CPO expected to trade at RM2,200-RM2,450

CPO price has slumped by almost 26% year-to-date with the benchmark CPO futures contract trading at RM2,247 per tonne currently.

PETALING JAYA: Analysts expect crude palm oil (CPO) prices to average between RM2,200 and RM2,450 per tonne this year as supply will likely exceed demand given the Covid-19 led disruptions affecting major export markets.

CPO price has slumped by almost 26% year-to-date with the benchmark CPO futures contract trading at RM2,247 per tonne currently.