Today we are upgrading our EPS (dil. adj.) forecast by 3.8% to US$202.8c from US$195.3c to reflect the stronger than expected CPO mill-gate price this autumn. We have increased our full-year FY25E mill-gate price for the third time this year to US$850/tonne from US$830/tonne. We leave our US$750/tonne assumption unchanged for FY26E and FY27E. We normally expect some decline in the 2H mill-gate price as the FFB harvest is typically higher in summer and autumn but the mill-gate price has continued ....
