On the back of lower crude palm oil (CPO) output from Malaysia in February, analysts from DBS Group Research and RHB Group Research are including Singapore plantation stocks Wilmar International, Bumitama Agri (BAL) and First Resources among their top picks.

CPO stockpile fell 1.9% y-o-y and 2.0% m-o-m for the month of February, while stocks fell to 1.3 million metric tonnes, due to weaker-than-expected output of 1.1 million metric tonnes.

To DBS’s team of analysts William Simadiputra, Woon Bing Yong and the Malaysian Research team, CPO prices are likely to remain supported in the upcoming months as stockpile is expected to remain low in March.

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