CPO futures likely to trade with downside bias

In a note recently, CGS-CIMB said Covid-19 cases were indirectly impacting productivity at the estates due to the delay in allowing the return of 32,000 foreign workers

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is forecast to trade with a downside bias ahead of a slew of market-moving data to be released this week.

The Malaysian Palm Oil Board (MPOB) is expected to release production, stocks as well as export data for May that are set to influence the overall market performance.