Fitch expects the price of CPO to weaken to around US$750 per tonne in the final quarter of 2023.
PETALING JAYA: Crude palm oil (CPO) price is poised to recover as it moves into a low crop cycle and with its fluctuations tied to the severity of the El-Nino on production levels, says an industry expert.
Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said a severe El-Nino will most likely reduce yields, depress production and raise the prospect of higher average CPO prices in 2024 compared to 2023.
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