CPO price likely to stay firm on supply risk issue

“There are several issues namely the severe shortage of foreign workers, ageing trees due to slow replanting, slower new planting rates, restricted movement issues affecting some estates and mills due to the rising Covid-19 cases and lower fertiliser input as a result of logistics issues,” said CGS-CIMB Research.

PETALING JAYA: The looming supply risk factors will likely see crude palm oil (CPO) price stay firm at the RM3,500 to RM4,000 per tonne range this month.

According to CGS-CIMB Research, it will take time to rebuild inventory and solve the worker shortage issue.