CPO prices poised for correction in H2

Plantation analysts said CPO prices for 2021 and 2022 are expected to be traded higher of between RM2,700 and RM3,200 per tonne compared with the low of RM2,022 per tonne in 2020.

PETALING JAYA: The current bull run in the crude palm oil (CPO) spot prices, which soared 134% to the historic level of RM4,761 per tonne is not sustainable and is poised for a correction by the second half of the year, say plantation analysts.

However, they said CPO prices for 2021 and 2022 are expected to be traded higher of between RM2,700 and RM3,200 per tonne compared with the low of RM2,022 per tonne in 2020.