Nov 10, 2010

Palm oil hike buoys CPO companies

Palm oil price for November delivery has gone up 54.51% from July 7 at US$699 per ton to yesterday's level at US$1,080 per ton. What about palm oil-based stocks?
Among eight palm oil-based stocks listed at Indonesia Stock Exchange (IDX), PT BW Plantation Tbk (BWPT), controlled by Widodo family, has surged 62.69% from July 7 2010 to November 9 2010 from Rp670 per share to Rp1,090.
The stock advanced is the highest gain among the other seven peers.
PT Sinar Mas Agro Resources & Technology Tbk (SMAR), owned by Sinarmas Group, gained 62.12% from Rp3,300 per share, ranked second, on July 7 2010 to Rp5,350 per share on November 9 2010.
PT PP London Sumatra Indonesia Tbk (LSIP), controlled by Samil Group, ranked third by gaining 55.28% from Rp8,050 per share on July 7 2010 to Rp12,500 on November 9 2010.
PT Sampoerna Agro Tbk (SGRO), controlled by Indonesian tycoon Putera Sampoerna, ranked fourth with a capital gain of 39.56%. The stock has surged from Rp2,275 per share to Rp3,175 per share.
One stage below SMGR is PT Gozco Plantations Tbk (GZCO), owned by Surabayan's family namely Tjandra Gozali, posted a 37.5% gain from Rp320 per share to Rp440 per share on November 9 2010.
Astra Group's plam oil unit dubbed PT Astra Agro Lestari Tbk (AALI) gained 36.48% from Rp19,050 per share on July 7 2010 to Rp26,000 per share on November 9 2010.
PT Tunas Baru Lampung Tbk (TBLA) and Bakrie Group's palm oil unit PT Bakrie Sumatera Plantations made the lowest gain of 25.71% and 4.23% during the period of July 7 to November 9 2010.

Disclosure: No position at the stock mentioned above

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2 comments: said...

This is gonna be a CPO era

Insider Stories said...

yup...but, one stock is still lagging,,,UNSP,,,,