CPO price seen to sustain

PETALING JAYA: The crude palm oil (CPO) price will likely sustain at above RM4,000 per tonne over the next few months, supported by near-term supply concerns and price competitiveness.

Hong Leong Investment Bank’s (HLIB) research unit said this in a report, adding that it believed the CPO price will start trending down from the second quarter of 2023 (2Q23), on the back of better supply visibility for vegetable oils, arising from the easing of the labour shortage in Malaysia and the absence of weather anomalies as well as the heightened risk of a global recession.