CPO futures to trade downside bias on weaker demand next week

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives is expected to trade on downside bias due to weak demand, which might weigh on prices, a dealer said.

Palm oil trader David Ng told Bernama that the market expected new week prices to trade in a range between RM3,500 per tonne and RM4,000 per tonne and with a slight downside bias given the weaker demand and high stock situation in the market.