Challenging year for palm oil industry

From left: Daniel Ebinesan, Group Finance Director, Boustead Holdings Bhd, Gen (R) Tan Sri Mohd Ghazali Che Mat, Chairman, Tan Sri Lodin Wok Kamaruddin, Vice Chairman, Boustead Plantations Bhd, Fahmy Ismail, CEO, Boustead Plantations Bhd. after the company's AGM

PETALING JAYA: Boustead Plantations Bhd sees a “challenging” year ahead for the palm oil industry and that crude palm oil (CPO) prices could decline further in the second half of the year.

Vice-chairman Tan Sri Lodin Wok Kamaruddin said the price was hovering around RM2,200 per tonne now.