JAKARTA (Yosefardi) – The benchmark September contracts of crude palm oil (CPO) retreated RM34 to RM2428 per ton on the Bursa Malaysia Derivatives this morning.
This the biggest correction in the past few days of trading. October 2013 contracts also dropped RM33 to RM2420 per ton this morning on broad market correction of commodities.
Plantation shares, meanwhile, were mostly under pressure in the region. Wilmar International and Golden Agri-Resources down 2.16% and 0.9% respectively in Singapore, while Sime Darby slipped 0.74% in Kuala Lumpur.
In Jakarta, Astra Agro Lestari and PP London Sumatra dropped 2.63% and 3.83% respectively, while Salim Ivomas and Sampoerna Agro down 3% and 2.8% each.