CPO to sustain uptrend trading above RM3,000

HLIB Research anticipated CPO prices to soften from the second quarter on the back of better supply outlook for major edible oils, which in turn could result in a balanced demand-supply dynamics.

PETALING JAYA: Crude palm oil (CPO) is expected to sustain its uptrend to trade above RM3,000 per tonne until the first quarter of next year, says Hong Leong Investment Bank Bhd (HLIB).

Beyond this period, however, HLIB Research anticipated CPO prices to soften from the second quarter on the back of better supply outlook for major edible oils, which in turn could result in a balanced demand-supply dynamics.