Upside potential likely for price of CPO

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KUALA LUMPUR: The price of crude palm oil (CPO) is expected to remain firm at RM3,500 to RM4,500 per tonne this month amid tight global oil inventories.

CGS-CIMB Research, in its latest agribusiness report, pegged the average CPO price at RM3,700 per tonne this year, but there remain an upside potential as “the CPO price has averaged at RM4,150 per tonne in the first eight months of this year.”