The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives trended sideways to end mostly flat on Thursday due to muted demand, a dealer said. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said, however, the CPO futures were affected by several factors including India's cancellation of duty free import for soybean oil.
THE historic spot crude palm oil (CPO) price at RM6,873 per tonne and CPO futures price at RM8,000 per tonne recorded in March 2022 will not likely be repeated this year, say industry experts.
International, MNA | Malaysian Palm Oil Board (MPOB) has on Friday projected the crude palm oil (CPO) prices to average at 5,100 ringgit (1,157 U.S. dollars) per tonne this year.
It is unlikely that plantation companies will continue to post double-digit profit growths in 2023, according to analysts, due to lower crude palm oil (CPO) prices, higher energy costs, and costlier raw material.