Genting Plantations expects high demand to support CPO prices

Genting Plantations said its prospects for 2023 will depend on palm products prices and its fresh fruit bunches (FFB) production.

KUALA LUMPUR: Crude palm oil (CPO) prices in the short term are expected to remain supported by increased demand due to the widening discount against other edible oils and Indonesia’s higher biodiesel mandate, according to Genting Plantations Bhd.

In a filing with Bursa Malaysia yesterday, the plantation group also noted that incremental supply is expected to decline in line with the slower expansion of new plantings in recent years.