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UOB Kay Hian kept a Market Weight rating on Malaysian plantation stocks after CPO prices fell 18.3 percent in 2018 on Indonesian bumper crops. The firm expects a slow 2019 recovery, with CPO averaging RM2,350-2,400 a tonne and higher prices in the second half.
Indonesian shipping congestion has eased.
Carry-over stocks and high global vegoil supply cap near-term upside, but expected inventory drawdowns and lower production growth support a gradual price recovery. Buyers should expect firmer palm oil prices later in 2019.
research.sginvestors.ioSGinvestorsJan 3, 2019After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
