CGS-CIMB Research sees CPO trading RM2,900 to RM3,200

“Our top picks in Malaysia are Genting Plantations, Hap Seng Plantations and KL Kepong and regional picks are Wilmar and First Resources, ” it said.

KUALA LUMPUR: CGS-CIMB Equities Research expects crude palm oil (CPO) prices to trade in the range of RM2,900 to RM3,200 per tonne in Jan 2020F and average RM2,300 per tonne for 2020F.

In its research note, it said the sharper-than-expected decline in CPO output in December coupled with expectation that CPO supply is likely to stay low in 1Q due to seasonal factor are likely to be supportive of CPO price.