Lower CPO output in 2024 likely to lift price sentiment


HLIB Research changed its 2023 CPO price assumptions to RM3,850 per tonne due to weak CPO price sentiment recently.

PETALING JAYA: The high palm oil stockpile in major palm producing countries that will likely peak soon, favourable palm oil–gas oil (Pogo) spread and lagged impact of El Nino on palm production, are expected to support crude palm oil (CPO) price from 2024 onwards.

Hong Leong Investment Bank (HLIB) Research said CPO price has been trending down recently, bringing year-to-date average to RM3,866 per tonne.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Matrix Concepts completes fourth round of food aid programme
Stocks wobble, dollar tips as Trump-Fed feud deepens
AIBIM appoints Rafe Haneef as president
Foreign investors turn net buyers with RM42.5mil equities inflow last week
Trading in Sunway, IJM shares suspended pending anouncement
FBM KLCI maintains rally as risk appetite improves
Trading ideas: Capital A, Iconic, UEM, MMAG, Meta Bright, KKB, Global Oriental, Reneuco, ITMAX, Insights Analytics
Ringgit opens marginally lower as US policy repricing lifts DXY
JPMorgan poised to profit from Maduro arrest
Malaysia can rest easy for now

Others Also Read