Brokers' take
Plantation - regional | Overweight UOB Kay Hian, May 8
INDONESIA is expected to consume up to 1.35 million kilolitres (1.19 million tonnes) of biodiesel in May-Oct 17. This is lower than expectations as the market was expecting a volume similar to that of the third biodiesel contract. This is negative to the sector as the market had been expecting Indonesia's biodiesel demand to absorb the excess supply which will come on stream in 2H-FY17. Meanwhile, we reckon the old biodiesel pricing of crude palm oil base price (+US$125/tonne) will remain for now. Maintain "overweight".
Frasers Logistics & Industrial Trust | Buy Target price: S$1.12 May 8 close: S$1.025 OCBC Investment Research, May 8
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