CPO prices to rebound in 4Q due to La Nina, says Kenanga Research

Malaysian palm oil futures rose for a second session in four on Friday as better performing rival soy oil gave the market a late boost even though a stronger ringgit MYR= weighed on prices earlier in the day.

KUALA LUMPUR :Kenanga Research has maintained its forecasted crude palm oil (CPO) average price of RM2,400 per metric tonnes (mt) with a rebound in prices expected later this year due to the La Nina phenomenon.