InfoSAWIT, KUALA LUMPUR – According to the report of MIDF Research, crude palm oil (CPO) price in June would be cheaper 14,3% or about RM 3.251 per ton. But the prediction that El Nino would happen, CPO price would be still dynamic and can change.

CPO delivery price in Malaysia increased to be RM 3.730 per ton in June but it is still cheap at RM 3.525 per ton per bulan in average because other vegetable oils tends to be cheaper.

“We predict that CPO delivering price in Malaysia would be cheaper 7,5% in quarter to quarter to be RM 3.260 per ton in July or 19,1% in quarter to quarter to be RM 3.112 per ton in the third quarter of 2023. This happens for the decreasing demands and peak harvest, and also there is no holiday,” he said, as InfoSAWIT quoted from IMedia.

The company remains ‘neutral’ in this sector with the target that 2023 CPO would be about RM 3.500 per ton.

In the future, the company told CPO price could be cheaper for the decreasing demands and the increasing pressure of inflation. It would be combined by local and global interest rate that gets higher that many houses (families) would think twice t spend (their cash).

Price discount parity between CPO and soyoil gets close to be at US$ 190,2 per ton in average or increases 100% in month on month, as MIDF Research noted. (T2)