Boustead Plantations reports RM21.89mil Q3 net loss

Malaysian palm oil futures declined on Tuesday evening as high end-stocks and sluggish demand dented sentiment but pared an earlier 1 percent drop

PETALING JAYA: Boustead Plantations Bhd has recorded a net loss of RM21.89mil for its third quarter ended Sept 30, compared to a net profit of RM557.6mil during the same period a year ago.

The group attributed the fall to the decline in palm product prices, lower crop production and the increase in expenditure corresponding to a larger area under harvesting.