Weather key to near-term price recovery for CPO

PETALING JAYA: The weather developments from July to August are key to near-term fresh price recovery for crude palm oil (CPO) prices, says Maybank Investment Bank (Maybank IB) Research.

While the good-to-excellent conditions for soybean have deteriorated rapidly throughout June, ite said there is still potential for the situation to improve, as July and August are crucial pod-setting periods, which will determine the final soybean yields before harvesting starts from September to October.