CPO futures to trade lower next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade lower on profit-taking next week with the benchmark moving between RM2,300 and RM2,400 per tonne, industry analysts said.

Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said industry players would focus on Malaysia’s export data from cargo surveyors, as well as production figures for the Nov 1-20 period from the Malaysian Palm Oil Association (MPOA).