THE historic spot crude palm oil (CPO) price at RM6,873 per tonne and CPO futures price at RM8,000 per tonne recorded in March 2022 will not likely be repeated this year, say industry experts.
Given the supply availability of other competing vegetable oils including soybean oil (SBO) and the appreciating ringgit, they opine that CPO is expected to post a lower average of around RM3,800 to RM4,000 per tonne in 2023 compared with RM5,100 per tonne in 2022.
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