CPO futures likely to consolidate next week with bouts of profit taking

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 even though fundamental uptrend is strong due to lower output and lower stockpile.

Interband Group of Companies senior palm oil trader Jim Teh said the price would likely move between RM3,200 and RM3,300 per tonne.