KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade lower next week on profit-taking after prices rallied to above RM5,600 a tonne, Interband Group of Companies senior palm oil trader Jim Teh said. "The market is forecast to trade between RM5,000 and RM5,100 per tonne next week,” he told Bernama. Meanwhile, palm oil trader David Ng said CPO is expected to trade on a downward bias as profit-taking is expected to emerge due to the recent rally in prices. For the week just-ended, the CPO futures finished higher tracking gains in the crude oil market, stronger soybean oil performance on the US Chicago Board of Trade, and Indonesia’s restriction on CPO exports. The physical CPO price for February South rose RM300 to RM5,800 a tonne.
