KUALA LUMPUR: BMI, a Fitch Solutions company, has revised upward its forecast for the average price of Bursa Malaysia-listed third-month crude palm oil (CPO) futures contracts in 2024 to RM3,850 per tonne from RM3,750 per tonne, reflecting a 2.7% increase.
However, it said CPO prices would face bearish headwinds into 2025 with the expected average price of RM3,700 a tonne up to end-2024, as the prices have not dropped throughout the second half of 2024 as projected.
