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THE price of crude palm oil (CPO) is expected to narrow down by 10% to 15% from its current average price of RM1,300 per tonne later this year, as dampening factors like surplus in the supply of vegetable oils and oils in unprocessed seeds slowly creep in.
THIS year is going to be a bumper crop year for many plantation companies. However, their earnings growth in the next financial year is likely to be weaker due to expectations of softening crude palm oil (CPO) prices.
HIGHER palm oil prices and larger production volumes again buoyed the bottom line of Kuala Lumpur Kepong Bhd (KLK), which released its 3rd quarter results to June 30 yesterday. Its net profit for the quarter increased by more than a third to RM85.5mil from RM61.8mil in the same period last year.
IOI CORP Bhd has turned in another record-setting financial performance for its financial year ended June 30, with pre-tax profit hitting RM812.63mil on revenue of close to RM4bil.