PLANTATION
 [%wIaA%] 
Research by MIDF
Neutral

“Estate Activity Remains Intact”

Stronger upstream activity in May. CPO output in May surged significantly to 1.70m tonnes (+13.5%mom; +12.3%yoy; +9.4%ytd) versus 1.52m tonne in prior year, riding contribution from most of the states particularly in the Kedah area (+78.6%yoy) and Kelantan (+25.3%yoy) as it benefited from dry weather environment on top of improved foreign labour productivity. Separately, the country’s FFB received by mills also jumped to 8.93m tonne (+16.2%yoy) with a higher average yield of 1.43 tonne/ha (+16.3%yoy) recorded, while average OER muted at 19.52% dragged by low crops cyclicity environment in most of the states.

Analyst(s):
MIDF RESEARCH
[%RYFY%]

PLANTATION
 $KLSE-TAANN 
Research by MIDF
Neutral

“Estate Activity Remains Intact”

Stronger upstream activity in May. CPO output in May surged significantly to 1.70m tonnes (+13.5%mom; +12.3%yoy; +9.4%ytd) versus 1.52m tonne in prior year, riding contribution from most of the states particularly in the Kedah area (+78.6%yoy) and Kelantan (+25.3%yoy) as it benefited from dry weather environment on top of improved foreign labour productivity. Separately, the country’s FFB received by mills also jumped to 8.93m tonne (+16.2%yoy) with a higher average yield of 1.43 tonne/ha (+16.3%yoy) recorded, while average OER muted at 19.52% dragged by low crops cyclicity environment in most of the states.

Analyst(s):
MIDF RESEARCH
research@midf.com.my