Of El Nino and vegoil output

THE plantation sector was the best performing in June among Bursa Malaysia’s 13 sectorial indices. Market data show the sector index was up 4.2% month-on-month mainly due to local fund buying as foreign funds continued their selling with RM2.4bil in net outflows from the local equity market.

The buying suggests smart money is making early bets on a developing thematic – the return of the El Nino climate event in a much warmer world over the past eight consecutive years.