PETALING JAYA: Rising crude palm oil (CPO) prices, which have hit a 13-year high, may have peaked as further upsides could be capped by increases in inventory levels.
Malaysia’s palm oil inventories rose to their highest level in four months in March, gaining 11% month-on-month to 1.45 million tonnes.
The growth, naturally, beat the consensus forecast. The benchmark palm oil futures closed up RM76 at RM3,726 per tonne yesterday.
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