PETALING JAYA: Crude palm oil (CPO) price is expected to trade in the RM2,500 to RM2,900 per tonne range this month, as palm oil supplies are expected to get tighter due to weaker-than-expected supply, while demand picks up ahead of Ramadan, according to CIMB Research.
“CPO prices rose to a high of RM2,716 per tonne on Apr 5 due to concerns over weaker-than-expected palm oil supplies and smaller-than-expected soybean crops from Argentina as farmers were hit with the worst flood situation in the soybean belt in more than 30 years.