Analysts have generally raised their earnings forecasts for plantation companies. But given the high commodity prices, the soaring revenues did not come as a big surprise.
In a recent report, Maybank IB Research noted that Sarawak Oil Palms will continue to reap the benefits of high spot CPO prices as it has minimal forward sales. Last week, the Malaysian Palm Oil Board said it expected CPO prices to remain stable at above RM4,000 per tonne for Q3 before weakening in Q4 due to the expected recovery in production.
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