Uptrend: A worker is seen harvesting fresh fruit bunches in a plantation in the peninsula. CPO production is set to increase as the industry enters the high production cycle.
Sharing his outlook on global vegetable oils at a recent webinar hosted by UOB Kay Hian , Mistry remained bullish on the prices of vegetable oils, moving forward. The downside could be mitigated “if Malaysia’s production fails to recover due to the severe labour shortage, ” added Mistry. He said that the recent CPO price weakness was mainly driven by an anticipated increase in palm oil production, potentially weak palm oil exports this month and market talk on the US biodiesel mandate changes.
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