0249 GMT - Malaysia's palm-oil inventory may stay below 2 million tons for the next few months, which bodes well for prices, RHB IB's team led by Hoe Lee Lengsay in a note. They think demand for palm-oil exports could gradually increase as restocking continues. However, demand may be weighed down by buyers switching to other oils as CPO continues to trade at a relatively high premium or narrower discount against its rival oils, making it less appealing to importers. RHB maintains a neutral rating on Southeast Asia's plantation sector and pegs TA Ann, Sarawak Oil Palms, Bumitama Agri and London Sumatra Indonesia as its top picks. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
April 15, 2024 22:50 ET (02:50 GMT)
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