JAKARTA (Yosefardi) – Integrated agriculture company Charoen Pokphand Indonesia (CPIN) ended Tuesday’s morning session down 8.5% to Rp2700 on weakening of rupiah.
Charoen, which produces feed, has dropped 51% from its peak in May 2013 after rallying from Rp2600 in September 2012. The stock gained substantially by 113% in the period of September 2012 to May 2013.
Its peers Japfa Comfeed and Malindo moved in the same direction. Japfa dropped further by 1.68% to Rp1170 this morning, almost 50% below its peak.
Malindo Feedmill also dropped 10.4% this morning. The stock has dropped 45% from its peak.