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Palm oil stocks down on CPO futures
Singapore-listed palm oil stocks took a tumble on a slide in Malaysian crude palm oil futures. The world's biggest-listed palm oil company, dropped as much as 6.3 percent to hit a 10-week low of S$4.60. Plantation firm Indofood Agri also fell as much as 6.2 percent to hit a 9-week low of S$2.26, while Golden Agri-Resources slipped by 5 percent to S$0.785.
Malaysian crude palm oil futures dipped further on Tuesday as fears of a build-up in stocks and declining soyoil prices depressed the market, following a 3 percent drop on Monday.
If the crude palm prices continue to fall, then these stocks may see huge unwinding in the upcoming trading sessions.
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