CPO futures likely to trade in yo-yo mode

KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade in yo-yo mode this week as traders await the Malaysian Palm Oil Board’s report for January 2023 production and exports during the mid-week.

Interband Group senior palm oil trader Jim Teh said as analysts are expecting higher stocks, lower export figures and slower demand in Malaysia and Indonesia, prices for the commodity may move up and down.

“International buyers will have more say when and where to buy due to the high inventory,” he said.