(Dec 6): Palm oil has dropped to the lowest in two weeks following further losses in rival soybean oil after the Biden administration published last week a proposal for biofuel-blending mandates that were lower than expectations.
PLANTERS will likely register a weaker performance, both quarter-on-quarter (QoQ) and year-on-year (YoY), in their upcoming quarterly results on the back of lower palm oil prices, said a local research house.
Hong Leong Investment Bank Bhd (HLIB Research) has maintained an ‘Overweight’ stance on the plantation sector, supported by commendable valuations and high near-term crude palm oil (CPO) prices.