JAKARTA (Yosefardi) – Crude palm oil (CPO) extends rally in the futures market Wednesday (August 28). The benchmark November 2013 contracts gained RM21 to RM2452/ton on Bursa Malaysia Derivatives.
December 2013 contracts also gained RM19 to RM2452/ton, while September contracts increased RM11 to RM2466 per ton.
Plantation shares, which gained substantially Monday, retreated Wednesday in the region. Wilmar International fell 0.97% in Singapore, while Sime Darby slips 0.86% in Kuala Lumpur.
In Jakarta, Astra Agro Lestari lost 1.37% in morning trade, while BW Plantation dropped 2.7%. PP London Sumatra also declined 1.48%, while Salim Ivomas slashed 1.49%. Provident Agro is the only gainer with 1.27%.