KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to see quiet trading next week, with prices trending at the current level of between RM2,270 and RM2,340 per tonne, said Interband Group of Companies senior palm oil trader Jim Teh.
He said market players continued to worry in anticipation of a rise in production amid not-so-encouraging demand following the COVID-19 pandemic, as many countries were implementing a national lockdown.


"The lack of new market catalysts will continue to dampen market sentiment," he told Bernama.
For the week just ended, the market was traded mostly higher, tracking the soybean oil market performance and oil prices, the ringgit movement as well as the developments related to COVID-19.
On a Friday-to-Friday basis, the CPO futures contract for May 2020 fell RM80 to RM2,285 per tonne, June 2020 was RM61 lower at RM2,251 per tonne, and July 2020 and August 2020 slipped RM50 each to RM2,235 and RM2,224 per tonne respectively.
Weekly turnover rose to 230,788 lots from last Friday's 257,369 lots, while open interest increased to 248,527 contracts from 243,081 contracts.
On the physical market, the CPO price for April South was RM106 lower at RM2,274 per tonne. - Bernama

https://www.thestar.com.my/business/business-news/2020/04/18/quiet-trading-seen-for-cpo-futures-next-week
Source: thestar.com.my
• BUSINESS
• Saturday, 18 Apr 2020