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NewsHigher palm oil prices buoy plantation stocks
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Higher palm oil prices buoy plantation stocks
by hlk Thu 22 Dec 2011, 12:58
Kretam Holdings Bhd advanced 4.2 per cent to RM2.50, set for its highest
close since Dec 3, 1998. Rimbunan Sawit Bhd rose 2.3 per cent to 89
sen, and Sarawak Oil Palms Bhd climbed 1.5 per cent to RM5.48.
Palm
oil futures gained 1.7 per cent to RM3,072 (US$970) a metric tonne in
Malaysia yesterday, the steepest increase since Dec 5, on concern
vegetable oil supplies will drop as production in Malaysia slows and dry
weather threatens soyabean crops in Brazil and Argentina. -- Bloomberg
close since Dec 3, 1998. Rimbunan Sawit Bhd rose 2.3 per cent to 89
sen, and Sarawak Oil Palms Bhd climbed 1.5 per cent to RM5.48.
Palm
oil futures gained 1.7 per cent to RM3,072 (US$970) a metric tonne in
Malaysia yesterday, the steepest increase since Dec 5, on concern
vegetable oil supplies will drop as production in Malaysia slows and dry
weather threatens soyabean crops in Brazil and Argentina. -- Bloomberg
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