Research & Stock Picks

Company Reports

29 November 2024

By

Palm Oil Weekly (22-29 November 2024): Avg. CPO MYR 4,889 (-2.0% WoW)

In the last 5 trading days, CPO prices dropped -2.0% WoW, averaging MYR 4,889/MT, which we attribute to weaker demand following end of the Indian festive season and winter starting in China (CPO is prone to freeze at colder temperatures). Furthermore, Malaysia, the world's second-largest CPO producer, reported declining CPO exports in the first 20 days of November to 981,687 MT (-5.32% MoM) on considerable drops in shipments to India (-42%) and EU (-30%).

However, in 25-28 November, CPO prices improved to MYR 5,045/MT (+4.5%), driven by worse-than-expected weather conditions in Malaysia. The country's meteorological department has issued warnings of heavy precipitation in several regions, which could negatively impact CPO production.

Potential for higher CPO output in December has paved the way for us to retain our FY24 average forecast at MYR 4,100/MT (YTD: MYR 4,060/MT) with NSSS (TP IDR 265/sh) and TAPG (TP IDR 800/sh) as our top picks, supported by their relatively young plantation assets (less than 10 years old), which should translate to higher crop and extraction yields.

Share This:

sawit

Download PDF

Download PDF

Download PDF

More Related

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

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

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

Technical Stock Analysis

Nov 22, 2024

Morning Briefs

Nov 22, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Nov 21, 2024

Economic Reports

Nov 21, 2024

laba bni

Company Reports

Nov 21, 2024

Morning Briefs

Nov 21, 2024

Technical Stock Analysis

Nov 21, 2024

Economic Reports

Nov 20, 2024

Morning Briefs

Nov 20, 2024

Technical Stock Analysis

Nov 20, 2024

Economic Reports

Nov 20, 2024

Morning Briefs

Nov 19, 2024

Technical Stock Analysis

Nov 19, 2024

Economic Reports

Nov 19, 2024

pertumbuhan bbca

Company Reports

Nov 18, 2024

Economic Reports

Nov 18, 2024