皇“huang”冠『guan』正「zheng」网会《hui》员开『kai』户(www.hg108.vip)_Are days of ‘super-high’ CPO prices gone?

admin 2个月前 (06-26) 社会 18 0

皇《huang》冠『guan』正网【wang】会员(yuan)开户www.hg108.vip)是一个(ge)开「kai」放皇冠正网即时比分、皇冠正“zheng”网会员开户“hu”的{de}平(ping)台(tai)。皇〖huang〗冠 guan[正网『wang』会《hui》员『yuan』开“kai”户平‘ping’台『tai』(www.hg108.vip)提“ti”供〖gong〗最(zui)新皇冠登录 lu[,皇〖huang〗冠APP下载包含新「xin」皇冠体 ti[育代理、会「hui」员APP,提供“gong”皇「huang」冠正网代理开《kai》户、皇冠正网『wang』会员【yuan】开 kai[户业务“wu”。

,Recession fears, Indonesian supply weigh on sector

PETALING JAYA: Commodity prices that stoked inflation are falling fast and this includes crude palm oil (CPO), which saw prices tumble by almost a quarter in less than a month.

On June 22, Malaysia’s daily average CPO price fell to the lowest level this year at RM5,046 per tonne, about RM3,000 lower than the record-high price seen on March 2.

Some experts are predicting even cheaper CPO prices in the second half of 2022 (2H22), although on a full-year basis, the average CPO price is forecast to be above the RM5,000-per-tonne mark.

Fears of a recession, Indonesia’s U-turn on its palm oil export ban and the expected easing of the foreign worker shortage in local plantations have contributed to the normalisation in CPO prices.

The fact that the prices of other rival edible oils have also been falling weighed down the CPO performance.

Looking ahead, CGS-CIMB Research said Malaysian upstream palm oil producers would be more affected than their Indonesian counterparts as the former face a steeper rise in production costs, as well as a fall in CPO prices.

“Palm oil producers with estates in Indonesia are likely to see weak second-quarter earnings, as palm oil sales were disrupted by the export ban, leading to likely higher inventory as at end-June 2022.

“However, we predict earnings could rebound strongly in the third quarter of 2022 (3Q22) versus 2Q22 as inventory clears and the export sales volume normalises.”

CGS-CIMB Research also said the declining CPO price trend was broadly in line with its expectation.

The brokerage had forecast CPO prices to average around RM5,000 per tonne in 2H22 as compared with RM6,391 per tonne achieved in the first five months of this year.

“We expect demand for palm oil to be supported at the current price level of RM4,000 to RM5,000 per tonne as edible oil stocks at consuming countries remain low due to the earlier supply disruptions.

“A key area to watch is whether palm oil producers will be able to meet the market’s expectation of a stronger 2H22 palm oil harvest, as Malaysia faces an acute shortage of workers and the current high palm oil stocks in Indonesia have negatively impacted palm oil supplies from *** allholders,” the brokerage said in a note.

Meanwhile, plantation industry veteran Datuk Mohd Nageeb Abdul Wahab expects the drop in CPO prices to be temporary.

Speaking with StarBiz, the outgoing chief executive officer of the Malaysian Palm Oil Association (MPOA) said the declining CPO prices were due to Indonesia releasing its palm oil stock that was built up during the short-lived export ban.

The sudden additional CPO supply in the market, however, is expected to ease soon.

Mohd Nageeb pointed out that there remains a shortage of edible oils globally, including CPO.

网友评论

  • (*)

最新评论

站点信息

  • 文章总数:9698
  • 页面总数:0
  • 分类总数:8
  • 标签总数:4204
  • 评论总数:3449
  • 浏览总数:968494