Research & Stock Picks

Company Reports

23 August 2024

By

Palm Oil Weekly (23 August 2024): CPO MYR 3,976(+2.7% WoW)

  • Between 26-30 August 2024, CPO prices rose +2.7% WoW, averaging MYR 3,916/MT, driven by concerns over supplies from the world’s top CPO producers (Malaysia and Indonesia) and potential recovery in demand.
  • According to MPOB, Malaysia’s CPO output between 1-20 Aug rose only 4% (normally 15-16%) from the same period in the previous month (1-20 Jul). Additionally, Indonesia plans to revise its biofuel policy from B35 (35% palm oil) to B40 (40% palm oil) starting January 2025. These developments have raised concerns about possible decline in global CPO supply.
  • By region, India and China have recently ramped up their CPO purchases. Chinese importers have secured some cargoes for December delivery, while India has increased its CPO stockpile in preparation for several upcoming religious festivals.
  • We retain our FY24 average forecast at MYR 4,100/MT (YTD: MYR 3,988/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), which should translate to higher crop and extraction yields ahead.

Share This:

Download PDF

Download PDF

CPO - 23 August 2024

Download PDF

CPO - 23 August 2024

More Related

Technical Stock Analysis

Sep 13, 2024

Morning Briefs

Sep 13, 2024

laba astra

Company Reports

Sep 12, 2024

Economic Reports

Sep 12, 2024

Morning Briefs

Sep 12, 2024

Technical Stock Analysis

Sep 12, 2024

Company Reports

Sep 11, 2024

Economic Reports

Sep 11, 2024

Morning Briefs

Sep 11, 2024

Technical Stock Analysis

Sep 11, 2024

Economic Reports

Sep 10, 2024

Morning Briefs

Sep 10, 2024

Technical Stock Analysis

Sep 10, 2024

Economic Reports

Sep 10, 2024

Morning Briefs

Sep 9, 2024

Technical Stock Analysis

Sep 9, 2024

Technical Stock Analysis

Sep 8, 2024

Technical Stock Analysis

Sep 6, 2024

Economic Reports

Sep 6, 2024

Morning Briefs

Sep 5, 2024

Technical Stock Analysis

Sep 5, 2024

Economic Reports

Sep 5, 2024

Technical Stock Analysis

Sep 4, 2024

Economic Reports

Sep 4, 2024

Morning Briefs

Sep 4, 2024

Company Reports

Sep 3, 2024

Technical Stock Analysis

Sep 3, 2024

Morning Briefs

Sep 3, 2024

Economic Reports

Sep 3, 2024

Economic Reports

Sep 2, 2024

Economic Reports

Sep 2, 2024

Morning Briefs

Sep 2, 2024

Technical Stock Analysis

Sep 2, 2024

Morning Briefs

Aug 30, 2024

Company Reports

Aug 30, 2024

Company Reports

Aug 30, 2024

Company Reports

Aug 30, 2024

Company Reports

Aug 30, 2024

Economic Reports

Aug 30, 2024

Technical Stock Analysis

Aug 30, 2024

Economic Reports

Aug 29, 2024

Morning Briefs

Aug 29, 2024

Technical Stock Analysis

Aug 29, 2024

Company Reports

Aug 28, 2024

Economic Reports

Aug 28, 2024

Economic Reports

Aug 28, 2024

Technical Stock Analysis

Aug 28, 2024

Morning Briefs

Aug 28, 2024

pertumbuhan pinjaman

Company Reports

Aug 27, 2024

kupedes bbri

Company Reports

Aug 27, 2024

Company Reports

Aug 27, 2024

Technical Stock Analysis

Aug 27, 2024

Economic & Fixed Income

Aug 26, 2024

Morning Briefs

Aug 26, 2024

Technical Stock Analysis

Aug 26, 2024

Technical Stock Analysis

Aug 23, 2024

Morning Briefs

Aug 23, 2024

Economic Reports

Aug 22, 2024

Morning Briefs

Aug 22, 2024

Technical Stock Analysis

Aug 22, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Aug 21, 2024

Technical Stock Analysis

Aug 21, 2024

Morning Briefs

Aug 21, 2024

Economic & Fixed Income

Aug 20, 2024

Technical Stock Analysis

Aug 20, 2024

Economic & Fixed Income

Aug 19, 2024

Technical Stock Analysis

Aug 19, 2024

Morning Briefs

Aug 19, 2024