Singapore Stock Market News
ASEAN Plantations - Rising inventories put a cap on price rise
StockFanatic
Publish date: Fri, 11 Dec 2015, 11:47 AM
StockFanatic
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
■ Palm oil stocks rose 3% mom to a new record high of 2.91m tonnes as at end-Nov.
■ We are negative on this, as the stock level is above our and consensus forecasts.
■ This, coupled with recent drop in crude oil price to US$40/barrel, may cap the CPO price rise, fuelled by worries over El Nino impact and rising biodiesel mandates.
■ We expect palm oil stocks to fall 4% mom to 2.8m tonnes at-end Dec and CPO prices to trade at RM2,100-2,500 per tonne for the remainder of the year.
■ We stay Neutral on the sector and prefer FR, AALI and GENP for exposure.
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