Higher biodiesel usage is an important factor behind improving CPO prices in 2016, as CPO is the main raw material for biodiesel.
PETALING JAYA: Bullish crude palm oil (CPO) prices have driven plantation shares upwards in the past four months and many planters are expected to post good earnings in their soon-to-be released 2016 fourth quarter (Q4) results and the first quarter results of 2017.
Analysts said CPO prices will continue to trade higher at between RM2,800 and RM3,300 per tonne in the first half of this year, given the current tight palm oil inventory at 1.54 million tonnes.
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