Key factors driving CPO prices up

Analysts expect stiff competition from the largest palm oil producer, Indonesia, to continue, adding that high palm oil stock levels in importing countries could impact Malaysia’s exports of CPO. — Reuters

PETALING JAYA: Crude palm oil (CPO) stocks which rose 3% month-on-month to 2.27 million tonnes at end-January, may get some respite in the near-term due to key factors that will drive up the commodity’s price.

However, analysts expect stiff competition from the largest palm oil producer, Indonesia, to continue, adding that high palm oil stock levels in importing countries could impact Malaysia’s exports of CPO, moving forward.