PETALING JAYA: Despite the threat of a recession in major economies next year, crude palm oil (CPO) prices are expected to remain supported in the quarters ahead backed by factors like market access of rival edible oils from the Russia-Ukraine war region, Indonesia’s export policies as well as issues like fertiliser availability, labour shortages, and weather uncertainty.
Malaysian Palm Oil Association (MPOA) chief executive Joseph Tek Choon Yee told StarBiz the flare-up in the Ukraine-Russia conflict and bad weather will drive demand for CPO and support prices.
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