KONTAN.CO.ID - JAKARTA. The weakening prices of PT Mayora Indah Tbk's (MYOR) main commodities, wheat and sugar, are predicted not to increase the price of raw materials significantly. Research Analyst Henan Putihrai Securities Janice Kohar said that despite an oversupply, she believes the price weakening will still be limited due to geopolitical sentiment. "Even though there is an oversupply, we see that the price weakening will be limited due to geopolitical sentiment in the Middle East and the Red Sea attack, which could potentially drive up the price of raw materials such as wheat," Janice said recently.
In addition, social assistance that is currently being heavily poured by the government can provide a positive catalyst, as it can support people's purchasing power. Baca Juga: Mayora Indah's Performance Predicted to Grow Positively "The government announced a social assistance program in the first quarter of 2024, including the Family Hope Program, Basic Food Card, Village Fund BLT, Pre-employment Card, Smart Indonesia Program, and Smart Indonesia Card (KIP) with a total budget of IDR 81.2 trillion or an increase of 12% annually," Janice continued. Low inflation in December 2023 also provides support for purchasing power. This is evident from the Consumer Price Index (CPI) inflation of 0.41% monthly and 2023 inflation of 2.61% annually. In research on January 31, 2024, Ciptadana Securities Asia Analyst Putu Chantika Putri predicted that MYOR's sales in the fourth quarter of 2023 will result in positive growth. As of September 30, 2023, Mayora Indah recorded a net profit of IDR 2.02 trillion. This figure is up 87% from last year's same period worth IDR 1.08 trillion. Meanwhile, Putu predicts MYOR's net profit for the full year 2023 will reach IDR 2.7 trillion to IDR 2.9 trillion. Baca Juga: Stock Recommendations: Indofood CBP Sukses Makmur (ICBP) Continues to Lead the Market "Management also shows an optimistic attitude towards its performance in the full year 2024 by targeting a revenue growth of 10% year on year (YoY)," said Putu, on Wednesday (31/1). Putu indicates that Mayora Indah's main commodities, such as wheat and sugar, are showing a downward trend due to oversupply. However, she also noted the potential for a rise in wheat prices caused by geopolitics in the Middle East and the Red Sea. "Then there is also an increase in coffee and cocoa prices caused by concerns about El Nino weather that can weaken global production," she said. Baca Juga: Kinerja Mayora Indah Diprediksi Tumbuh Positif, Simak Rekomendasi Saham MYOR Ini
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