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RHB remains 'neutral' on plantation sector as Indonesian government reduces levy structure; Wilmar still top pick

Felicia Tan
Felicia Tan6/25/2021 07:57 PM GMT+08  • 2 min read
RHB remains 'neutral' on plantation sector as Indonesian government reduces levy structure; Wilmar still top pick
The RHB team has kept ‘buy’ on Wilmar with a target price of $6.45.
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RHB Group Research’s analysts Hoe Lee Leng, Christopher Andre Benas, Sean Chew and the Singapore research team have maintained “neutral” on the plantation sector, following the Indonesian government’s decision to reduce the maximum threshold for export levies.

On June 22, the Indonesian government reduced export levies for crude palm oil (CPO), setting the minimum at US$175 ($235.18) per tonne from US$255 per tonne.

To put things in context, CPO prices are above US$1,000 per tonne.

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