MARKET DEVELOPMENT
Plantations Slip as Palm Oil Exports Fall More Than 5%
Plantations Slip as Palm Oil Exports Fall More Than 5%
21/08/2014 (The Star) - Exports of Malaysian palm oil products for Aug 1 to 20 fell 5.39% to 822,026 tonnes, with the latest batch of weak data weighing on the crude palm oil (CPO) futures.
A Reuters report, quoting cargo surveyor Intertek Testing Services on Wednesday, this was a decline of 5.39% from 868,843 tonnes shipped during July 1-20.
At 12.30pm, the KL Plantations Index fell 14.09 points ro 8,774.79.
CPO for third month delivery fell RM6 to RM2,062 extending the decline on worries about rising stockpiles and slowing exports.
Sarawak Oil Palms fell the most, down 20 sen to RM5.90, Genting Plantations lost 10 sen to RM10.22, Far East eight sen to RM7.52 and Kulim six sen to RM3.40.
TH Plantations lost three sen to RM1.89 and TSH Resources two sen to RM3.33.
However, KL Kepong rose four sen to RM23.10 and PPB Group two sen to RM15.
A Reuters report, quoting cargo surveyor Intertek Testing Services on Wednesday, this was a decline of 5.39% from 868,843 tonnes shipped during July 1-20.
At 12.30pm, the KL Plantations Index fell 14.09 points ro 8,774.79.
CPO for third month delivery fell RM6 to RM2,062 extending the decline on worries about rising stockpiles and slowing exports.
Sarawak Oil Palms fell the most, down 20 sen to RM5.90, Genting Plantations lost 10 sen to RM10.22, Far East eight sen to RM7.52 and Kulim six sen to RM3.40.
TH Plantations lost three sen to RM1.89 and TSH Resources two sen to RM3.33.
However, KL Kepong rose four sen to RM23.10 and PPB Group two sen to RM15.