PLANTATION
 [%NgxF%] [%XVNS%] 
Research by HLIB
Neutral

“Mildly higher stockpile”

Palm oil stock level increased for the second consecutive month (albeit marginally), by 0.5% MOM to 1.75m ton in May-24, as higher exports and domestic consumption were more than offset by seasonally higher production. The uptrend in palm oil stockpile will likely continue into Jun-24, on the back of the continuation of seasonal uptick in cropping pattern, palm’s weak price competitiveness over competing oils, and the absence of festive -driven demand. 

Analyst(s):
CHYE Wen Fei
[%ElGJ%]

PLANTATION
 $KLSE-IOICORP $KLSE-HSPLANT 
Research by HLIB
Neutral

“Mildly higher stockpile”

Palm oil stock level increased for the second consecutive month (albeit marginally), by 0.5% MOM to 1.75m ton in May-24, as higher exports and domestic consumption were more than offset by seasonally higher production. The uptrend in palm oil stockpile will likely continue into Jun-24, on the back of the continuation of seasonal uptick in cropping pattern, palm’s weak price competitiveness over competing oils, and the absence of festive -driven demand. 

Analyst(s):
CHYE Wen Fei
wfchye@hlib.hongleong.com.my

$HSPLANT / 5138 (HAP SENG PLANTATIONS HOLDINGS BERHAD)