KUALA LUMPUR: The price of crude palm oil (CPO) futures contract in Kuala Lumpur, the global benchmark, fell to its lowest level since September 2015 as slow export growth and rising stockpile curbed the market’s appetite for the commodity.
In the derivatives market, the most active CPO futures contract declined RM18 to RM2,186 a tonne.
The contract had tumbled 13% so far his year.
Plantation companies, especially those that have higher exposure in Sabah and Peninsular Malaysia, are likely to register weaker quarterly results due to weaker CPO production and lower CPO average selling prices in 2Q18. – thestaronline