CPO futures likely to see technical correction next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to experience a technical correction next week following the speculative play by syndicates, Interband Group of Companies senior palm oil trader Jim Teh said.

"The syndicates are pushing up the CPO prices like nobody’s business and taking advantage, as there is plenty of palm oil in Malaysia and Indonesia every month," he told Bernama.