Watch Indonesian Plantation Stocks as Palm Oil Price Seen Rising
2019-01-21 01:34:55.554 GMT

By Harry Suhartono
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(Bloomberg) -- Indonesian plantation shares may gain after
a projection that the price of palm oil may advance by as much
as $100 a metric ton through June as inventories of the tropical
oil decline.
* NOTE: Crude palm oil price depends on the outlook for
stockpiles, which will shrink until the middle of the year,
“especially if Indonesia maintains its heightened pace of
biodiesel use,” LMC International Ltd. Chairman James Fry, a
closely watched industry analyst, said on Saturday
* NOTE: Crude palm oil futures traded at the equivalent of ~
$540 as of Friday close
* Stocks to watch are:
** Astra Agro Lestari, Perusahaan Perkebunan London Sumatra
Indonesia, Tunas Baru Lampung, Salim Ivomas Pratama, Sampoerna
Agro, Provident Agro, Sinar Mas Agro Resources and Technology
* Jakarta Agricultural Index +1.2% since the start of 2019, the
worst performer among 9 industry groups in Jakarta Composite
** Benchmark gauge +4.1% so far this month
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