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aws全区号(www.2km.me)_MIDF Research stays positive on oil palm, TP RM3,600 a tonne

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“On top of that, we learnt that KLK has more comprehensive sustainability policy,” MIDF Research said.

KUALA LUMPUR: MIDF Research continues to be positive on the oil palm sector with CY21 crude palm oil (CPO) target price of RM3,600 a tonne.

The research house said on Friday it can conclude the misconception of Malaysia’s palm oil industry persists despite all the initiatives that have been taken by the players in the plantation sector.

“Our local plantation players are taking this matter very seriously with good participation. Hence, we opine that a more thorough analysis on the plantation sector is needed if there is a need to apply an ESG discount.

“Plus, Malaysia is the 2nd biggest palm oil producer after Indonesia and therefore attains the expertise in this industry. Aside to that, ESG-wise, our top pick in the plantation sector is KL Kepong (Buy, TP: 29.71),” it said.

MIDF Research pointed out 85% of KLK’s total group landbank is RSPO Certified.

“On top of that, we learnt that KLK has more comprehensive sustainability policy,” it said.

As for the palm oil near-term outlook, the research house believes the palm oil supply tightness situation will likely remain at least until end of this year.

The factors are (1) limited recovery of yield due to shortages of skilled harvesters, (2) better demand outlook on the back of better economic activities locally and globally and (3) upcoming La Nina weather phenomenon.

On the demand front, MIDF Research believes replenishment activities to import more palm oil will continue to be healthy bolstered by upbeat activities in HORECA segment in China and India.

“On another note, price-wise, we anticipate that the CPO price will remain favourable in 4QCY21 supported by tight inventory supply in our local plantation industry. All factors considered we maintain our positive stance on the plantation sector with 2021 CPO average price forecast of RM3,600 a tonne,” it said.


转载说明:本文转载自Sunbet。

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