It is unlikely that plantation companies will continue to post double-digit profit growths in 2023, according to analysts, due to lower crude palm oil (CPO) prices, higher energy costs, and costlier raw material.
CGS-CIMB Securities Sdn Bhd said on Tuesday (Sept 27) foreign investors had last week posted their highest weekly net sale value of Bursa Malaysia-listed stocks year-to-date (YTD) at RM565 million, possibly due to the weak ringgit and global recession concerns at a time when world central banks are pursuing aggressive interest rate hikes to fight inflation.
Plantation stocks on Bursa Malaysia were among the top gainers, after Indonesia lifted restrictions on its workers entering Malaysia starting from Monday (Aug 1), including the workers from the plantation sector.
FGV Holdings Bhd said on Wednesday (July 20) that the oil palm planter will proceed with the recruitment of 1,210 workers from Indonesia as part of the company's earlier arrangement, despite Indonesia imposing a temporary freeze on sending migrant workers to Malaysia.
KUALA LUMPUR, July 13 Crude palm oil (CPO) prices are expected to average RM5,300 per tonne in the second half (H2) of 2022, lower than in the first half due to expectations of.