CPO futures trading may recover slightly

Plantation companies’ earnings are expected to be lower in 2024 as there are expectations of an oversupply situation which will push down crude oil prices (CPO).

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives may see some trading recovery this week amid the current attractive price levels.

However, Singapore-based Palm Oil Analytics’ owner and co-founder Sathia Varqa said the recovery may not be sustainable as investors are awaiting the Sept 1-Sept 20 production numbers to be released during the week.

‘’Better Sept 1-Sept 20 production figures will trigger selling pressure,’’ he told Bernama, adding that bullish exports expectation for the month does not appear to be enough to fuel interest.

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