Prices for corn, wheat, soybeans, palm oil, and so forth have collapsed by 50%. Palm-oil prices are closely correlated with soybean prices. Palm-oil-plantation companies also have lost a lot of value, and some look attractive. There’s IOI in Malaysia and Wilmar International. The stocks are depressed. IOI has a 4% dividend yield in a relatively strong currency, the Malaysian ringgit. Wilmar yields 2%. That’s more than the bond yield in Singapore.
India also offers opportunity. Its stock market is up 30% this year in dollar terms. It could rally another 15% next year.
