JAKARTA (Yosefardi) – Plantation stocks were in red zone this morning, in line with the broader market sentiment, but the further correction of crude palm oil (CPO) was the main factor.
The benchmark June 2014 contracts of CPO ended further down by more than 1% to RM2699 per ton Monday (March 24). July and August contracts also dropped to RM2670 and RM2651 per ton respectively.
At 9.34 am Jakarta time, BW Plantation lost 1.47% with over 21 million shares exchanged hands. London Sumatra declined 0.2% with over 409 million shares traded. And Bakrie Sumatra Plantations dropped 1.89% with tading volume of over 35 million. Astra Agro fell 2.28% but only 1.58 million shares traded.
In Malaysia, IOI Corporation declined 1.25% and Sime Darby down 0.3%. In Singapore, Wilmar International fell 0.58% and Golden Agri-Resources shed 0.87%.