BUSINESS

PLANTATION COUNTERS ON UPTREND

11/01/2021 04:17 PM

KUALA LUMPUR, Jan 11 -- Shares of plantation companies on Bursa Malaysia posted an uptrend as investors rejoiced over a possible further rise in crude palm oil (CPO) price amid dwindling stocks.

At 3 pm, heavyweights KLK jumped 70 sen to RM24.70 and Sime Darby Plantation was three sen higher at RM5.20.

Sarawak Oil Palms was 21 sen firmer at RM4.34 and IJM Plantations rose six sen to RM1.93. 

TSH Resources was four sen firmer at RM1.14,while Sarawak Plantation was one sen better at RM2.25.

However, IOI Corp lost three sen to RM4.48.

The Malaysian Palm Oil Board (MPOB) today reported that crude palm oil (CPO) stocks slumped 19.2 per cent to 583,761 tonnes in December 2020 from the 722,451 tonnes in November 2020.

In its monthly December 2020 report, the MPOB said CPO production slid 10.59 per cent to 1.33 million tonnes from 1.49 million tonnes previously, while palm kernel output was 11.41 per cent lower at 310,204 tonnes from 350,144 tonnes in November 2020.

Palm oil exports gained 24.66 per cent to 1.62 million tonnes in December 2020 versus 1.3 million tonnes in the previous month.

The CPO futures benchmark March 2021 increased RM13 to RM3,830 per tonne at Friday’s close with the physical price for January South stood higher at RM4,030 per tonne.

-- BERNAMA

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy