Palm oil prices likely to get a boost


Inventories fall: Malaysia May stockpile hit a 62-month low at 1.65 million tonnes, driven by low fresh fruit bunch yields on lagged effect of drought.

PETALING JAYA: Falling crude palm oil (CPO) stockpile in the country, which hit a five-year low in May, will boost prices of the commodity in the short term, but analysts say the impact on planters’ earnings will be harder to predict given the recent weak production numbers.

“It is still premature to expect a steep recovery in second quarter 2016 earnings versus full-year forecasts due to low second quarter 2016 output,” Maybank Kim Eng said in a report yesterday.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Business , cpo , palm oil , oil palm , commodities , stocks , shares , cpo , market ,

   

Next In Business News

Oil holds at 2-week high as Russia, Iran tensions support prices
Foreign funds record RM165.3mil weekly net sale of Malaysian equities
FBM KLCI rises as reporting period in full swing
Ringgit opens higher against greenback as DXY retreats
Trading ideas: SkyWorld, Icon, Top Glove, Chin Hin, PIC, Solarvest, Lagenda, MNRB, Affin, Allianz
Google, Microsoft hail country’s AI approach
Step back and watch
Bull waits for liquidity to return
CPO futures set to trade with bullish bias this week
Sarawak targets more floating solar for its hydroelectric dams

Others Also Read