Affin Hwang Capital Daily Insight (LV) - 11 June 2015 - PLANTATION

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Sector Update � Plantation (NEUTRAL, maintain) - Inventory increase slightly to 2.24m MT Unexpectedly, inventory increased slightly to 2.24m MT in May15. CPO production continued to trend higher while exports surged. But imports were higher while domestic consumption remained flat. Implementation of the B10 programme in Malaysia and a stronger El Ni�o are potentially price-positive events. Maintain NEUTRAL.

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