SINGAPORE (Oct 9): Maybank Kim Eng is keeping its “hold” recommendation on agribusiness giant Wilmar International with a target price of S$3.89.

Just when the worst was thought to be over for the group, China introduced a new policy that allows the imports of Argentinian soybean meal.

In a Tuesday report, analyst Thilan Wickramasinghe says, “With current Argentinian soymeal spreads significantly cheaper than domestic production, structurally lower crushing margins may become a material risk.”

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