Brokers back BCP as SAF runs at full capacity for the quarter, top target 58 baht

Verbio SE outlined its next development phase at its Capital Markets Day in Bitterfeld, marking the commissioning of a new ethenolysis plant for bio-based speciality chemicals as a milestone in the expansion of its renewable-molecule production platform and biorefineries. After years of high investment, the company said its focus is now increasingly on utilizing the capacity it has created, optimizing existing production plants and increasing earnings and cash flow. The event covered the market and competitive positioning of Verbio's existing business divisions, the further development of its business base in the USA, and the commercial ramp-up of its new chemical products. Verbio pointed to the resurgence of biomass as a raw material revitalizing the biofuels market while opening new value-creation opportunities beyond it, including expanded trading activities and additional revenue potential from the utilization and storage of biogenic CO2. Chief Executive Officer Claus Sauter said Verbio has developed over two decades from a biofuel producer into an integrated platform for a wide range of renewable molecules, with the company's twentieth flotation anniversary days away, and that it will now harness that platform's potential to generate value, cash flow and long-term returns for shareholders. Verbio also reaffirmed its commitment to disciplined capital use and a balanced approach between profitable growth, financial stability and sustainable value creation.

Chalush Chinthammit, Chief Executive Officer and Managing Director of Khon Kaen Sugar Industry Public Company Limited, or KSL, said global sugar prices are starting to improve, edging up to around 18 to 19 cents per pound amid a still-tight balance between production and consumption. For the 2026/27 crushing season, which is expected to begin in mid-December 2026, the company forecasts the nationwide sugarcane crush at approximately 85 million tonnes, up from around 80 million tonnes in the previous season, which will allow mills to operate at fuller capacity, lift utilisation rates and reduce unit production costs. KSL's main export markets remain in Asia, namely Indonesia, China, Taiwan and South Korea, while the company is exploring opportunities to expand into new markets, particularly Africa. Beyond sugar, KSL holds a 30% stake in BBGI Public Company Limited, or BBGI, which operates in biofuels and high-value bio-based products, as well as the development of sustainable aviation fuel, or SAF, to create a new S-Curve for the business over the long term.

Uniper agreed to purchase future sustainable aviation fuel from Syzygy Plasmonics' NovaSAF platform under a new supply deal. The NovaSAF agreement is intended to expand Uniper's low-carbon fuel offering for aviation clients under tightening European sustainability rules, adding exposure to renewable and bio-based fuels as policy and airline demand for cleaner jet fuel continues to build. Uniper operates an energy portfolio across Germany, the United Kingdom, Sweden, the rest of Europe, and other regions, so securing access to sustainable aviation fuel connects a low carbon product directly into markets where regulators and airlines are tightening standards on jet fuel emissions. The key proof point for investors is progress on Syzygy's NovaSAF facilities, especially the Uruguay plant expected around 2028, with Uniper expected to disclose contracted SAF volumes, pricing structures and contribution to its low carbon segment once production plans are clarified and the project reaches final investment decision. The deal does not change analyst expectations, which point to pressure on Uniper's revenue and margins over the next few years, but it shows the business leaning into greener commodities that could support more stable profitability over time.

Bangchak Corporation Public Company Limited, together with the Ministry of Tourism and Sports, the Department of Tourism, the Designated Areas for Sustainable Tourism Administration, the Thai Hotels Association, and the Thai Restaurant Association, signed a memorandum of cooperation on the management of used cooking oil to serve as feedstock for the production of sustainable aviation fuel, or SAF, through the Fry to Fly project. The project promotes the systematic collection of used oil from hotel and restaurant businesses, alongside a campaign against reusing frying oil. The signing ceremony was held on 5 October 2026 at the Phonbodi Meeting Room of the Ministry of Tourism and Sports. The signatories were Mrs. Gloyta Nathalang, Senior Executive Vice President of the Sustainability Management and Corporate Communications Group at Bangchak; Miss Woratheera Suwannasorn, Deputy Director-General of the Department of Tourism; Mr. Siripakorn Cheawsamoot, Director of the Designated Areas for Sustainable Tourism Administration; Mr. Udom Srimahachota, Vice President and Chairman of the Environment Committee of the Thai Hotels Association; and Mrs. Thaniwan Kulmongkol, President of the Thai Restaurant Association. Miss Natthriya Thaweevong, Permanent Secretary of the Ministry of Tourism and Sports, served as honorary witness. Miss Natthriya said that sustainable tourism requires cooperation across the entire chain, from travel, accommodation, and food to resource and environmental management, and that this project links hotels and restaurants to the aviation sector. Mrs. Gloyta said that sustainable aviation requires cooperation beyond the airport, and that the Bangchak group has more than two decades of experience in using used cooking oil to produce biofuels, starting with biodiesel for vehicles and extending to SAF production using the HEFA-SPK process in line with international standards. Mr. Siripakorn said the cooperation aims to support sustainable tourism in three areas: health and safety, the environment and low-carbon tourism, and the circular economy, which generates supplementary income for communities by allowing them to exchange or sell used oil instead of simply discarding it.

DBS Vickers Securities Thailand said in an analysis that the Thai government is considering cutting excise taxes on biofuels to lower fuel prices and spur consumption. Currently, the excise tax on gasohol stands at 6.00 baht per litre and on biodiesel at 5.953 to 6.92 baht per litre. Raising the share of biofuels in use would help cut crude oil imports and ease the government's burden of subsidising fuel prices, with the Oil Fund now running a loss of about 100 billion baht. With demand for ethanol and biodiesel expected to rise, DBS Vickers has named 11 Thai stocks set to benefit, divided into three groups by business type. The first group is direct producers and distributors of biofuels, namely BBGI, EA, UBE, GGC and TAE. The second group is integrated palm oil producers linked to biodiesel, namely PCE, SMO, APO and VPO. The third group is sugar producers linked to ethanol, namely KSL, KTIS and BRR.