CPO futures to move higher next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to move higher next week, underpinned by the improving export data.

Singapore-based Palm Oil Analytics’ owner and co-founder Dr Sathia Varqa said this was based on the cargo surveyor Intertek Testing Services data, which showed Malaysia's exports for the May 1-10 period up by 29.63 per cent to 447,225 tonnes from 345,010 tonnes in the same period in April 2021.