Little upside to CPO price

Neutral call: Analysts expect CPO to stay supported above RM2,100 per tonne if crude oil stabilised around US60-US70 per tonne.

PETALING JAYA: The opposite pull of higher production and better export outlook in the coming months is expected to limit the price upside of crude palm oil (CPO) in the second half of this year, said analysts.

They expected CPO to likely stay supported above RM2,100 per tonne if crude oil stabilised around US$60-US$70 per tonne. Currently, CPO is trading between RM2,200 and RM2,250 per tonne range.