PETALING JAYA: Analysts are maintaining their “neutral” stance on the plantation sector, with pockets of positivity based on a projected increase in crude palm oil (CPO) stockpile in the second half of 2024 (2H24).
In a note published yesterday, Hong Leong Investment Bank (HLIB) Research observed that the palm oil stockpile had remained on an uptrend for the second straight month in June, rising by 4.3% month-on-month (m-o-m) to 1.83 million tonnes, as the slump in exports more than offset lower production.
