10/09/2012 (The Star) - Shares of plantation companies fell in late morning on Monday, ahead of the release of the August plantation monthly statistics later in the day.

At 10.31am, the FBM KLCI was down 1.75 points to 1,622.80. Turnover was 225.07 million shares valued at RM270.96mil. There were 189 gainers, 208 losers and 225 counters unchanged.

KL Kepong fell the most, down 28 sen to RM22.02; PPB 14 sen to RM12.86 and IOI Corp six sen lower at RM4.98.

The Malaysian Palm Oil Board is set to release its figures on August stocks, which could hit a nine-month peak as high production offsets demand growth. A record Southeast Asian palm oil stocks may weigh on prices.

Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance also report Sept 1-10 exports numbers on Monday after a strong showing in August.

Meanwhile, Bloomberg reported Monday that Malaysian Palm Oil Council expected rising demand due to more markets from Africa and Middle east.

MPOC chairman Tan Sru Lee Yeow Chor was quoted saying exports might also be aided by palm oil's substantial discount to soybean oil.