Due to pandemic fears, the CPO prices plunged in the first four months, but the prices bounced back strongly soon after that.
KUALA LUMPUR (Dec 25): Crude palm oil (CPO) prices have been on a steady climb since early May, and the edible oil is poised to post the highest year-end closing in 25 years, if not longer.
According to Bloomberg, generic three-month palm oil futures (expiring on Dec 31) are currently trading RM48 higher at RM3,854 a tonne, a 25-year high.
In contrast, the same contract stood at RM3,041 at the end of 2019, and RM2,004 at the end of 2018. And the current price level is a far cry from the RM732 registered at the end of 2000.