SINGAPORE (April 5): Wilmar International saw its share price take a 3% tumble on Wednesday, immediately after China announced 25% tariffs on imports of 106 US products, including soybeans.
“China is the world’s largest soybean importer, while Wilmar is the second-largest soybean crusher in China,” says RHB Research analyst Juliana Cai in a flash note on Thursday. “If the tariff takes effect, we think the long-term impact on Wilmar would be negative-to-neutral.”
In the short term, however, Cai opines that Wilmar might see some upside with a decline in soybean future prices... (Click here to read the full story)