FGV expects CPO price to trade at RM1,900-RM2,100 a tonne in 2019

KUALA LUMPUR: FGV Holdings Bhd has forecasted the crude palm oil (CPO) price to trade between RM1,900 and RM2,100 per tonne in 2019.

“The high CPO stock pile would put pressure on the price,” said chairman and interim CEO Datuk Wira Azhar Abdul Hamid at FGV’s third quarter result briefing on Wednesday.

He revealed that FGV’s average production cost ex-mill in the third quarter stood at RM1,777 per tonne.

He said FGV is targeting to increase it CPO production by 10% next year.