kuala lumpurmalaysian and indonesian plantation stocks were lifted after crude palm oil futures hit a new record high on rising demand and tight supply sime darby plantation bhd rose 57 and kuala lumpur kepong added 25 in early asian trading tuesday while singaporelisted wilmar international and indonesias astra agro lestari were up 31 and 27 respectively the gains came after benchmark prices for palm oil on the kuala lumpur derivatives exchange rose 03 on tuesday morning to a record 5686 ringgit 1357 a ton putting it 26 higher this year malacca securities said it is upbeat on the plantation sector given tighter output for the edible oil coupled with indias recent move to lower import taxes for the oil cpo production is being curbed by persistent labor shortages in malaysia and restrictions on exports from indonesia demand from india one of the worlds largest buyers of palm oil is expected to pick up after it cut its import tax to 50 from 75 on sunday indias palm oil imports in january fell 29 on year as refiners stepped up buying of soybean oil and sunflower oil as substitutes for pricier malaysian palm oil noted brokerage phillip nova palm oil prices have been breaking records high recently supported by gains in soybean oil and crude oil prices as well as cargo surveyors expectations of lower production and stockpiles in key producing nations in february surveyors amspec agri malaysia and sgs are expected to report estimates for malaysias feb 115 exports later in the day kuala lumpur kepong and sime darby plantation are scheduled to release their earnings results this week and wilmars is due next week