American country, one of the world's top producers.

Announcing a reduction in the prices of various essential food items, Federal Minister for Finance and Revenue Shaukat Tarin said on Wednesday that despite the highest increase of inflation in a decade worldwide, inflation has declined in the country, owing to balanced policies of the government.

CBOT December wheat may test a resistance at $7.10-1/2 per bushel, a break above which could lead to a gain into $7.16-1/4 to $7.25-3/4 range.

Palm oil may bounce moderately into a range of 4,227-4,275 ringgit per tonne, before resuming its fall.

Malaysian palm oil futures climbed nearly 3% on Wednesday, extending gains for a second consecutive session, led by signs of slowing production and a recovery in rival soyoil prices.

The Philippines should quickly ratify the Regional Comprehensive Economic Cooperation (RCEP) free trade agreement as it may lose out on massive economic benefits from the deal, several experts said on Wednesday.