Palm oil to trend higher next week

KUALA LUMPUR (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives would likely trend higher next week on expectations of higher demand from India and China, as Malaysia has lowered its export duty on palm oil to zero per cent for June, the Malaysian Palm Oil Board (MPOB) said.

The tax was exempted for most of last year -- from May 1 to Dec 31 -- but it was reinstated at a rate of five per cent in January this year.