CPO prices expected to remain at elevated levels in Q1 2021
Wet weather cited as driver for recent rally; analysts see correction beyond current quarter as supply crunch eases
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Singapore
FOLLOWING a rally that saw crude palm oil (CPO) prices hitting their highest level since 2011, analysts are more cautious on the outlook for the sector. They are, however, expecting CPO prices to remain at elevated levels in the first quarter of 2021.
On Jan 6, CPO futures hit a high of RM3,733 (S$1,229) per tonne. They have since given up some of those gains, and were trading at RM3,388 on Jan 27.
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