MPOB: CPO price to average at RM3,800 a tonne in 2022 on improved production

PUTRAJAYA: The crude palm oil (CPO) price is expected to average at RM3,800 per tonne in 2022 on improved palm oil production, in line with the performance of other major vegetable oils prices amid the recovery in production and stock, the Malaysian Palm Oil Board (MPOB) said.

Director-general Datuk Dr Ahmad Parveez Ghulam Kadir said CPO production is expected to improve 4.9 per cent this year to 19 million tonnes from 18.12 million tonnes recorded in 2021, while stocks are projected to pick up 23.4 per cent to 1.95 million tonnes versus 1.58 million tonnes last year.