The price of crude palm oil (CPO) is likely to remain firm as the local estates enter into the low-production season amid strong demand due to the upcoming Christmas and Chinese New Year festivities, says CGS-CIMB Research.
In November, local CPO prices gained 11% month-on-month (m-o-m) to RM4,087 per tonne due to recovering demand and concerns over a supply shortfall due to weather issues.
The research house noted, “Expectations of lower palm oil supplies in December, January and February, which are traditionally the lowest palm oil production months, could likely support CPO prices.”
Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.
