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Indonesia 'clearly' did not benefit from palm oil export ban, prices correct 28% after lifting: UOBKH

Jovi Ho
Jovi Ho6/24/2022 01:03 PM GMT+08  • 5 min read
Indonesia 'clearly' did not benefit from palm oil export ban, prices correct 28% after lifting: UOBKH
Indonesia’s palm oil industry has “clearly not benefited” from the high CPO prices over the last six months, add analysts Leow Huey Chuen and Jacquelyn Yow. Photo: Bloomberg
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Prices of crude palm oil (CPO) have corrected 28% since Indonesia announced the lifting of the export ban, offering the plantation sector some relief from further price deterioration, says UOB Kay Hian Research.

Indonesia’s palm oil industry has “clearly not benefited” from the high CPO prices over the last six months, add analysts Leow Huey Chuen and Jacquelyn Yow.

In a June 23 note, Leow and Yow are maintaining “market weight” on Singapore's plantation sector, and “buy” on Wilmar International with a target price of $5.50.

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