Singapore Stock Market News
Plantations - India raises duties on CPO
StockFanatic
Publish date: Fri, 18 Jan 2013, 11:17 AM
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India has raised the import duties on crude edible oils to 2.5% and
lifted the freeze on the taxable value of edible oils. We believe this move,
which is aimed at protecting local oilseed farmers, will only be slightly
negative for CPO demand and selling prices.
Our view is premised on the fact that
the government has kept the refined
edible oils duty intact, with the duty
hike for crude edible oils being less
than expected. Maintain Neutral on
the regional planters with Wilmar,
Golden Agri, Indofood Agri, SIMP,
BW Plants and Samp Agro
continuing to be our top picks.
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