A STEADY uptrend in crude palm oil (CPO) prices from last month has lifted sentiment on plantation stocks. Also, there are hopes that palm oil-based biodiesel – new demand in the making – will support CPO prices at a high level in the future.
Spot CPO prices touched RM1,480 a tonne yesterday after a sustained rise from RM1,340 early last month. Current prices offer optimism that if they hold, plantation companies will be able to post strong earnings in the fourth quarter.
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