Bumitama Agri - RHB Invest 2024-11-12: Pure Planter With Inexpensive Valuations; Upgrade To BUY

Bumitama Agri - Pure Planter With Inexpensive Valuations; Upgrade To BUY

Published:
Bumitama Agri (SGX:P8Z) | SGinvestors.io

CPO prices continue rising; now at >MYR5,000/tonne (+15% in the past month).

  • - Read this at SGinvestors.io -
  • weather issues in South America resulting in slower-than-expected soybean planting progress in the initial few weeks of planting – although this has since caught up. This raised soybean oil prices by 14% in the last three weeks;
  • the Thai Government’s ban on palm oil exports until year-end to try to control rising prices of cooking oil. Although Thailand is not a huge producer or exporter of palm oil, this has affected sentiment;
  • (more speculative in nature) Donald Trump’s win in the US General Elections. In the 2016 election when Trump won, soybean and PO prices rallied 17% and 28% a few months before the election. Post election, prices rose further, by 10% and 11% to a peak of US$832/tonne and MYR3,306/tonne from end-2016 to early 2017.

Rest of 2024 to be susceptible to speculativeactivities, while fundamentals for 2025 are improving

  • Read more at SGinvestors.io.





Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-11-12



Read also RHB's most recent report:
2024-11-13 Bumitama Agri - Decent 3Q24 Net Profit Despite Output Drag; BUY.

Price targets by 2 other brokers at Bumitama Agri Target Prices.

Listing of research reports at Bumitama Agri Analyst Reports.

Relevant links:
Bumitama Agri Share Price History,
Bumitama Agri Announcements,
Bumitama Agri Dividends & Corporate Actions,
Bumitama Agri News Articles





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