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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. ....
KUALA LUMPUR (April 22): Investors pricing in a larger downside risk to crude palm oil (CPO) prices, the impact of Indonesia’s high tax on refined palm oil, and environmental, social and corporate governance (ESG) concerns are the key factors keeping plantation companies share prices from performing in tandem with the CPO price movement. RHB Research Institute’s analyst Hoe Lee Leng and Christopher Andre Benas said in a note today that the higher export levy, in particular, will cap CPO prices in Indonesia at RM2,700 to RM2,800 per tonne despite CPO prices, in general, rising to above RM4,000 per tonne. ....