Price of CPO likely to trend lower

ICGS-CIMB Research head of research Ivy Ng said concerns of potential demand destruction led by high CPO prices and substantial progress in peace talks between Russia and Ukraine are weighing down on CPO futures.

KUALA LUMPUR: Palm oil prices, which hit a high of more than RM8,000 per tonne recently, have edged lower over concerns of demand destruction as well as a possible end to the Russia-Ukraine war.

Crude palm oil (CPO) futures for May 2022 delivery decline by almost 7% to RM6,245 per tonne at yesterday’s close.