PETALING JAYA: A prolonged tightness in the palm oil supply is expected to push the price of the commodity higher, which is a short-term positive for local planters.
According to CGS-CIMB Research, factors such as the recent crude palm oil (CPO) export ruling in Indonesia, drought in South America, delays in foreign worker intake in Malaysia and the low production season in the first quarter of 2022 have led to a tight supply situation.
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