Palm oil seen to be in range bound trade next week

With the escalating tariff conflict, we may see China turning to Argentina as an alternative to purchase soybean oil instead of from the US, says a trader.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives will likely remain in range-bound trading at between RM2,130 and RM2,170 next week, as traders may adopt a wait-and-see attitude, amid the ongoing trade tensions between the United States (US) and China, a dealer said.

Interband Group of Companies Senior Trader Jim Teh said uncertainties over the conflict had put a pressure on the prices of most commodities.