As such, the research house’s top picks are First Resources and Wilmar International, both rated “add” at target prices of $2.03 and $4.10 respectively.
SINGAPORE (Mar 5): CIMB is maintaining its “neutral” call on the agribusiness sector while maintaining its average crude palm oil (CPO) price forecast of RM2,700 per tonne ($913.33) for 2018.
This comes after news of India’s move to raise the import duties for CPO and refined palm oil to 44% and 55%, respectively, which the research house deems positive for oil seed farmers in India as the higher import duties could boost oilseed prices in India.
