Malaysian palm oil stocks rose on optimism its producers would gain from Indonesia’s decision to widen its export ban to include all palm oil products from the country.
Plantation stocks on the local bourse dominated the top gainer list on Monday morning (April 25) as Indonesia’s move to ban palm oil exports is seen to benefit Malaysian planters. At the time of writing, Kuala Lumpur Kepong Bhd (KLK) was the top gainer by value, surging RM1.56 or 5.57% to RM29.56, followed by its 47.43%-owned associate Batu Kawan Bhd that jumped RM1.20 or 4.32% to RM29.
PETALING JAYA: A sharp price crash for crude palm oil (CPO) is unlikely to happen in the near term due to the current insufficient supply of global vegetable oils and firm international crude oil prices, say analysts.