Research & Stock Picks

Company Reports

11 October 2024

By

Palm Oil Weekly (11 October 2024): CPO MYR 4,269 (+0.9% WoW)

  • In 3-10 October 2024, CPO prices rose +0.9% WoW, averaging MYR 4,324/MT, on expectations of supply disruptions on consumers shifting to biodiesel from tensions in the Middle East which led to oil having surged (Brent: +6.3% WoW; WTI: +6.9% WoW).
  • CPO, a key ingredient in biofuel, saw considerable increase in demand, pushing its price to 6-month high of MYR 4,389/MT. In addition, India, the world’s biggest CPO importer, is expected to increase purchases ahead of Diwali celebrations.
  • Palm oil inventories in Malaysia climbed to their highest level since January, as consumption in the world’s second-largest grower slumped. Stockpiles jumped 6.9% MoM to 2.01mn tons in September, potentially applying pressure on prices.
  • We retain our FY24 average forecast at MYR 4,100/MT (YTD: MYR 4,002/MT), with NSSS (TP IDR 265/sh) and TAPG (TP IDR 800/sh) as our top sector’s picks, supported by their relatively young plantation profiles (<10 years old), reflecting higher crop and extraction yields.

Share This:

Download PDF

Download PDF

CPO - 11 October 2024

Download PDF

CPO - 11 October 2024

More Related

Morning Briefs

Oct 18, 2024

Economic Reports

Oct 17, 2024

Morning Briefs

Oct 17, 2024

Economic Reports

Oct 16, 2024

Economic Reports

Oct 16, 2024

Morning Briefs

Oct 16, 2024

Technical Stock Analysis

Oct 16, 2024

Economic Reports

Oct 15, 2024

laba astra

Company Reports

Oct 15, 2024

Economic Reports

Oct 15, 2024

Technical Stock Analysis

Oct 14, 2024

Morning Briefs

Oct 14, 2024

Economic Reports

Oct 11, 2024

Technical Stock Analysis

Oct 11, 2024

Morning Briefs

Oct 11, 2024

Economic Reports

Oct 10, 2024

Morning Briefs

Oct 10, 2024

Technical Stock Analysis

Oct 10, 2024

Economic Reports

Oct 9, 2024

Technical Stock Analysis

Oct 9, 2024

Morning Briefs

Oct 9, 2024

Economic Reports

Oct 8, 2024

Technical Stock Analysis

Oct 8, 2024

Morning Briefs

Oct 7, 2024

Technical Stock Analysis

Oct 7, 2024

Economic Reports

Oct 4, 2024

Technical Stock Analysis

Oct 4, 2024

inflasi tahunan indonesia

Morning Briefs

Oct 4, 2024

Technical Stock Analysis

Oct 3, 2024

Morning Briefs

Oct 3, 2024

Economic Reports

Oct 2, 2024

Technical Stock Analysis

Oct 2, 2024

Morning Briefs

Oct 2, 2024

Economic Reports

Oct 1, 2024

bank jago

Company Reports

Oct 1, 2024

laba bank bmri

Company Reports

Oct 1, 2024

Economic Reports

Oct 1, 2024

Economic Reports

Oct 1, 2024

Technical Stock Analysis

Oct 1, 2024

Economic Reports

Sep 30, 2024

Technical Stock Analysis

Sep 30, 2024

Morning Briefs

Sep 30, 2024

Technical Stock Analysis

Sep 27, 2024

Economic Reports

Sep 27, 2024

Morning Briefs

Sep 27, 2024

Technical Stock Analysis

Sep 26, 2024

Morning Briefs

Sep 26, 2024

Economic Reports

Sep 25, 2024

Morning Briefs

Sep 25, 2024

Technical Stock Analysis

Sep 25, 2024

Technical Stock Analysis

Sep 24, 2024

Economic Reports

Sep 24, 2024

Economic Reports

Sep 23, 2024

Technical Stock Analysis

Sep 23, 2024

Morning Briefs

Sep 23, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Sep 20, 2024

Technical Stock Analysis

Sep 20, 2024

Economic Reports

Sep 20, 2024

Morning Briefs

Sep 20, 2024

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