PALM OIL NEWS 2022

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SUMBER: STARBIZ, MS 2
1 MAC 2022

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FGV is hopeful that the US CBP will uplift its Withhold Release Order (WRO) by year-end.

KUALA LUMPUR: FGV Holdings Bhd's first quarter (Q1) 2022 net profit of RM427.6 million beat expectations, accounting for 51.4-52.5 per cent of Hong Leong Investment Bank Bhd's (HLIB Research) and consensus estimates.

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KUALA LUMPUR (Dec 28): Malaysian benchmark crude palm oil (CPO) spot prices will average US$850 (RM3,763.80) per tonne in 2023, significantly lower than US$1,175 per tonne in 2022, according to Fitch Ratings.

In a statement on Tuesday (Dec 27), the rating agency said benchmark prices have rebounded to above US$850 per tonne in the fourth quarter of 2022 (4Q2022), from the end-September level of around US$700 per tonne.

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KUALA LUMPUR (Aug 22): Fitch Solutions Country Risk and Industry Research anticipates the current downward trend in crude palm oil (CPO) prices to continue in the next four years to a low of RM2,600 per tonne in 2026.

The research outfit expects the edible oil prices to decline 23.1% year-on-year to RM4,000 per tonne next year. It reasons that the effects of one-off events that occurred in the first half of 2022 — the Russia-Ukraine conflict and the Indonesian palm oil export ban — are to ease further.

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KUALA LUMPUR: Investors will likely focus on the domestic plantation industry in the coming weeks as crude palm oil (CPO) prices are currently hovering around RM7,500 a tonne on a spot basis.

"Given that such level can be deemed at an all-time high, we could say investor's interest would revolve around this sector in the immediate term," Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said.