Record CPO price to drive earnings

Earnings of plantation companies will likely have peaked in the first half of this year (1H22) due to record high crude palm oil (CPO) spot average selling prices.

Maybank IB Research forecast planters’ earnings for the second quarter (2Q22) to be higher year-on-year (y-o-y) driven by record high CPO spot average selling price although forward sales locked-in earlier by some companies may water down the full-benefits of high spot prices.

“We expect the industry to deliver its 10th consecutive quarter of y-o-y core profit after taxation and minority interests growth for the upcoming 2Q22 results underpinned by historic high CPO spot prices which averaged MYR6,552 per tonne in 2Q22.

“Palm kernel (PK), a by-product, also averaged higher y-o-y at RM3,525 per tonne but it has come off from its 1Q22 peak,” it pointed out.

Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.

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