PTG Surges 4.5% to Nearly 2-Month High as Investors Speculate on Palm Oil Supply Crunch

The share price of PTG Energy Public Company Limited (SET: PTG) rose 4.51% to close the morning session on Monday, April 25, 2022, at THB13.90 per share. The share price briefly touched THB14.00 earlier in the day before edging slightly lower from its high. The last time PTG traded above THB14.00 level was in early March.

Investors are speculating on the report that Indonesia, world’s largest palm oil exporter, announced that it will cease to export palm oil starting from April 22, 2022, which could result in a potential supply crunch in the global market. On the other hand, PTG could benefit from its Palm Complex business under its subsidiary PPP Green Complex Co., Ltd., that is expected to be listed on the Thai stock exchange in the second quarter of 2022.

In addition, Indonesia once announced a halt in palm oil export in early January this year, but later revoked it in March.