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Regional palm oil plays struggle under cost pressures, price normalisation

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Uma Devi

Uma Devi

Published Thu, Aug 31, 2023 · 05:00 AM
    • Fitch Solutions unit BMI notes that the year-to-date average for crude palm oil prices stands at RM3,805.20 per tonne, versus last year’s average of RM4,910. 
    • Fitch Solutions unit BMI notes that the year-to-date average for crude palm oil prices stands at RM3,805.20 per tonne, versus last year’s average of RM4,910.  PHOTO: BLOOMBERG

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    IT HAS been annus horribilis for palm oil companies across South-east Asia, with nearly all of them reporting declines in revenues and earnings for the latest financial period.

    This came on the back of a normalisation in crude palm oil (CPO) prices, as well as margin pressures due to higher costs and lower average selling prices (ASPs). 

    A recent report from Fitch Solutions unit BMI noted that the year-to-date average for CPO prices stands at RM3,805.20 (S$1,110.33) per tonne, versus last year’s average of RM4,910. 

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