Godrej Agrovet Rating – Add: Spike in palm oil prices boosts outlook
Higher palm oil prices (up 60% y-o-y) have increased realisations as well as profitability of Godrej Agrovet’s vegetable oil segment. Lower supplies from South-East Asia are leading to higher palm oil prices in India. With gradual reopening of the economy, demand from HoReCa segment is likely to improve, which may further increase palm oil prices.…
