KUALA LUMPUR, Nov 11 (Bernama) -- Apex Securities Bhd has maintained the full-year average crude palm oil (CPO) price forecasts at RM4,350 per tonne for 2025 and RM4,300 for 2026.
The CPO price year-to-date is RM4,357 per tonne.
In a note today, it said CPO prices have inched up 0.9 per cent month-on-month to close at RM4,412.5 in October.
“With palm oil inventories likely to ease in Nov-Dec on the back of seasonally lower production, we expect CPO prices to remain firm.
“The strength in prices will be underpinned by sustained demand from both food and biofuel segments, alongside softer production growth in Indonesia and Malaysia,” the research note said.
Hence, it projects CPO prices to stay resilient through 2026, with modest gains in the first half of 2026 (1H 2026) and a more notable recovery in 2H 2026, following the rollout of the B50 biodiesel mandate in Indonesia.
Meanwhile, Kenanga Investment Bank Bhd has maintained the CPO price at RM4,300 per tonne for 2025 and RM4,000 for 2026.
“After inching up further in October, CPO prices have started to weaken in November and should soften year-on-year (y-o-y) moving into 2026 on improving supply and rising inventory levels,” it said in a note.
Nevertheless, despite prospects of higher inventory levels in 2026, the overall supply-demand balance for edible oils globally is still one of tightness.
Hence, CPO prices should still hold firm at RM4,000 per tonne or slightly higher despite weaker y-o-y.
-- BERNAMA
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