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Analysts say CPO prices to remain volatile on market, weather uncertainties

STORY: Analysts say CPO prices to remain volatile on market, weather uncertainties DATELINE: June 14, 2023 LENGTH: 00:02:34 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of the palm plantation area 2. various of palm trees and fruits on the tree 3. various of a backhoe loader gathering palm fruits 4. various of palm oil factory 5. various of trucks carrying a bunch of palm fruits and oil trucks on the road STORYLINE: Analysts on Tuesday expected crude palm oil (CPO) prices to remain volatile due to the market and weather uncertainties that could impact crop production and prices. Affin Hwang Investment Bank said in a note that it made no changes to its CPO average selling price assumptions of 3,800 ringgit (823 U.S. dollars) to 4,000 ringgit per ton for 2023 amid the volatility. Besides, it said that the expectation of favorable crop prospects in the United States and Canada, cautious buying due to global recessionary fears and spill-over weakness from declining energy prices, have

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Analysts say CPO prices to remain volatile on market, weather uncertainties