KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to continue its upward momentum next week on higher export and weaker production expectations.
Palm oil trader David Ng said anticipation of a weaker than expected output despite a peak production period is causing anxiety among market participants while higher demand from India and China owing to restocking activities would continue to boost exports.
Malaysian CPO futures prices would also likely move in tandem with the movement on the Chicago Board of Trade (CBOT) and Dalian Commodity Exchange’s soybean futures as they compete for a share in the global vegetable oils market.
CPO futures likely to experience technical correction next week thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade in range-bound mode next week as the market is lacking movement catalysts, a dealer said.
Interband Group of Companies senior palm oil trader Jim Teh said the market projection was made based on the quiet market and no major festival happening in the coming weeks.
He told Bernama that the futures contract is expected to trade between RM3,200 and RM3,300 per tonne.
Palm oil trader David Ng also expects the CPO futures to trade range-bound but with a negative bias, given the prospect of higher production which may increase the overall stock level in the country.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives would likely experience a technical correction next week following high inventory data released by the Malaysian Palm Oil Board (MPOB).
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade lower next week amid a slowdown in demand post-Eid al-Fitr festive season with price hovering between RM3,800 and RM3,900 per tonne.