Breaking News-RTRS-BRIEF-Palm oil prices to average 3,000 rgt/t in 2010-Stanchart

KUALA LUMPUR, Nov 24 (Reuters) - Standard Chartered said Malaysian crude palm oil prices (CPO) will recover from second quarter in 2010 and average 3,000 ringgit ($889.4) per tonne in 2010 from 2,202 ringgit a tonne this year.
Standard Chartered's forecasts issued on Tuesday assume limited downside for the vegetable oil on the back of higher oil prices, as CPO has re-established its correlation with energy prices.
This relationship is expected to provide solid support for palm oil for the rest of 2009 and into 2010.