THE crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to remain cautious next week, tracking global futures markets as well as equities markets given the recent fragility of the global economy.
Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa told Bernama that traders would also be seeking fresh leads, particularly on the extent of the production rise and change in stocks.
“Next week CPO futures will be trading based on March 1-20 production data from the Malaysian Palm Oil Association and export outlook from March 1-25 by cargo surveyors, and both are expected to be lower,” he said. – March 20, 2020, Bernama
