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Prabhudas Lilladher Report
Indonesia, the largest producer/exporter of palm oil, has announced a ban of palm oil exports. The ban comes as another blow after the surge in oils due to the Ukraine-Russia war.
Given that plam oil is 60% of oil imports and Indonesia being the second largest seller, it will push up domestic prices in coming months. Palm oil is a key ingredient in major food processing industries, quick service restaurants etc. will impact costs and margins in several consumer companies.
Fast moving consumer goods staples majors such as Britannia Industries Ltd., Hindustan Unilever Ltd., Nestle India Ltd. and ITC Ltd. would be amongst the key companies affected directly as a result of the ban and higher prices.
We believe the impact would be seen most in categories such as biscuits, noodles, cakes, potato chips, frozen desserts etc.
QSR’s like Westlife Development Ltd. and Reataurant Brands Asia Ltd. can also feel the pinch given edible oil usage to cook/fry their patties/fries.
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