KUALA LUMPUR: RHB Research remains positive on crude palm oil (CPO) price going forward supported.
It said on Monday, Dec 13, the positive outlook is underpinned by: (1) tight supply on the assumption that the La-Nina effect will continue until 1QCY11; and (2) pick-up in imports from China following the stockpile release recently in order to replenish inventory level.
'We reiterate our RM3,000 a tonne CPO price forecast for CY11 and RM2,650 a tonne for CY10. We continue to like Sime Darby, IOI Corp and Kuala Lumpur Kepong with the optimistic view on their future growth,' it said.
It said on Monday, Dec 13, the positive outlook is underpinned by: (1) tight supply on the assumption that the La-Nina effect will continue until 1QCY11; and (2) pick-up in imports from China following the stockpile release recently in order to replenish inventory level.
'We reiterate our RM3,000 a tonne CPO price forecast for CY11 and RM2,650 a tonne for CY10. We continue to like Sime Darby, IOI Corp and Kuala Lumpur Kepong with the optimistic view on their future growth,' it said.
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