PLANTATION 
 [%iZER%] [%UrjY%] 
Research by HLIB
Neutral

“Highest stockpile level since Feb-24”

Palm oil stockpile remained on an uptrend, rising by 4.3% MoM to 1.83m tonnes in Jun-24, as the slump in exports more than offset lower production. The uptrend in palm oil stockpile will likely continue into Jul-24, on the back of the continuation of seasonal uptick in cropping pattern will likely offset potential higher exports demand arising from palm’s improved price competitiveness against soyoil and the absence of festive-driven demand. 

Analyst(s):
Chye Wen Fei
[%bRiU%]

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

“Highest stockpile level since Feb-24”

Palm oil stockpile remained on an uptrend, rising by 4.3% MoM to 1.83m tonnes in Jun-24, as the slump in exports more than offset lower production. The uptrend in palm oil stockpile will likely continue into Jul-24, on the back of the continuation of seasonal uptick in cropping pattern will likely offset potential higher exports demand arising from palm’s improved price competitiveness against soyoil and the absence of festive-driven demand. 

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

$HSPLANT / 5138 (HAP SENG PLANTATIONS HOLDINGS BERHAD)