Global Market Sentiments Cast Shadow on Salim Group's Palm Oil Issuer LSIP

The performance of PT London Sumatra Indonesia Tbk. (LSIP), a Salim Group issuer, is susceptible to being overshadowed by sentiment prevailing in the global palm oil (CPO) sector.

Annisa Kurniasari Saumi & Yustinus Andri

16 Mar 2024 - 16.58
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Global Market Sentiments Cast Shadow on Salim Group's Palm Oil Issuer LSIP

Kantor Pusat PP London Sumatra (LSIP)./Annual Report 2008

Bisnis, JAKARTA – The prevailing negative sentiment surrounding crude palm oil (CPO) and its derivatives carries the potential to impact the performance of PT London Sumatra Indonesia Tbk. (LSIP), a Salim Group issuer, throughout this year. Notably, one of the adverse factors influencing the CPO commodity stems from developments in the South American region.

The risk lies in the competition faced by CPO against other vegetable oil commodities on the global market. Historically, CPO has enjoyed higher demand due to its relatively lower price compared to alternatives such as soybean oil, rapeseed oil, and sunflower seed oil.

The climatic conditions in the two primary CPO production centers, which are inversely related to the largest soybean oil production regions globally, hold the potential to alter the dynamics of the world vegetable oil market. According to research conducted by Andrew Shipley, an analyst at Eastport Research & Strategy, the longstanding superiority of CPO over soybean oil has shown signs of weakening in recent times. This weakening trend is attributed in part to the impacts of natural phenomena like El Niño.

Shipley elaborated that the Ocean Niño Index (ONI), sourced from the US National Oceanic and Atmospheric Administration (NOAA) for the Pacific Ocean region, recorded a figure of +2.0 in December 2023. An ONI figure of +0.5 or higher in a specific area typically signifies the presence of El Niño conditions.

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Global Market Sentiments Cast Shadow on Salim Group's Palm Oil Issuer LSIP

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