KUALA LUMPUR, Dec 19 Labour shortage was the biggest hurdle faced by the palm oil industry this year, with losses for the country running into billions of ringgit, but the global economic reopening has resulted in pent-up demand for the versatile oil. Palm oil and rubber are.
MIDF Research has maintained a ‘Positive’ stance on the plantation sector with a target price for Crude Palm Oil (CPO) of RM3,300 per tonne in calendar year 2022 (CY22).
In a research note, it said for November 2021, the average CPO spot price increased 4.7 per cent month-on-month (m-o-m) to RM5,331.60 per tonne from RM5,094.42 per tonne in the previous month.
On year-on-year (y-o-y) basis, the average CPO spot price jumped 55.0 per cent from RM3,440.83 per tonne in November 2020. The CPO price hit the highest on Nov 19, 2021 at RM5,444.00 per tonne
Foreign shareholding of large-cap companies in the sector has declined over the past three to five years due to environmental, social and governance concerns
WHILE crude palm oil (CPO) prices hit a record high on Wednesday, with three-month futures prices closing at RM5,015 per tonne, market analysts still expect CPO prices and plantation earnings to decline in 2022.