Palm oil stocks drop on Indonesian export ban; analysts expect further spike to international prices

SHARES of palm oil counters listed on the Singapore Exchange (SGX) fell on Monday (Apr 25) after Indonesia announced it would ban the export of palm oil from Apr 28.

Among the counters, Bumitama Agri saw the largest decline, losing as much as 17 per cent or S$0.145 to trade at an intra-day low of S$0.71 at 11.38 am.

This was followed by Kencana Agri , which fell as much as 11.9 per cent or S$0.035 to an intra-day low of S$0.26 at 9.10 am.