💎Crude palm oil play $Wilmar Intl(F34.SI)$ r is one of the rare stocks that traded in the green amid the broad market carnage since the outbreak of the Middle East war
✳The stock is up 4.3% this month, while trending Wilmar call warrant $Wilmar MB eCW260630(ZFIW.SI)$ (https://warrants.com.sg/tools/livematrix/ZFIW) has climbed 15.4% to SGD 0.015. There are no trending put warrants available over Wilmar
↔Tensions in the Middle East have led to a sharp narrowing of the palm oil-gas oil (PO-GO) spread, increasing the likelihood of Indonesia implementing their B50 grade of palm oil-based biodiesel (Reuters, 9 Mar)
🌪Additionally, chances of an El Niño developing in 2H26 appear to be rising, with estimates ranging 40-60%, according to US NOAA and WMO's forecasts
🆙This week, two analysts upgraded their price targets on Wilmar shares, noting that regulatory risks for Wilmar appear to be fading after the company booked US$782m in compensation payments and provisions last year
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