KUALA LUMPUR, Jan 4 ― Malaysia’s crude palm oil spot price averaged at RM5,171 in fourth quarter of 2021 , an increase of 53 per cent year-on-year or an improvement of 17 per cent quarter-on-quarter , said an analyst.
“Presently, the FCPO is in a steep backwardation with 12 months FCFO at more than RM1,000 per tonne discount to 1M FCPO of RM5,159 per tonne ― as at Dec 31, 2021,” he said. “While 1M FCPO is near parity to 1M soybean oil, 6M-13M CPO prices are priced at attractive discounts of more than US$200 per tonne.
Parts of Selangor, Pahang, Melaka, Negri Sembilan, Johor, Terengganu, Kelantan, and Sabah were affected and estate operations were disrupted for several days in the affected areas, he added.“However, the sector is still not out of the woods as the current rainy season is forecast to last till March 2022 ― any subsequent wave of floods or any prolonged floods could severely damage the infrastructures and further disrupt operations,” he said.
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