CPO futures likely to see quiet trading next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to see quiet trading next week or retreat on slight profit-taking, with the price to move between RM3,200 and RM3,350 per tonne.
Interband Group of Companies senior palm oil trader Jim Teh said investors would likely be on leave for Chinese New Year as early as Jan 9 and resume trading on Feb 15.
"Most of them would not take oil next week due to the celebration, especially China as they have gotten their stock ahead of the festival, last month,” he told Bernama.
Meanwhile, Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said trading is expected to be volatile next week due to a short trading week with more focus on month-end stock for January.

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