United Malacca to ride on stable CPO prices

PETALING JAYA: Better palm oil harvests and rising global biofuel demand are expected to keep crude palm oil (CPO) prices stable in the medium term, which bodes well for United Malacca Bhd (UMB), say analysts.

Kenanga Research said CPO price has been trading sideways after a correction in mid-2022 and a fragile recovery will likely take place beyond this year and into 2024.