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

Economic Reports

Jul 13, 2025

Company Reports

Jul 11, 2025

Technical Stock Analysis

Jul 11, 2025

Morning Briefs

Jul 11, 2025

Technical Stock Analysis

Jul 10, 2025

Company Reports

Jul 10, 2025

Economic Reports

Jul 9, 2025

Technical Stock Analysis

Jul 9, 2025

Morning Briefs

Jul 9, 2025

Economic Reports

Jul 8, 2025

Company Reports

Jul 8, 2025

Technical Stock Analysis

Jul 8, 2025

Economic Reports

Jul 7, 2025

Morning Briefs

Jul 7, 2025

Technical Stock Analysis

Jul 7, 2025

Economic Reports

Jul 6, 2025

Technical Stock Analysis

Jul 4, 2025

Morning Briefs

Jul 4, 2025

Economic Reports

Jul 3, 2025

Technical Stock Analysis

Jul 3, 2025

Economic Reports

Jul 2, 2025

Technical Stock Analysis

Jul 2, 2025

Morning Briefs

Jul 2, 2025

Economic Reports

Jul 1, 2025

Economic Reports

Jul 1, 2025

Economic Reports

Jul 1, 2025

Technical Stock Analysis

Jul 1, 2025

Morning Briefs

Jul 1, 2025

Economic Reports

Jul 1, 2025

Technical Stock Analysis

Jun 30, 2025

Morning Briefs

Jun 30, 2025

Economic Reports

Jun 29, 2025

Technical Stock Analysis

Jun 26, 2025

Morning Briefs

Jun 26, 2025

Economic Reports

Jun 25, 2025

Technical Stock Analysis

Jun 25, 2025

Morning Briefs

Jun 25, 2025

Economic Reports

Jun 24, 2025

Technical Stock Analysis

Jun 24, 2025

Morning Briefs

Jun 24, 2025

Economic Reports

Jun 23, 2025

Technical Stock Analysis

Jun 23, 2025

Morning Briefs

Jun 23, 2025

Technical Stock Analysis

Jun 20, 2025

Morning Briefs

Jun 20, 2025

Economic Reports

Jun 19, 2025

Economic Reports

Jun 19, 2025

Technical Stock Analysis

Jun 19, 2025

Morning Briefs

Jun 19, 2025

Economic Reports

Jun 18, 2025

Economic Reports

Jun 18, 2025

Technical Stock Analysis

Jun 18, 2025

Economic Reports

Jun 17, 2025

Technical Stock Analysis

Jun 17, 2025

Morning Briefs

Jun 17, 2025

Economic Reports

Jun 16, 2025

Technical Stock Analysis

Jun 16, 2025

Morning Briefs

Jun 16, 2025

Technical Stock Analysis

Jun 13, 2025

Morning Briefs

Jun 13, 2025

Economic Reports

Jun 13, 2025

Technical Stock Analysis

Jun 12, 2025

Morning Briefs

Jun 12, 2025

Economic Reports

Jun 11, 2025

Technical Stock Analysis

Jun 11, 2025

Company Reports

Jun 11, 2025

Economic Reports

Jun 10, 2025

Technical Stock Analysis

Jun 10, 2025

Economic Reports

Jun 10, 2025

Technical Stock Analysis

Jun 5, 2025

Economic Reports

Jun 4, 2025

Technical Stock Analysis

Jun 4, 2025

Morning Briefs

Jun 4, 2025

Economic Reports

Jun 3, 2025

Company Reports

Jun 3, 2025

Technical Stock Analysis

Jun 3, 2025

Economic Reports

Jun 3, 2025

Economic Reports

Jun 2, 2025

Economic Reports

Jun 2, 2025

Economic Reports

Jun 2, 2025

Technical Stock Analysis

Jun 2, 2025

Morning Briefs

Jun 2, 2025

Economic Reports

Jun 1, 2025

Company Reports

May 28, 2025