Palm oil stocks record stronger H1 revenue, profits on higher CPO prices, demand

Singapore

SINGAPORE-LISTED palm oil counters enjoyed a lift in their financial results across the board amid higher crude palm oil (CPO) prices and stronger demand for their products.

Year to date, palm oil futures are up 54.1 per cent as supply from producing countries Malaysia and Indonesia came under pressure due to drier weather. Data from the Malaysian Palm Oil Board (MPOB) showed that July output hit a four-month low of 1.5 million tonnes, down 16 per cent on a year-on-year (y-o-y) basis and 5 per cent on a month-on-month (m-o-m) basis.