Research & Stock Picks

Company Reports

20 September 2024

By

Palm Oil Weekly (20 September 2024): CPO MYR 3,948 (+0.3% WoW)

  • In 12-19 September 2024, CPO prices rose +0.3% WoW, averaging MYR 3,905/MT, driven by concerns on lower Malaysia’s CPO production. At this stage, we retain our FY24 average forecast at MYR 4,100/MT (YTD: MYR 3,986/MT).
  • Preliminary estimates suggest that production in Malaysia fell 4% MoM during the first half of September due to dry weather. Recent rallies in soybean oil prices also supported CPO prices. Soybean oil, although still trading at a discount to CPO, gained +5% within the space of four days.
  • To increase exports, the Indonesian government reduced its export levy to 7.5% (current: 8.1-16.8%)  with MoF Regulation No.62/2024, effective from 21 Sept. The levy for processed palm products has also been lowered to 3-6%.
  • This export levy reduction will benefit upstream CPO players like TAPG (TP IDR 800/sh) and NSSS (TP IDR 265/sh), which are our top picks, supported by their relatively young plantation profiles (<10 years old), which should translate to higher crop and extraction yields.

Share This:

Download PDF

Download PDF

CPO - 20 September 2024

Download PDF

CPO - 20 September 2024

More Related

peluang aces ditengah gejolak ekonomi

Company Reports

Dec 20, 2024

Technical Stock Analysis

Dec 20, 2024

Morning Briefs

Dec 20, 2024

Economic Reports

Dec 20, 2024

Economic Reports

Dec 19, 2024

Morning Briefs

Dec 19, 2024

Technical Stock Analysis

Dec 19, 2024

Economic Reports

Dec 19, 2024

Economic Reports

Dec 18, 2024

Morning Briefs

Dec 18, 2024

Technical Stock Analysis

Dec 18, 2024

Economic Reports

Dec 17, 2024

Technical Stock Analysis

Dec 17, 2024

Economic Reports

Dec 16, 2024

Economic Reports

Dec 16, 2024

Morning Briefs

Dec 16, 2024

Technical Stock Analysis

Dec 16, 2024

Morning Briefs

Dec 13, 2024

Technical Stock Analysis

Dec 13, 2024

Economic Reports

Dec 13, 2024

Technical Stock Analysis

Dec 12, 2024

Morning Briefs

Dec 12, 2024

Morning Briefs

Dec 11, 2024

Technical Stock Analysis

Dec 11, 2024

Economic Reports

Dec 10, 2024

Technical Stock Analysis

Dec 10, 2024

Economic Reports

Dec 10, 2024

Morning Briefs

Dec 9, 2024

Technical Stock Analysis

Dec 9, 2024

Tantangan Batu Bara di Akhir 2024

Company Reports

Dec 6, 2024

tekan harga tembaga

Company Reports

Dec 6, 2024

pertumbuhan solid oil n gas

Company Reports

Dec 6, 2024

Company Reports

Dec 6, 2024

Technical Stock Analysis

Dec 6, 2024

Economic Reports

Dec 6, 2024

Morning Briefs

Dec 5, 2024

Technical Stock Analysis

Dec 5, 2024

Economic Reports

Dec 5, 2024

tren harga CPO

Company Reports

Dec 4, 2024

Morning Briefs

Dec 4, 2024

Technical Stock Analysis

Dec 4, 2024

Economic Reports

Dec 3, 2024

Technical Stock Analysis

Dec 3, 2024

Company Reports

Dec 2, 2024

Company Reports

Dec 2, 2024

Economic Reports

Dec 2, 2024

Economic Reports

Dec 2, 2024

Morning Briefs

Dec 2, 2024

Technical Stock Analysis

Dec 2, 2024

Morning Briefs

Nov 29, 2024

Technical Stock Analysis

Nov 29, 2024

Economic Reports

Nov 28, 2024

Company Reports

Nov 28, 2024

Technical Stock Analysis

Nov 28, 2024

Morning Briefs

Nov 28, 2024

Company Reports

Nov 26, 2024

Technical Stock Analysis

Nov 26, 2024

Company Reports

Nov 26, 2024

Economic Reports

Nov 25, 2024

Economic Reports

Nov 25, 2024

Technical Stock Analysis

Nov 25, 2024

Morning Briefs

Nov 25, 2024

Company Reports

Nov 22, 2024