PETALING JAYA: Despite the uptrend in the palm oil stockpile, most analysts continue to maintain their crude palm oil (CPO) price assumption between RM3,800 and RM4,000 per tonne for the 2023-2024 period.
Hong Leong Investment Bank (HLIB) Research expects CPO prices to be supported by the arrival of El Nino, and potentially stronger near-term demand arising from India’s more active restocking activities ahead of the Diwali festival in mid-November.
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