JAKARTA (Yosefardi) – Plantation shares opened substantially lower in the region Monday (June 24) as crude palm oil (CPO) declined further by almost 1% in the futures market.
The benchmark September contracts of CPO down RM21 to RM2418 per ton on Bursa Malaysia Derivatives this morning, while August contracts down RM21 to RM2425 per ton.
This contributed to lower opening of plantation shares in the region. Wilmar International fell almost 3% in Singapore, while First Resources and Bumitama Agri down 1.64% and 2.51% respectively.
In Jakarta, Astra Agro opened flat, while PP London Sumatra and Salim Ivomas slipped 0.6% and 1% respectively. BW Plantation gained 1.1%, but Sampoerna Agro and Tunas Baru Lampung joined red zone.
In Kuala Lumpur, KL Kepong and IJM Plantations down 0.28% and 1.23%, while IOI Corp inched up only 0.19%.