It is predicted that the upward trend of Palm Oil price will see another climb within the next 2 weeks. It is due to the La Nina cycle has hit CPO-producing countries, such as Malaysia and Indonesia and it is threatening to decline in harvest. Reflecting on previous events, La Nina is always accompanied by hydrometeorological disasters such as floods and landslides.
In addition, the rally in CPO prices was also supported by price hikes by its substitute commodities, soybeans. Currently, there has been a delay in harvest-producing countries such as Brazil and the US. Which caused a strengthening price of soybeans.
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