KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to see range trading this week with sentiment remaining cautious against a backdrop of surplus stock and slow demand.
Jim Teh, Interband Group of Companies Senior Palm Oil Trader said prices were anticipated to hover between RM2,650 and RM2,750 a tonne. He said despite the huge stock position, margins were still attractive as production cost was only between RM1,200 and RM1,500 per tonne.
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