What Buysell88 posted a few days ago about forward sales is somewhat correct . Simepltn 1q results . EPS 8.2 sen vs 5.7 sen yoy. Realized CPO ASP for Malaysia is $3,028 , Indonesia $$2,886 and Png $3,890. MPOB’s ASP for 1st q is $3,895. You can see the Malaysia and Indonesia ASP rather low due to forward sales .
@Johnzhang..expect SDP avg CPO selling price for the remaining quarters in 2021 to be much lower than MPOB and vs other companies unless price plunges below RM3,000 in 2H (as they have aggressively sold 70% of their production at below RM3,000). As for Indonesia, this has got nothing to do with forward sales. Indonesian palm oil producers are affected with their local CPO prices being suppressed after new tax structures were introduced late last year to subsidise and support their local biodiesel industry with punitive export tax and levy at over US$300 in 1Q 2021.
Yesterday’s FCPO selling pressure again was capped within the ongoing support of MYR3,845 and the 61.8% FR level. Selling pressure appears to be moderating at aforementioned level as we expect a recovery soon.
Buying interest continued to pick up over the past six days and we expect the FCPO to rebound, leading to further recovery soon.
Mabel expect FCPO consolidation is about to end...Uptrend still intact...
For those who decided to run, please run and take shelter at the Plantation. Come and join us at the plantation. Weather is beautiful and CPO is doing great. It's a great opportunity to feed 8 billion people across the planet.
As long as CPO is trading above RM 3,000 we can expect windfall profits for the coming quarter.. Currently CPO prices is at its best..
Worse will come. Heard news they are moving jobs for IT and Finance support from the previous Malaysia team SimeDarby Global Service Center (sold to DXC in 2019) to India team in this pendamic COVID-19 moment. Well Done GLC company.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
deric5721
16 posts
Posted by deric5721 > 2021-05-20 14:12 | Report Abuse
today vol quite low.. can the price fly later?