Price boost for palm oil

CGS-CIMB Research head Ivy Ng (pic) is expecting CPO prices to average at about RM2,500 per tonne this year, which is the highest since 2017 as demand is expected to increase and supply to remain under pressure due to labour issues and dry weather.

PETALING JAYA: Crude palm oil (CPO) prices are expected to increase on the back of demand recovery from India and China as well as a decline in supply due to a labour shortage.

CGS-CIMB Research head Ivy Ng is expecting CPO prices to average at about RM2,500 per tonne this year, which is the highest since 2017 as demand is expected to increase and supply to remain under pressure due to labour issues and dry weather.