Since March 2014. CPO prices have risen to levels unseen since March 2014.
Now with that piece of news, plantation companies such as Felda , Sime Darby and Genting Plantation have something to cheer on.
For those of us, who had tried to use any price weakness as a damning assessment on PM Najib, will they now TURN Around, and attribute FELDA's good fortune to Najib?
I think NOT. They will just put this one up due to the weather.
On a personal note, we believe to praise or blame the PM COMPLETELY depending on how FELDA's share perform on Bursa Malaysia, is seriously stupid, and EXPOSES one's utter lack of understanding of how the stock markets works.
Agri Money has the story here, on the latest CPO movements :
Palm oil prices hit a two-year high, as industry data showing a drop in Malaysian palm oil production last month, as plantations continue to grapple with the after-effects of El Nino, underlined ideas of near-term tightness in supplies.
The Kuala Lumpur palm oil futures for January soared 2.0% to settle at 2,843 ringgit a tonne in Kuala Lumpur, their highest close since March 2014, having earlier touched 2,863 ringgit a tonne.
The gains followed talk that data from the Malaysian Palm Oil Association industry group showed a 3.7% fall in palm oil output last month in Malaysia, the second-ranked palm oil producing country after Indonesia.
October is a particularly important month for Malaysian palm oil output, typically bringing the seasonal peak in production, and has not recorded a month-on-month drop in volumes as large as 3.7% on data going back to 2010.
