CGS-CIMB Research sees CPO trading RM2,500 to RM2,800

KUALA LUMPUR: CGS-CIMB Equities Research expects crude palm oil (CPO) prices to trade in the range of RM2,500 to RM2,800 per tonne in February and at an average of RM2,300 per tonne for 2020.

It said on Tuesday the expectation that CPO supply is likely to stay low in 1Q due to low fertiliser input a year back and falling stocks are likely to be supportive of CPO price.