THE Bursa Malaysia Plantation Index (BMPI) has performed remarkably well since the start of 2022 on the back of rising crude palm oil (CPO) prices due to supply constraints in other vegetable oils, the weaker ringgit and curtailed production as a result of labour issues, as well as challenging weather conditions.
Since the start of the year, the BMPI is one of the best-performing indices among the Bursa Malaysia index series, rising by 21.5% in the first five months of the year to close at 7,963.98 points on May 31, 2022.
During the same period, according to prices provided by the Malaysian Palm Oil Board (MPOB), the CPO price increased 29.7% to RM6,680 per tonne from RM5,150 per tonne as at end-December 2021.
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