Defensive consumer stocks deliver robust performance amid strong institutional inflows

Top 10 consumer staple stocks in Singapore have delivered a remarkable 26.7% total return for the year to date, demonstrating resilience amid global economic uncertainty. This performance is largely driven by strong crude palm oil (CPO) prices and robust retail demand. The top 10 non-cyclical consumer stocks in Singapore have attracted a combined S$327.4 million in net institutional inflows, contrasting with net outflows in the broader market.

Prominent companies, such as First Resources, Sheng Siong Group, Food Empire Holdings, Olam Group, and Golden Agri-Resources, have led the charge, ranking among the top 15 performers for the year. First Resources and Bumitama Agri, in particular, have outperformed the rest, with impressive returns of 116.7% and 59.5% respectively.

The latter's H1 2026 results reveal a 57.4% increase in net profit, propelled by higher production volumes and enhanced processing margins. Bumitama anticipates CPO prices will benefit from Indonesia's B50 biodiesel mandate and global energy dynamics, leading to an anticipated dividend payout range of 60-75% of distributable income.

Other palm oil-related companies, like Wilmar International and Golden Agri-Resources, have also experienced stronger profits in the first half of 2026. While Wilmar International remains a top performer with S$276.7 million in net institutional inflows, DBS Group Research maintains a "hold" recommendation, citing the need for stronger second-half performance.

Sheng Siong Group also showed solid growth, with a 24% YTD return, bolstered by an expanded store network and improved sales mix. Food Empire Holdings posted record results in the first half of 2026, with revenue and net profit hitting all-time highs, driven by growth across all segments and a 15% revenue increase. The company declared a higher interim dividend and is on track to deliver its sixth consecutive record full-year performance.