SGX agriculture stocks to get boost from growing palm oil market
Growth drivers include improving economic conditions, higher living standards and growing demand for vegetable oil as a feedstock for biodiesel
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Singapore
STEADY growth in the global palm oil market is set to boost the Singapore Exchange's (SGX) eight agricultural products stocks that have a combined market capitalisation of S$29 billion.
In a market update report by the local bourse on Wednesday, the SGX said that in the 2017 year-to-date (YTD), the prices of these stocks, including Wilmar International and Bumitama Agri, fell by an average 13.7 per cent, compared to a 16.7 per cent gain in 2016. Palm oil prices also dropped 17.6 per cent in the YTD.
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