The disappointment was largely due to lower global supplies and the expensive ringgit.
SINGAPORE (Mar 8): OCBC is highlighting Wilmar International as its top “buy” pick at a fair value estimate of $3.51 for its lower likelihood of being impacted by India’s recent import tax hike on crude palm oil (CPO), given its diversified business which extends to trading in other oils.
In a Thursday report, lead analyst Low Pei Han says she expects CPO prices to remain lacklusture despite OCBC Treasure Research and Strategy’s expectations of relatively healthier fundamentals, as seen since the start of 2018, to lift CPO prices higher.
