Research & Stock Picks

Company Reports

13 September 2024

By

Palm Oil Weekly (13 September 2024): CPO MYR 3,909 (-0.7% WoW)

  • Between 6-13 September 2024, CPO prices declined -0.7% WoW, averaging MYR 3,937/MT, driven by higher import tax from India and lower soybean prices.
  • On 14 September, India raised basic import tax on crude and refined edible oils from 5.5% to 27.5% to protect farmers suffering from lower oilseeds prices. In 2023, 19% of Indonesia's CPO exports were delivered to India, our second biggest overseas market.
  • Soybean oil prices fell -2% WoW as South America’s growing season approached with its premium flipping to a discount to CPO, trading c. USD 24/ton lower on 12-Sept. In addition, MYR gained 6.8% YTD against USD expectation of Fed rate cuts.
  • Given recent decline in soybean prices, we may have to cut our FY24 CPO price forecast of MYR 4,100/MT. Regarding our top picks, we continue to favor NSSS (TP IDR 265/sh) and TAPG (TP IDR 800/sh), supported by their relatively young plantation profiles (<10 years old), reflecting higher crop and extraction yields.

Share This:

Download PDF

Download PDF

CPO - 13 September 2024

Download PDF

CPO - 13 September 2024

More Related

Economic Reports

Sep 19, 2024

Morning Briefs

Sep 19, 2024

Economic Reports

Sep 18, 2024

Economic Reports

Sep 18, 2024

Morning Briefs

Sep 18, 2024

Technical Stock Analysis

Sep 18, 2024

Economic Reports

Sep 17, 2024

Technical Stock Analysis

Sep 17, 2024

Technical Stock Analysis

Sep 13, 2024

Morning Briefs

Sep 13, 2024

laba astra

Company Reports

Sep 12, 2024

Economic Reports

Sep 12, 2024

Morning Briefs

Sep 12, 2024

Technical Stock Analysis

Sep 12, 2024

Company Reports

Sep 11, 2024

Economic Reports

Sep 11, 2024

Morning Briefs

Sep 11, 2024

Technical Stock Analysis

Sep 11, 2024

Economic Reports

Sep 10, 2024

Morning Briefs

Sep 10, 2024

Technical Stock Analysis

Sep 10, 2024

Economic Reports

Sep 10, 2024

Morning Briefs

Sep 9, 2024

Technical Stock Analysis

Sep 9, 2024

Technical Stock Analysis

Sep 8, 2024

Technical Stock Analysis

Sep 6, 2024

Economic Reports

Sep 6, 2024

Morning Briefs

Sep 5, 2024

Technical Stock Analysis

Sep 5, 2024

Economic Reports

Sep 5, 2024

Technical Stock Analysis

Sep 4, 2024

Economic Reports

Sep 4, 2024

Morning Briefs

Sep 4, 2024

Company Reports

Sep 3, 2024

Technical Stock Analysis

Sep 3, 2024

Morning Briefs

Sep 3, 2024

Economic Reports

Sep 3, 2024

Economic Reports

Sep 2, 2024

Economic Reports

Sep 2, 2024

Morning Briefs

Sep 2, 2024

Technical Stock Analysis

Sep 2, 2024

Morning Briefs

Aug 30, 2024

Company Reports

Aug 30, 2024

Company Reports

Aug 30, 2024

Company Reports

Aug 30, 2024

Company Reports

Aug 30, 2024

Economic Reports

Aug 30, 2024

Technical Stock Analysis

Aug 30, 2024

Economic Reports

Aug 29, 2024

Morning Briefs

Aug 29, 2024

Technical Stock Analysis

Aug 29, 2024

Company Reports

Aug 28, 2024

Economic Reports

Aug 28, 2024

Economic Reports

Aug 28, 2024

Technical Stock Analysis

Aug 28, 2024

Morning Briefs

Aug 28, 2024

pertumbuhan pinjaman

Company Reports

Aug 27, 2024

kupedes bbri

Company Reports

Aug 27, 2024

Company Reports

Aug 27, 2024

Technical Stock Analysis

Aug 27, 2024

Economic & Fixed Income

Aug 26, 2024

Morning Briefs

Aug 26, 2024

Technical Stock Analysis

Aug 26, 2024

Technical Stock Analysis

Aug 23, 2024

Morning Briefs

Aug 23, 2024

Economic Reports

Aug 22, 2024

Morning Briefs

Aug 22, 2024

Technical Stock Analysis

Aug 22, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Aug 21, 2024