CPO production likely to increase

LMC International chairman Dr James Fry has pegged CPO price to average at RM3,760 per tonne in 2023 and CPO futures will be RM3,350 per tonne by year-end, pulled down by gas oil prices.

PETALING JAYA: Palm oil industry experts generally expects crude palm oil (CPO) production will increase while the average CPO price could soften further this year.

This is the consensus at the recently concluded 34th Palm and Lauric Oils Price Outlook Conference and Exhibition (POC2023) organised by Bursa Malaysia here, which was well attended by some 2,000 delegates and speakers worldwide.