11:01 AM MYT
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade range-bound next week at between RM3,200 and RM3,300 per tonne, said a dealer.
Interband Group of Companies senior palm oil trader Jim Teh said demand in the market is likely to be subdued as most of the international palm oil traders would have gone on leave for Christmas and year-end leave.
"However, this is seen to be a yearly affair not only for demand but also lower production due to the wet weather,” he told Bernama.
Meanwhile, MIDF in its research note maintained a 'neutral' rating on the plantation sector as the palm oil supply tightness is expected to remain until year-end, given the weaker output during the post-peak production period.