CPO futures forecast to trade with downside bias next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is forecast to trade with a downside bias as the market continues to be plagued with expectations of higher output next week.

Palm oil trader David Ng said the outlook is expected to be bearish following the higher production estimates from Southern Peninsula Palm Oil Millers’ Association (SPPOMA) and Malaysian Palm Oil Association (MPOA).