KUALA LUMPUR: The current uptrend in crude palm oil (CPO) price, coupled with improvements in FGV Holdings Bhd’s operational performance will likely drive its financial performance higher.
Group chief executive officer, Datuk Haris Fadzilah Hassan (pix) said CPO price for September and October ranged between RM2,150 and RM2,200 per tonne and climbed to RM2,500 per tonne in November amidst lower production and stronger export demand.
“In the fourth quarter this year, we expect CPO price to range between RM2,200-RM2,400 per tonne. Some experts are even forecasting it to go up to RM2,700 per tonne for next year.
“We hope it can stay at this level because this is a breather that all players are looking forward to considering that we have experienced prolonged low prices for the last couple of years,” he told a press conference on FGV’s third quarter ended Sept 30, 2019 (Q3 2019) financial performance here today. - Bernama
source https://www.thesundaily.my/business/higher-cpo-price-operational-improvements-to-drive-fgv-s-financial-performance-higher-AG1679266
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