Research & Stock Picks

Company Reports

20 December 2024

By

Palm Oil Weekly (13 – 19 December 2024): Avg. CPO MYR 4,847 (-4.9% WoW)

  • In the last five trading days, CPO prices plummeted -4.9% WoW, averaging MYR 4,847/MT. The decline was driven by a combination of stronger USD and seasonal factors as well as the availability of cheaper substitutes, which shifted consumer demand in China and India, two of the world's largest CPO consumers.
  • Palm oil exports from Malaysia slipped nearly -10% MoM in the first half of December, a trend typically observed during winter (CPO tends to solidify at colder temperatures, complicating storage). Additionally, the drop in soybean oil prices (YTD: -20%, CPO +30%) has led some buyers to opt for the cheaper options, as reflected in the increase in November SBO reserves in China (+14% YTD to 941,500 MT) and India (+2% to 171,000 MT), and the considerable decline in CPO inventories in both countries (China: -36% YTD to 440,800 MT,  India: -30% YTD to 365,000 MT).
  • We fine-tune our FY24 average CPO forecasts from MYR 4,100/MT to 4,190 (YTD: MYR 4,177/MT) and MYR 4,500/MT in 2025F (prev: MYR 4,200/MT) on the back of B40 program and public preference towards CPO as cooking oil. On stocks, NSSS (TP IDR 350/sh) and TAPG (TP IDR 1,050/sh) are our top picks, due to young plantation profiles (<10 years old), reflecting higher crop and extraction yields.

Share This:

tren harga CPO

Download PDF

Download PDF

CPO - 13 - 19 December 2024

Download PDF

CPO - 13 - 19 December 2024

More Related

Company Reports

Dec 5, 2025

Morning Briefs

Dec 5, 2025

Economic Reports

Dec 5, 2025

Morning Briefs

Dec 4, 2025

Economic Reports

Dec 4, 2025

Morning Briefs

Dec 3, 2025

Economic Reports

Dec 3, 2025

Company Reports

Dec 2, 2025

Economic Reports

Dec 2, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Morning Briefs

Dec 1, 2025

Economic Reports

Nov 30, 2025

Morning Briefs

Nov 28, 2025

Economic Reports

Nov 28, 2025

Morning Briefs

Nov 27, 2025

Economic Reports

Nov 27, 2025

Morning Briefs

Nov 26, 2025

Economic Reports

Nov 26, 2025

Economic Reports

Nov 25, 2025

Morning Briefs

Nov 24, 2025

Economic Reports

Nov 24, 2025

Morning Briefs

Nov 21, 2025

Economic Reports

Nov 21, 2025

Economic Reports

Nov 20, 2025

Economic Reports

Nov 20, 2025

Morning Briefs

Nov 20, 2025

Economic Reports

Nov 20, 2025

Morning Briefs

Nov 19, 2025

Economic Reports

Nov 19, 2025

Company Reports

Nov 18, 2025

Economic Reports

Nov 18, 2025

Morning Briefs

Nov 17, 2025

Economic Reports

Nov 16, 2025

Morning Briefs

Nov 14, 2025

Company Reports

Nov 13, 2025

Economic Reports

Nov 13, 2025

Morning Briefs

Nov 13, 2025

Economic Reports

Nov 12, 2025

Morning Briefs

Nov 12, 2025

Economic Reports

Nov 11, 2025

Economic Reports

Nov 10, 2025

Morning Briefs

Nov 10, 2025

Morning Briefs

Nov 7, 2025

Economic Reports

Nov 6, 2025

Morning Briefs

Nov 6, 2025

Economic Reports

Nov 5, 2025

Economic Reports

Nov 5, 2025

Morning Briefs

Nov 5, 2025

laba bumi

Company Reports

Nov 5, 2025

Economic Reports

Nov 4, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Morning Briefs

Nov 3, 2025

Company Reports

Oct 31, 2025

Morning Briefs

Oct 31, 2025

Economic Reports

Oct 30, 2025

Company Reports

Oct 30, 2025

Economic Reports

Oct 30, 2025

Technical Stock Analysis

Oct 30, 2025

Morning Briefs

Oct 30, 2025

Economic Reports

Oct 29, 2025

Technical Stock Analysis

Oct 29, 2025

Morning Briefs

Oct 29, 2025

Economic Reports

Oct 28, 2025

Technical Stock Analysis

Oct 28, 2025

Economic Reports

Oct 27, 2025

Technical Stock Analysis

Oct 27, 2025

Morning Briefs

Oct 27, 2025