Palm Oil Falls Further, Plantation Shares Mostly in Red

JAKARTA (Yosefardi) – The benchmark November 2013 contracts of crude palm oil (CPO) opened lower by RM11 to RM2406 per ton on Bursa Malaysia Derivatives this morning.
The commodity was traded as low as RM2392 per ton after losing RM9 on Tuesday (Sept 3rd).
December 2013 and January 2014 contracts also declined RM12 to RM2407 and RM2410 per ton respectively, while October 2013 down RM12 to RM2407/ton.
Plantation shares, meanwhile, were mostly in red in the region led by 1.42% fall of Felda Global Ventures in Kuala Lumpur and Golden Agri’s 2.63% in Singapore.
In Jakarta, BW Plantation, which gained almost 100% from its bottom, retreated 1%, while PP London Sumatra down 1.23%. Gozco, Astra Agro, MAG Plantation, Smart Tbk, and Tunas Baru Lampung were also in negative territory.