Moody’s sees CPO trading up to RM2,600 over next 12 months

CPO prices have risen considerably this year amid supply constraints.

KUALA LUMPUR: Moody’s Investors Service has raised its forecast for crude palm oil (CPO) prices to range between RM2,200 and RM2,600 per tonne, with a midpoint of RM2,400 due to tighter supply over the coming 12 months.

It said on Friday the higher forecast was based on its higher medium-term price sensitivity range for CPO which is around 14% higher than the RM2,100 midpoint of its previous price range of RM1,900 to RM2,300.