KLSE (MYR): GENTING (3182)
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4.77
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+0.08 (1.71%)
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Mini2021
1,446 posts
Posted by Mini2021 > 2022-04-12 16:43 | Report Abuse
KUALA LUMPUR: Crude palm oil (CPO) price is expected to remain at elevated levels, possibly until the first half of 2022 (1H22), said Hong Leong Investment Bank Bhd (HLIB).
This will be supported by weaker production outlook for corn and soybean in South America as well as geopolitical tension.
HLIB said the geopolitical tension would likely result in supply disruption in sunflower and rapeseed oils, as well as protracted fertiliser supply.
Over the longer term, HLIB continues to believe that a pullback in CPO price will materialise when palm oil output recovers, which in turn hinges on the entrant of foreign workers into Malaysian shores.