CPO futures poised for technical correction this week

Meanwhile, Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said this week’s trading will be centred on March 1- March 20 output data from Southern Peninsula Palm Oil Millers’ Association and the Malaysian Palm Oil Association.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade lower this week on technical correction following continued speculative play, Interband Group of Companies senior palm oil trader Jim Teh said.

However, he said more physical buyers were expected to enter the market when prices go down further moving forward.