07/12/2012 (Bernama) - Plantation counters appeared among the top losers when trading ended at 12.30 pm triggered by heightened worries over the high crude palm oil stocks and bearish demand.

Counters like Far East Holdings dwindled 50 sen to RM6.80, Kulim (Malaysia) declined 13 sen to RM4.48 and United Plantations lost 10 sen to RM24.40.

The plantation index fell 46.92 points to 7,851.56.

An analyst told Bernama today that investors continued to reduce their hold on plantation counters due to negative price forecast for palm oil prices next year.

"Most research houses expect 2013's CPO prices to trade lower from current year prices, as such analysts are downgrading their earnings forecast for the industry" he said, adding that demand would further dampen next year due to the regulatory uncertainty from top buyers, China and India, which would hurt exports.

On Wednesday, CPO futures contract ended slightly lower on lack of buying interest while on the physical market, December South lost RM20 to RM2,080 a tonne.