Singapore

THE recent spike in crude palm oil (CPO) prices has helped lift the top and bottom lines of CPO plays listed on the Singapore bourse. The effects, however, have not been universal. It is the smaller, pure-play counters - such as Bumitama Agri and Mewah International - that have come out tops.

Their share price performances, however, have not necessarily matched their improved financial performances - suggesting some upside for investors. Nirgunan Tiruchelvam, head of consumer sector equity research at Tellimer, said there is "tremendous diversity and divergence" in the average selling prices of each palm oil company as each firm adopts its own "hedge strategy".