KUALA LUMPUR: Malaysia’s crude palm oil (CPO) is expected to trade between RM4,000 and RM4,200 per tonne next year, down from RM4,900 per tonne record...
: Malaysia’s crude palm oil is expected to trade between RM4,000 and RM4,200 per tonne next year, down from RM4,900 per tonne recorded in 2022, impacted by weather developments, geopolitical risks, government policies and slower global economic growth, said industry experts.
Themed “Navigating Uncertainties, Building Resilience”, it reflects the industry’s concerted efforts to address global challenges and strive for greater heights. CIMB Investment Bank’s Ivy Ng, who heads both Malaysia and agribusiness research, has forecast CPO to trade at RM4,100 next year driven by flattish global oil palm supply, with Malaysia producing 18.2 million tonnes and Indonesia 48 million tonnes.
Meanwhile, Sathia said demand for biodiesel is expected to rise on the back of Indonesia’s implementation of B35 and high crude oil prices.
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