Crude Palm Oil Prices Could Stay High — Market Talk

Crude palm oil prices are unlikely to return to pre-Middle East conflict levels, Maybank Investment Bank analyst Ong Chee Ting says in a note. Elevated prices of crude oil, diesel and fertilizer, together with higher biodiesel mandates in Indonesia and Malaysia, should continue to support prices, he says. Ong raises his 2026-2027 CPO price forecasts to 4,400 ringgit a ton from 4,100 ringgit a ton, citing the rising price trend and growing cost pressures. Maybank maintains a neutral rating on Southeast Asia's plantations sector but advocates a short-term trading strategy. SD Guthrie, Sarawak Oil Palms and Genting Plantations are its preferred sector buys. (yingxian.wong@wsj.com)