“FIVE years ago if you told me that crude palm oil (CPO) prices were capable of hitting these numbers, I would have scoffed at you” says Kevin Lee, who has been trading CPO futures for many years.
Just this week, the price of CPO hit a historic high of RM5,750 per tonne due to supply constraints as well as Malaysia’s production woes brought about by acute labour shortages.CPO prices jumped 64% to average at RM4,407 per tonne amid tight supply of edible oil last year.
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