PETALING JAYA: MIDF Research released a report on Wednesday maintaining a positive call for crude palm oil (CPO) prices at an average RM2,700 per tonne this year despite recent price weakness.
CPO price for August delivery fell to RM2,395 per tonne yesterday on lower market sentiments after local inventories likely breached 2 million tonnes by year-end. CPO third-month futures reached a high of RM2,901 per tonne on March 10 but fell nearly 18% to RM2,387 on June 3.
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