Unlike peers, palm oil producers Provident Agro (PALM), Sampoerna Agro (SGRO), and Multi Agro Gemilang Plantation (MAGP) ended flat Wednesday (Aug 8). One of them, MAGP, is seeking Rp200 billion of financing for its capital expenditures.
Read MorePalm oil has been under pressure for quite sometime now. The commodity stays below RM2500 per ton even though crude oil already moved closer to US$80 per barrel. Plantation companies reported significant drop in their net profit. Some will likely stay if pricing pressure stays longer, while others might leave the business.
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