Palm oil industry leaders warned on Tuesday of depressed prices this year as the coronavirus pandemic slashes global demand and boosts inventories, with the biggest producer warning of painful cost cuts.

"A full recovery may only happen in Q4 of 2021... Things may get worst before it gets better," Sime Darby Oils managing director Mohd Haris Mohd Arshad said during a webinar with the Malaysian Palm Oil Council (MPOC)....