CPO prices to fall to RM5,300 per tonne on average in 2H22

KUALA LUMPUR: Crude palm oil (CPO) prices are expected to average RM5,300 per tonne in the second half (H2) of 2022, lower than in the first half due to expectations of higher global vegetable oil supply, higher CPO production especially in the third quarter, as well as lower palm oil exports, says the Malaysian Palm Oil Board (MPOB).

The agency said Indonesia’s decision to ease its export rules to encourage shipments and to reduce its high palm oil inventories will give tough competition to the palm oil industry here.