KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade in a cautious mode next week, a dealer said.
KUALA LUMPUR (Dec 27): Traders believe a recent move by China’s Dalian Commodity Exchange to open its palm oil futures contract to international investors should provide a certain degree of competition but it will not impact Bursa Malaysia Derivatives (BMD) in the short term. Effective Dec 22, China allowed foreign investors to have access to its palm oil futures contract trading in an effort to become a global commodity pricing power.
China s palm oil futures no threat for now 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.
Interband Group of Companies senior palm oil trader Jim Teh said the price would likely trade between RM3,350 and RM3,450 per tonne.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to see quiet trading or retreat next week on mild profit-taking, as traders will go on leave for the Christmas and New Year celebration, a dealer said.
Interband Group of Companies senior palm oil trader Jim Teh said the price would likely trade between RM3,350 and RM3,450 per tonne. Similar to the yearly scenario, we will come across some window-dressing activity by public-listed companies and this would help push up the edible oil’s prices as we move towards end of the year, ” he told Bernama.
11:15 AM MYT
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to consolidate further next week with bouts of profit-taking as most of international traders will take a leave for the Christmas celebration and year-end holiday.
Interband Group of Companies senior palm oil trader Jim Teh said the price would likely move between RM3,300 and RM3,350 per tonne. This is the best price performance for year 2020, he told Bernama, adding that next week is a short day trading week due to the Christmas celebration.
For the week just ended, the CPO price was mostly higher, influenced by better demand for the commodity, the overnight rally in Chicago bean oil, as well as expectations of stronger exports and weaker production.