KUALA LUMPUR, Oct 4 — The price of crude palm oil is expected to stay at current levels until the early second quarter of 2022, said analysts.
“For the full year forecast, we expect CPO to range between RM3,500 per tonne and RM3,800 per tonne for 2022,” she said in a panel discussion on the Palm Oil Market Outlook In East Malaysia And China at East Malaysia Crude Palm Oil Futures Virtual Ceremony Launch 2021 today. The high price was attributed to the concerns over weak production, which has continued to lift sentiment.
CPO producers face several key challenges in maintaining the commodity’s price in the coming year, she said. Reversing the declining CPO yields could be the main challenge for producers due to labour shortage, adverse weather, ageing estates, diseases, as well as the adverse impact of climate change such as La Nina.
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