Breaking News-RTRS-Malaysia sees palm prices around 1,500 rgt -paper

KUALA LUMPUR, Jan 3 (Reuters) - Crude palm oil prices have hit bottom and are likely to trade at 1,500-1,600 ringgit ($432.9-$461.8) a tonne in the next six months, a Malaysian newspaper has quoted a minister as saying.
"Personally, I would like to see the CPO (crude palm oil) price stabilising at 2,000 to 2,600 ringgit per tonne," the Star newspaper quoted Malaysia's commodities minister, Peter Chin, as saying.
"I think over the next six months, CPO prices will trade at 1,500 to 1,600 per tonne," he added.
"This is taking into account the measures implemented by Malaysia, including cutting down oil palm trees which are above 25 years old and implementation of the biofuel programme."