Kretam plans to boost yields in the coming quarters

PETALING JAYA: The lower average crude palm oil prices of RM3,700 per tonne forecast for this year are likely to affect Kretam Holdings Bhd’s earnings for financial year 2023 (FY23) and FY24.

Kretam, however, should enjoy slightly better pricing power as about half of its palm oil is sold at premium prices to its European buyers as its acreage are Roundtable on Sustainable Palm Oil, Malaysian Sustainable Palm Oil and German-backed ISCC certified, according to Kenanga Research.