RSPO suspension batters IOI Corp shares
US agribusiness conglomerate Cargill has decided to stop buying palm oil from it
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Kuala Lumpur
THE first cut may be the deepest, but subsequent cuts have also proved painful for IOI Corporation whose Roundtable on Sustainable Palm Oil (RSPO) sustainability certification was suspended by the organisation in April.
The sanction has added downward momentum to the company's share price which was already trending down owing to the slump in crude palm oil (CPO) prices.
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