Sector Update
- Malaysia’s CPO production fell in Sep by 2.7% mom, while exports rose by a significant 21.2% mom. Despite the significant jump in exports, the lower production, slightly higher imports and lower domestic use caused closing CPO stock levels to remain relatively flat at 1.708m tonnes in Sep (from 1.704m tonnes in
Aug). As a result of the flat CPO stock levels, stock/usage ratio in Sep was also relatively flat at 9.18% (from 9.12% in Aug), in line with the 7-year average of 9.1%.
RHB Equity 360° - 12 October 2010 (Plantation, Globetronics; Technical: Kulim, IOI, Sime, Genting Plant, CPO)
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