For the week just ended, Malaysian CPO futures finished mostly lower, driven by production uncertainty, lower demand and weaker exports for palm oil in the coming weeks.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade lower or remain weaker this week in anticipation of weaker exports in the coming weeks.
Palm oil trader David Ng said the exports report will likely affect sentiment this week. “Trading this week will be based on Aug 1-20 exports outlook and production estimates from Malaysian Palm Oil Association and Southern Peninsula Palm Oil Millers’ Association.
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