CPO price to trade range-bound in near term

“We think CPO prices would still remain supported until year-end on the back of demand, recovery and potentially weaker-than-expected production, due to current high crops losses in Indonesia and Malaysia,” UOB Kay Hian Research said

KUALA LUMPUR: The price of crude palm oil (CPO) could trade in a range-bound level after a steep correction from a peak in June, research house UOB Kay Hian Research’s (UOBKH) says.

The plantation sector, it adds. also lacks catalysts, with the CPO price anticipated to remain soft in the near-term, following the resumption of exports by Indonesia.