PLANTATION
$KIMLUN / 5171 (KIMLUN CORPORATION BERHAD) $IOICORP / 1961 (IOI CORPORATION BERHAD) $TSH / 9059 (TSH RESOURCES BERHAD) $KLK / 2445 (KUALA LUMPUR KEPONG BERHAD)
Research by TA
Neutral

“Stockpile Rose Marginally in May”

The Malaysia Palm Oil Board (MPOB) announced a second consecutive month of increase in palm oil stockpiles to 1.75mn tonnes in May, which was consistent with market forecasts. Production was robust at 1.70mn tonnes (+13.5% MoM), exceeding expectations. Exports, on the other hand, climbed by 11.7% MoM to 1.38mn tonnes, but was lower than expected. Imports fell by 40.3% MoM, totalling 20.76k tonnes, while domestic consumption increased by 25.2% to 338.09k tonnes.

Analyst(s):
Angeline Chin
angelinechin@ta.com.my