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Analyst Projects CPO Price Corrected
Indonesia-Malaysia work together to prop CPO price
Monday, 13 February, 2017 | 13:06 WIB
Analyst Projects CPO Price Corrected

TEMPO.CO, Jakarta - Crude palm oil (CPO) price is expected to be in a short-term downtrend as the industry will begin a production recovery process in March.

Mandiri Sekuritas analyst Yudha Gautama said the temporary correction will give investors a chance to buy. "Low CPO price will boost purchases for restocking and biodiesel. We are currently reviewing the CPO price assumption for the entire year of 2017," he wrote in a research published on Monday, February 13. 

Yudha said that Malaysia's inventory volume had dropped to a five-month low to 1.54 million tons as exports weakened.

"We are still confident for 2017's CPO price because demand prospects are improving, supported by restocking and biodiesel activities," he said.

The Malaysian Palm Oil Board (MPOB) showed its inventory fell to 1.54 million tons in January or by 33 percent annually. This is the lowest inventory volume since August 2016.

"We estimate that inventory level will remain low over the next few months, as we are still experiencing low harvest season," Yudha said. 

Yudha projects SPO stocks to remain attractive with prices staying in the positive zone. He recommended buying plantation stocks as the main option. 


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