Palm | Kelapa Sawit

KUALA LUMPUR, Nov 24 (Reuters) - Goldman Sachs lowered its crude palm oil (CPO) price assumptions for 2009 and 2010 by 41 percent and 50 percent while cutting target prices for plantation firms under its coverage by up to 52 percent.
Palm prices at current levels are close to a bottom but the timing of a re-rating for the sector remains uncertain, the investment bank said in a research note on Monday.
"Overall, we see attractive opportunities for long-term investors, but in the near-term, CPO prices and plantation stocks could decline further before rising again," it said.
Goldman Sachs has rated Singapore-listed Wilmar as the industry's top pick while putting Sime Darby , Malaysia's top palm oil producer, on its conviction sell list, saying the Malaysian planter is more vulnerable to falling CPO prices.