We are upgrading our pricing assumptions for AEP Plantation with our EPS (Dil. Adj.) forecast up 34% to US$217c to reflect the stronger than expected crude palm oil (CPO) mill-gate and palm kernel (PK) prices this year. The pricing environment has started well, with the CPO mill-gate price averaging US$860/tonne and peaking at cUS$900/tonne; which is a reminder that the CPO price can be a proxy for the oil price. This is too strong to ignore and we have increased our FY26E CPO mill-gate price as ....
