PETALING JAYA: Crude palm oil (CPO) is expected to regain its pricing competitiveness in the second half of 2024 (2H24) given tighter supplies and gradual return in demand resulting in higher prices.
This would be supported by lower production due to unfavourable weather conditions in 2H23 and 1Q24, along with recovering demand, as palm oil inventories in major importing countries like India and China had been trending downwards.
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