Sime Darby Plantation expects CPO prices to firm up
The logo of Sime Darby is seen at its headquarters in Kuala Lumpur February 7, 2018. — Reuters pic
“CPO prices are very much influenced by the prices of other edible oils, soybean oil for example, and we also see the trend from the market whereby competing oils are also seeing higher purchases due to demand,” he told reporters after the announcement of the company’s results for the six-month financial period ended Dec 31, 2018.
“All these negative news came into the market and had affected the price of our shares. Just for about two weeks, the price came down and as a result, a few institutions have been selling our shares,” he said. Crude palm oil, which is one of the major contributors to the Malaysian economy, has badly suffered due to the trade war.
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