PETALING JAYA: The price of crude palm oil (CPO) is expected to average RM4,000 per tonne this year, before easing to RM3,800 per tonne in 2025.
The projection by Hong Leong Investment Bank Research (HLIB Research) is premised on the El Nino weather phenomenon’s impact on palm production and prices rising around mid-2024.
The research house maintained a “neutral” stance on the plantation sector, citing the absence of a notable demand catalysts.
In its report yesterday, HLIB Research said most plantation companies shared the view that CPO prices would likely hover around RM3,700-RM4,000 per tonne in 2024.
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