Consumer Snippets – 07 November 2025

CPO price remains strong

The CIF Rotterdam YTD average to end October is US$1,217, with the average mill-gate price of US$855, both 11% higher versus last year. The CPO price continued to appreciate in 2H and it shows little sign of reversing. At the interim stage the CIF Rotterdam/mill-gates prices were US$1,180/US$826 per tonne. For the four months to end October period, prices rose by 7.8% to US$1,271/US890 per tonne. Yesterday we upgraded our M.P. Evans forecasts and initiated on Anglo-Eastern Plantations on an improved base case CPO ex-mill gate price of US$850/tonne. For both companies our FY26E and FY27E revert back to an ex-mill gate price of US$750/tonne. It has been a good year for the industry.