HLIB Research said it believed that CPO price will remain lacklustre in the next few months, possible until 2Q24, on three accounts, including CPO’s unattractive price discount against soybean oil (US$258/mt in end-2023 vs. 3-month and 6-month average of US$367/mt and US$499/mt, respectively)
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with an upward bias next week given the expectations of low output as well as rebound in export demand
RHB see more upside risks for the sector now, with the impact of the ongoing El Nino and post under-fertilisation activities in 2021-2022. RHB expect CPO prices to range higher from current levels to above MYR4,000/tonne in 1H24, in anticipation of the El Nino impact on productivity in 2H24F. Rhb maintain our MYR3,900/tonne price assumption for 2024. Our base case: A moderate El Nino, which in previous years had led to a 2-7% decline in PO production. Should the El Nino become a strong one, we would need to relook at our price assumptions.
Exports also are seen at 15.6 million tons versus 15.1 million tons last year, while the price of crude palm oil should range between 3,900-4,200 ringgit per ton. In a nutshell, 2024 is expected to show a better performance with most key indicators improving
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Proton surpasses last year's total sales volume, fueled by the X Series
https://www.nst.com.my/business/corporate/2023/12/986653/proton-surpasses-last-years-total-sales-volume-fueled-x-series