Oil prices are hitting all-time highs worldwide, creating long lines and panic buying. If that reads like an old story, consider this: we're not talking about fuel oil here. We're talking about food oil, and sunflower oil and palm oil in particular.
In the case of sunflower oil, it's because of a sharp decrease in supply due to the war in Ukraine. Russia and Ukraine together accounted for 75 percent of sunflower oil production before the war began, with Ukraine the world's largest exporter. With harvests in Ukraine stalled , and sanctions in place against Russian firms, production and exports have slumped: exports from Ukraine are down 95 percent since the invasion, and if the war grinds on, Ukrainian farmers risk missing their harvesting and planting windows.
The sunflower oil shortage has hit some Western countries particularly hard. Sunflower oil is one of the most popular cooking oils in Germany and the UK, both of which love their deep-fried foods and value (or valued) sunflower oil for its relatively low price point and comparatively high smoke point. The shortage has created runs on sunflower oil in both countries, with grocery stores rationing sales after shelves were cleared of all supplies, and some restaurants in Germany taking fries off the menu.
I would think the 6 sen final dividend is for FY ending 2021. The 1st qtr FY2022 result will be announced in the coming weeks which should be the all time high and possibly a first interim dividend would also be in the pipeline we would evaluate after this
Actually even if CPO price is 4.50 K to 5 K per tonne plantations will still reap in enormous profit and this can last for a year at least so fear not kawan2 but don't wait until 12.00 la hehe
I ardy park a bus @ 5.80 not looking at technical but fundermental Msia market is too small can be easily cornered can see clearly operators are at work today coupled with esos profit taking
Titan3322 u better dont buy lorr..u sell to me ok.. U.complain this share so much.. U look at qrs lorr..u blind ah. U think its worth rm6.8 only ah...lol..joker..
Lol We dont eat gloves And farm land is disappearing. Compare apples n oranges ah. Joker. Gosh no wonder sop going down got jokers comparing palm oil to gloves..gloves went up 1200% before correction.. Yes u r right maybe we should compare..lol
@ Yau Yh there is a world of difference between gloves and palm oil. For a start CPO price of RM4K to RM5K per tonne is going to stay for at least 1.5 yrs which means all plantations will record super profit throughout 2022 and beyond. Secondly the barrier of entry to gloves making is very low and start up time is very short too while it takes at least 6 yrs for oil palm to mature. Having say that I am not asking you to buy at 10.00 but take this opportunity to accumulate some at the current price which I consider is seriously undervalued. The selling could be done by the esos holders and IBs manipulation bcoz of the call warrants issued by them. Once the esos holders finished the selling the stock will rebound back to at least 6.50 maybe around 7.00 when the bonus ex date is announced. The rebounce can be as soon as tomorrow no BS !
Actually, what I meant was there will be days when the price drop significantly but if the fundamentals are strong, it will rebound so be prepared psychologically for such corrections and not panic sell.
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Mabel
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Posted by Mabel > 2022-05-08 08:58 | Report Abuse
https://www.bharian.com.my/bisnes/lain-lain/2022/05/952480/eropah-mula-beralih-kepada-minyak-sawit
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