“Going forward, CPO prices should remain in a similar price range for 2023. While upside risks for CPO prices have moderated in the last few weeks, there are still supportive factors for the commodity that should keep prices relatively stable,” says Hoe.
Crude palm oil (CPO) prices should stay relatively range bound in 2023 as supply improvements will be relatively balanced with a rise in demand, says RHB Group Research analyst Hoe Lee Leng.
Currently, CPO prices are within the RM3,500-RM4,500 per tonne range. With YTD prices at RM5,218 per tonne, RHB expects average prices for 2022 to come in close to its RM5,100 per tonne assumption.
