Plantation companies maintain cautious stance

TheStar Tue, Jan 24, 2023 12:00am - 1 year View Original


PETALING JAYA: Plantation companies are maintaining a cautious outlook for 2023, on the back of lower crude palm oil (CPO) and palm kernel (PK) prices and unresolved labour issues.

Chin Teck Plantations Bhd executive chairman Goh Wei Lei said average selling prices of CPO have been declining steeply.

“The financial performance for financial year 2023 (FY23) is expected to decline with the drop in CPO and PK prices from the historical high levels,” he said in the company’s 2022 annual report.

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