bullish
Southeast Asia Plantations: Malaysia Palm Oil Inventories Surprised to the Downside
Niklas has highlighted this Insight as a Top Pick
319 Views12 Jul 2023 17:45
SUMMARY
- Malaysian palm oil inventories for June came in below market expectations, with output surprisingly weak given the increase in foreign workers in the first half of 2023.
- Reasons for this is not yet clear, but it is likely structural factors are putting pressure on output, which could exacerbate the anticipated El Niño effect on yields.
- Reiterate positive view on Plantation sector equities and the price outlook for crude palm oil (CPO). Forecasts maintained.
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Niklas Olausson
Independent Analyst
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