plantation shares may consolidate in the short term after their recent price rally on Bursa Malaysia, commodity analysts say. But they add that whether that happens depends on the direction of crude palm oil (CPO) prices, as well as exports and stock levels over the next two months.
“Most plantation stocks had run ahead of their fundamentals during the recent rally, despite the CPO price having yet to breach the RM1,500-per-tonne level, on the back of high stockpiles and lacklustre exports in October,” an analyst said.
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