Commodity experts in Malaysia expected that the supply of crude palm oil and oil palm products to be lower in the next two months due to:1- Fasting month and Eid celebration - most palm oil mills and plantations workers will take a long holiday as most workers come from Indonesia. Usually they took up to 14 days off to ge back to their homeland for celebration.
2- Replanting scheme - More replanting activities will be done mostly by smallholders in Peninsular Malaysia to answer the government call as means to enhance future production by replacing old trees with latest planting materials and management.
3- The lower usage of fertilizers that could hamper the crop productions due to fertilizer price increase, low rain and hot weather.
Therefore, s reported in local newspaper, the price of CPO within next two months will go from RM2000 to RM2500 per metric tonnes because of the factors above.
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