CPO prices to stay high in short term

RHB Research, which maintained a “neutral” call on the plantation sector, said its CPO price assumptions of RM4,300 per tonne for 2022 and RM3,600 per tonne for 2023 will likely need to be revised further.“This is given the factors we have seen affecting prices such as the Russia-Ukraine war and changes in regulations. We prefer to revise this at a later stage, once prices are less volatile,” it added.

PETALING JAYA: Industry experts are mixed on the average crude palm oil (CPO) price forecasts for this year, given the fundamentals that led to the perfect storm for the current price rally and the uncertainties over the Russia-Ukraine conflict.

This is based on RHB Research’s latest review of the three-day Palm & Lauric Oils Price Outlook Conference and Exhibition (POC 2022) organised by Bursa Malaysia, which ended on Wednesday.