Crude palm oil prices likely to have hit rock bottom

Re-rating catalyst: The correction over the last one year could have factored in the lacklustre CPO price outlook, given the increase in FFB production this year. — Reuters

PETALING JAYA: Crude palm oil (CPO) prices may have hit the bottom, as the commodity has been trending between the RM2,350 and RM2,550 per tonne range in the past six months, say analysts.

According to UOB Kay Hian Securities, the correction over the last one year could have factored in the lacklustre CPO price outlook, given the increase in fresh fruit bunch (FFB) production this year.