The Council of Palm Oil Producing Countries (CPOPC) predicts that palm oil prices could range between RM4,000 and RM5,000 per tonne in 2025, driven by stagnating production in major markets like Indonesia and Malaysia. According to CPOPC deputy secretary-general Datuk Nageeb Wahab, the global demand for palm oil is set to rise, but stagnating production could lead to a supply shortage, which in turn will push prices higher.

Nageeb pointed out that the current price level of around RM5,000 per tonne might be temporary, largely influenced by the ongoing floods in Malaysia, which have strengthened market sentiment. He also noted that production stagnation, exacerbated by ageing plantations, unpredictable weather, and limited expansion into new areas, will further strain global supply, driving prices upwards.

CPOPC currently comprises Malaysia, Indonesia, Honduras, and Papua New Guinea as full members, with Colombia, Ghana, Nigeria, and the Democratic Republic of Congo as observer members. Nageeb revealed that efforts are being made to include Thailand, the world's third-largest palm oil producer. If successful, this would mean that CPOPC member nations would control 93 to 95 per cent of global palm oil production, significantly increasing their influence in the market.

"We will have a stronger voice," Nageeb said.

Established on Nov 21, 2015, CPOPC is an intergovernmental organisation aimed at fostering cooperation among palm oil-producing nations.