MARKET DEVELOPMENT
Malaysian CPO Supply at Its Lowest, Analyst Says
Malaysian CPO Supply at Its Lowest, Analyst Says
14/03/2017 (Tempo.Co) - The supply of Malaysia’s CPO (crude palm oil) on February 2017 has been on its lowest position recorded within the last six months with only 1.46 tons. Yudha Gautama, an analyst from PT Mandiri Sekuritas said that the number is lower compared to the number recorded in January 2017.
"The decrease was caused by decreasing monthly production and high domestic consumption, in addition to weak export," Yudha said on Monday, March 13, 2017.
Yudha also predicted that the CPO sector will continue to show positive growth because of improving demands in the future supported by re-stocking actions.
Hadiyansyah, a technical analyst from Mandiri Sekuritas said that currently, CPO stocks performance in the Indonesian Stock Exchange is mostly bearish. Some of the stocks including stocks of PT Perusahaan Perkebunan London Sumatra Indonesia Tbk (LSIP) and PT Astra Agro Lestari Tbk (AALI) were traded in between its short-term support-resistance level of Rp 1.450 to Rp 1.550 (LSIP), and Rp 14.600 to Rp 15.600 (AALI).
"The decrease was caused by decreasing monthly production and high domestic consumption, in addition to weak export," Yudha said on Monday, March 13, 2017.
Yudha also predicted that the CPO sector will continue to show positive growth because of improving demands in the future supported by re-stocking actions.
Hadiyansyah, a technical analyst from Mandiri Sekuritas said that currently, CPO stocks performance in the Indonesian Stock Exchange is mostly bearish. Some of the stocks including stocks of PT Perusahaan Perkebunan London Sumatra Indonesia Tbk (LSIP) and PT Astra Agro Lestari Tbk (AALI) were traded in between its short-term support-resistance level of Rp 1.450 to Rp 1.550 (LSIP), and Rp 14.600 to Rp 15.600 (AALI).