KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trend lower next week on profit-taking activities, said Interband Group of Companies senior palm oil trader Jim Teh. "There will be a lot of palm oil demand for Christmas, mainly from Europe. As such, the price movement next week is expected to hover between RM4,200 and RM4,300 per tonne, he said. For the week just ended, Malaysian CPO futures finished mostly higher, driven by concerns over weak production and expectation of strong demand in upcoming weeks. The physical CPO price for October South added RM70 to RM4,670 a tonne.
