The profits from the rising price of palm oil (crude palm oil/CPO) have not only been felt by companies and palm oil farmers.
Investors in the stock market have also enjoyed the benefits of the rising CPO price in the global market, which has driven a surge in palm oil issuer shares by hundreds of percent in the last year.
Shares of PT Gozco Plantations Tbk (GZCO) led the increase in palm oil issuers, with growth of 288% to Rp194 per share at the close of trading on April 27, 2022, compared to April 27, 2021 (year on year/yoy).
Then shares of PT Pradiksi Gunatama Tbk (PGUN) rose 222.07% (yoy) to Rp715 per share, PT Provident Agro (PALM) rose 194.32% (yoy) to Rp900, and PT Cisadane Sawit Raya Tbk (CSRA) rose 153.57% (yoy) to Rp730 per share.
Next, shares of PT Jaya Agra Wattie (JAWA) rose 83.33% (yoy) to Rp165, shares of PT Austrindo Nusantara (ANJT) rose 48.23% (yoy) to Rp980, and shares of PT Palma Serasih (PSGO) rose 46.83% (yoy) to Rp185 per share.
There were also shares of PT Astra Agro Lestari (AALI) which rose 42.99% (yoy) to Rp12,875, PT Fap Agri (FAPA) rose 35.77% (yoy) to Rp3,530, and PT Mahkota Grup (MGRO) rose 24.31% (yoy) to Rp895 per share.
Despite experiencing a large year-on-year surge, the palm oil issuer shares mentioned above have declined in recent days.
The decline is related to President Jokowi's decision to ban the export of cooking oil and cooking oil materials starting April 28, 2022, until an unspecified date.
The export ban was announced by Jokowi on Friday (April 22, 2022). Then on Monday's trading (April 25, 2022), the 10 palm oil issuer shares mentioned above immediately experienced selling pressure with the following details:
* PT Gozco Plant (GZCO) down -6.80%
* PT Pradiksi Gunatama (PGUN) stagnant 0.00%
* PT Provident Agro (PALM) down -4.95%
* PT Cisadane Sawit (CSRA) down -6.67%
* PT Jaya Agra Wattie (JAWA) down -1.82%
* PT Austindo Nusantara (ANJT) down -5.39%
* PT Palma Serasih (PSGO) down -3.19%
* PT Astra Agro (AALI) down -4.23%
* PT Fap Agri (FAPA) down -1.13%
* PT Mahkota Grup (MGRO) stagnant 0.00%
(Read Also: Cooking Oil Exports Banned, Palm Oil Issuer Shares Plummet)